384 A. D. 1796. 



December 23*^ The fum of /^i 8,000,000 was raifed by an open loan, 



the fubfcribers to which received for every ;iCioo paid in by them 

 /^i I 2 : 10 : o in a new five-pei'-cent fund, which, from the ardour where- 

 with the fubfcription was filled up, received the name of Loyalty. It 

 was ftipulated, that, at the expiration of three years after the other five- 

 per-cent fund fhall have been totally redeemed, or bought in, the public 

 Ihall have a right to redeem the annuities created by this loan ; and 

 alfo, that, at the expiration of two years after the definitive treaty of 

 peace, the proprietors fliall have the option of receiving payment of 

 their capital, or converting it into a three-per-cent fund at the rate of 

 ;;^I33:6:8 for evtxy £100 of the five-per-cent capital, or, in other 

 words, receiving three-per-cents at the price of £']$. \c. 10] The 

 capital of the debt thus created amounted to ^^20, 124,843 : 15 : o *. 



December 28'" — Additional duties of excife were impofed on the fol- 

 lowing articles, viz. 



Estates, annuities, reversions, farming stock, ships or vessels, sold") ^^ ^ „i 



bv auction, for every pound of the amount S 



Furniture, fixtures, pictures, books, horses, carriages, &c. for ditto 3 



Bricks made in Great Britain, for every thonsand O 1 O 



Cacao nuts, the produce of British colonies, per hundredweight . . O O 9 



Ditto, the produce of foreign colonies, .... ditto 2 (i 



Home-made spirits, a variety of duties 



Brandy and other foreign spirits, not produced in the British col- 7 o 10 



onies, per gallon 5 



Kum and other spirits, produced in the British colonies, per gallon O O S 



The brandy, rum, and other spirits, if above proof, to pay double 

 duty. 



Tea sold at the sales of the East-India company at or above the 

 price of 2/0 per jjound, to pay an additional duty of ten per cent on 

 the amount of the sale. 



The duties on cacao nuts and tea were made to commence on the 7""j and the 

 duties upon all spirits home-made or imported, on the 9"' of December. 



The duty on bricks was allowed to be drawn back on exportation to 

 any foreign country whatever, and the duty on tea on exportation to 

 Ireland or the Britifh colonies in America, [r. 14] 



Additional cuftom duties were impofed on the following articles, viz. 



Muscovado sugar of the British colonies, per 112 pounds £0 2 6 



Sugar imported by the East-India company, . . ditto O 2 6 



All other sugars ditto 5 O 



These duties were made to commence on the 9'" of December. 



The whole of the additional duty now impofed on mufcovado fdgar 

 is allowed to be drawn back on exportation : and, in confideration of 

 the duty, an additional drawback, or bounty, of 2/6 per 112 pounds is 

 allowed on the exportation of ballard, refined, ground or powdered, 

 fugar, refined loaf fugar broken in pieces, and fugar-candy, and of 4/" 



* It ouglit to hare becn";C2C;250,oco, had not fome failures in the pnyments reduced it. 



