House of Commons Journal Volume 12: 13 December 1697

Journal of the House of Commons: Volume 12, 1697-1699. Originally published by His Majesty's Stationery Office, London, 1803.

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Citation:

'House of Commons Journal Volume 12: 13 December 1697', in Journal of the House of Commons: Volume 12, 1697-1699( London, 1803), British History Online https://www.british-history.ac.uk/commons-jrnl/vol12/pp5-6 [accessed 27 July 2024].

Lunæ, 13 die Decembris;

Nono Gulielmi Tertii.

Prayers.

Preventing Correspondence with late King James.

MR. Attorney-General, according to Order, presented to the House a Bill against corresponding with the late King James: And the same was received.

The Bill was read the First time.

Resolved, That the Bill be read a Second time.

Assize of Bread.

Ordered, That Leave be given to bring in a Bill to regulate and ascertain the Assize of Bread: And that Mr. Perry and Mr. Arnold do prepare, and bring in, the Bill.

Deficiencies of Aids.

Mr. Lowndes, according to Order, presented to the House an Account of the Deficiencies of the last Year's Aids: And the same was received, and read; and is as followeth; viz.

13 December, 1697.

An Estimate of the Deficiencies of the last Year's Aids.



The Aid of 3s. in the Pound, which was granted to his Majesty for one Year, is, by the Act of Parliament for the same, made a Security by Tallies, and Orders in Course, for Principal Money, amounting to	£.
	1,500,000
Memorandum: The said Sum consists of 366,621 l. 6s. 1d. transferred from a late Act for purchasing of Annuities; and of 479,911 l. 12s. 6 d. which was lent on the Exchequer in general; and of 653,467 l. 1s. 5d. which was lent on the said Act for 3s. in the Pound, after it passed.
The Interest of the said Money, transferred from the Annuity-Act, at 6 per Centum per Annum; and of the said Sum, transferred from the Exchequer in general, part at 6 per Centum, and Part at 8 per Centum per Annum; and of the said Loans, made upon the said Act for 3s. in the Pound, at 8 per Centum per Annum; will, by Computation from the respective Times of Borrowing, until the respective Times of Repayment, respect being had to the dilatory Collection of the said Aid, amount to, at least	120,000
The Subsidies, and other Duties, granted to his Majesty, by the aforesaid Act, for one Year, were made a Security to discharge Bills of Credit, amounting, in Principal Money, to	1,500,000
Memorandum: There is a Clause in the said Act, Page 132. That in case the said Duties should fall short of raising the last-mentioned Sum of 1,500,000 l. such Deficiency should be in the first Place made good and supplied out of any the Monies that should be raised by any Act or Acts of the then next Session of Parliament.
By a Clause in the late Act, for making good several Deficiencies, Page 385, an Interest after the Rate of 5d. a Day for every 100 l. is to attend the said Bills of Credit when they are not in the Exchequer, or in the Hands of publick Receivers or Collectors; which Rate by the Day amounts to 7 l. 12s. 1d. per Annum; and in the Whole, from the time of making forth those Bills, till the cancelling of the same, there may incur by such Interest, at least	100,000
The additional Aid of 1 s. in the Pound upon Land, granted in the last Session, was given for	500,000
Memorandum: The said additional Aid, together with a new Subsidy of Tonage and Poundage, were made a Security to discharge more Bills of Credit, amounting to 1,200,000 l. in Principal Monies, and the like Interest for the same: And there is a Clause in the Act, Page 521. That all the Bills, as well for the said 1,500,000 l. as for the said 1,200,000 l. which shall not be cancelled by the 25th Day of March 1698, shall be satisfied, as well by the Arrears of the Funds for the same then standing out, as out of the Monies which should arise by any Aid to be granted in the next Session of Parliament.
The Interest of so many of the said Bills as are to be cancelled on the said Aid of 1s. in the Pound singly, may, by Estimation, be reckoned at about	33,000
So that . . . Sum Total of all the Principal and Interest-monies, appointed by Parliament to be paid out of the Funds given in the last Session for the War, except the said further Subsidy of Tonage and Poundage, and except the Malt-Duty, doth amount to	3,753,000
The fourth Aid of 4 s. in the Pound, which was payable in the Year 1696, hath, almost wholly in clipt and hammered Monies, produced into the Exchequer the Sum of 1,706,869 l. 10s. 1d.; and, according to the best Information from the several Counties and Cities, the Duplicates not being returned, the Land-Taxes for 1697, will hold near the same Proportions, in the Whole, as in the former Year, altho', in some Places, the Assessments are increased, and in others, they are decreased; and if Three-fourths of the said Sum be taken for the Produce of the said Aid of 3s. per Liber', it will be about 1,280,000 l.: But there is to be deducted about 8d. an Ounce, for so much thereof as was paid in hammered Money before the First of June 1697; and about 2d. an Ounce, for so much thereof as is paid in hammered Money after that Day; which Deductions, by Computation, will amount to about 80,000 l.: And then the net Produce of the 3s. Aid, towards the Principal and Interest of the Loans thereupon, will be about	1,200,000
The Subsidies, and other Duties, commonly called the Capitation-Tax, will, by Estimation, make about 700,000 l.; out of which deducting 40,000 l. for the Payments in hammered Money, the net Produce, towards the Bills of Credit, will be	660,000
The net Produce of the 1 s. per L. towards the said Bills, according to the said Estimate for the 3 s. per Liber', is	400,000
So that the Sum Total of all the Monies which will effectually arise out of these Funds towards the Principal and Interest of the said Loans, and Bills of Credit, will be, by Estimation, about	2,260,000
The Deficiency, or Difference between the said Total Sums, is One Million Four hundred Ninety-three thousand Pounds	1,493,000
	3,753,000

