Draft memoranda on legislation under Queen Anne relating to duty on foreign trade

Author: Isaac Newton

Source: MINT 19/3/445, National Archives, Kew, Richmond, Surrey, UK

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  - 1 January 2001
    - Catalogue information compiled by Rob Iliffe, Peter Spargo & John Young
  - 29 September 2011
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  - 21 March 2017
    - Transcribed by Will Scott
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Related Texts
- This document is a version of:
  Copy of a mathematical demonstration of formula for calculating customs duty (Mint 19/3/444) [MINT 19/3/442]

<445r>

The Act of Parliament Anno 2 & 3 Annæ Reginæ, entituled An Act for granting to her Majesty an additional \Duty/ of Tunnage & p|P|oundage &c ordeins that the value of East India Goods (except Coffee) according to w^ch the Duties are to be paid (except Coffee) that is the {illeg}|c|leare value to be taxed shall be recconed according to the gross \Price/ at w^ch such goods shall be sold, making the following allowances or abatements out of y^e same, viz^t out of y^e values of the said Goods ascertained &|b|y the Price at the Candle there shall be a deduction & allowance made of so much at|s| the Net Dud|t|ies payable to her Ma^ty for the same goods do amount unto, & so much as the respective Companies or Traders shall bona fi{illeg}|d|e allow for prompt payment to the persons who at such sales shall by|u|y the said {illeg}|G|oods at Time & also six per cent upon the gross price by the candle for the charges of the |s^d| Companies & Traders {illeg} in keeping the said goods till the time of sale. And the remainder is the clear val{illeg}|u|e &|o|f the Goods according which the said Duties are to be paid, that is, upon w^ch they are to be laid & rated |, t|{as}|ha||t| |is,| the clear value to be taxed. The Merchant is not to be taxed for these Quæ three deductions because they are not his money but his debts \charges/ & abatements out of w^ch he pays or makes to the Queen & others out of\to others taken/ out of the Gross price. And the remainder is the clear value to him upon w^ch the the Duty is to be laid pay{s} for w^ch he is to be charge pay y^e said Duty of the Queen.

Quære 1. If the Duty Net Duties payable

This In a \a \small/ Treatise printed at Paris 15|6|89 & entituled And historical/ dissertation upon some coins of Charles the great Ludovicus Pius, Lotharius & their successors stamped at Rome there is a cut\draught/ of a Mosaic piece of \Mosaic/ work w^ch Leo the III caused to be made in his Palace neare the Church of Iohn Lateran in memory of his sending the standard of the city of Rome to Charles I|t|he great, & w^ch remained there till the publishing of the said t|T|reatise & may still be there. It In this piece of\mosaic/ work there appears Peter w^th three keys lying in his lap & \with his right hand/ riching the Pallium to the Pope, & w^th his right hand & the Banner of the city to y^e Emperor \Charles y^e great/ w^th his left. By the Pope is this inscription & by the Emperor this SCSSIMVS D. M. Leo LEO PP; by the King this D. N. CARVLO REGI: & under the feet of Peter this, BEATE PETRE dona vitam Leoni PP, ET BICTORIAM CAROLO REGI DONA. By the inscriptions it appears that this piece of Mosaic work was made before Charles was Emperor supp & by consequence upon th suppose in the year 796 or 797|.| when the Banner was f{illeg}r & by The three keys in the lap of Peter signify the keys of his Patrimony the thre {sic} parts of his patrimony, {illeg} viz Rome w^th its Dutchy, Ravenna w^th the Exarchate & the {illeg} territorie|y|s taken from y^e Lombards. These were the three dominions whose keys were in y^e lap of Peter & whose crowns are still worn by the Pope.