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

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The Act of Parliament Anno 2 & 3 Annæ Reginæ, entituled An Act for granting to her Majesty an additional Duty of Tunnage & Poundage &c ordeins that the value of East India Goods according to which the Duties are to be paid (except Coffee) shall be recconed according to the gross Price at which such goods shall be sold, making the following allowances or abatements out of the same, vizt out of the values of the said Goods ascertained by the Price at the Candle there shall be a deduction & allowance made of so much as the Net Duties payable to her Majesty for the same goods do amount unto, & so much as the respective Companies or Traders shall bona fide allow for prompt payment to the persons who at such sales shall buy the said Goods at Time & also six per cent upon the gross price by the candle for the charges of the said Companies & Traders in keeping the said goods till the time of sale. And the remainder is the clear value of the Goods according which the said Duties are to be paid, that is, upon which they are to be laid & rated , that is, the clear value to be taxed. The Merchant is not to be taxed for these three deductions because they are not his money but his debts charges & abatements taken out of the Gross price. And the remainder is the clear value to him for which he is to pay the said Duty of the Queen.

Quære 1. If the Net Duties payable

In a small Treatise printed at Paris 1689 & entituled an historical dissertation upon some coins of Charles the great Ludovicus Pius, Lotharius & their successors stamped at Rome there is a draught of a piece of Mosaic work which Leo the III caused to be made in his Palace neare the Church of John Lateran in memory of his sending the standard of the city of Rome to Charles the great, & which remained there till the publishing of the said Treatise & may still be there. In this mosaic work there appears Peter with three keys lying in his lap & riching the Pallium to the Pope with his right hand & the Banner of the city to Charles the great with his left. By the Pope is this inscription SCSSIMVS D. M. 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 suppose in the year 796 or 797. The three keys in the lap of Peter signify the keys of the three parts of his patrimony, viz Rome with its Dutchy, Ravenna with the Exarchate & the territory taken from the Lombards. These were the three dominions whose keys were in the lap of Peter & whose crowns are still worn by the Pope.