Memorandum: The further Subsidy of Tonage and Poundage, being granted from the First of May 1697, unto the First of February 1699; and the Duty upon Malt, being granted from 20th of April 1697, until the 20th July 1699; cannot well be estimated at present.

Wm. Lowndes.

The Earl of Ranelagh, according to Order, presented to the House an Abstract of the Arrears due to the Land-Forces, Guards, and Garisons.

And the same was read; and is as followeth; viz.



		£.	s.	d.
To clear the Arrears of Pay from the First of April 1692, to the last of March 1693, inclusive		139,066	18	4
From the First of April 1693, to the last of March 1694, inclusive		192,063	6	6
From the First of April 1694, to the last of March 1695, inclusive		206,396	8	3
From the First of April 1695, to the last of March 1696, inclusive		197,481	6	8
From the First of April 1696, to the last of March 1697, inclusive		243,476	11	6
From the First of April 1697, to the last of September following, inclusive		221,570	5	—
		1,200,054	16	3
To clear the Arrear of Subsistence due to the Troops in England, between the First of January 1696, and the First of August following, from which time they have been regularly subsisted.		203,415	7	9½
To clear the Arrear of Subsistence due to the Troop of Scots Guards in Scotland, and the Regiment and Companies in the West-Indies, from the First of January 1696, to the 20th of November 1697, inclusive; to which Time the Army in England have been subsisted, except for the Seven Months between the First of January 1696, and the First of August following		21,348	—	9
To clear the Arrear of Subsistence due to the Troops in Flanders, to the Fourth of October last, according to the best Estimate that can be made thereof, about		479,000	—	—
	£.	1,903,818	4	9½
To General Officers, with their Aids de Camp, and of Brigade, about	£.
	50,000
Memorandum: The foregoing Paper was delivered to the Lords Commissioners of his Majesties Treasury the 17th of November last; which, in the Whole, amounted to		1,953,818	4	9½
To which is to be added,
For Arrears of Pay to the Land Forces, Guards, and Garisons, which will be due to them from the said last of September last, to the 31st of December instant, inclusive, about		75,000	—	—
	£.	2,028,818	4	9½

Ranelagh.

Forage Debt, &c.

Ordered, That the Secretary at War do, To-morrow Morning, lay before this House an Account of the Debt for Forage, and other Things, for the Army in Flanders.

Transport Debt.

Ordered, That a State of the Transport Debt, for Reducing of Ireland, be laid before this House.

Deficiencies of Aids.

Ordered, That the Account of the Deficiencies of the last Year's Aids, and the Abstract of the Arrears due to the Land-Forces, Guards, and Garrisons, do lie upon the Table, to be perused by the Members of the House.

Supply.

Resolved, That this House will, To-morrow Morning, resolve itself into a Committee of the whole House, to consider further of the Supply to be granted to his Majesty.

And then the House adjourned till To-morrow Morning, Nine a Clock.