ABSTRACT
In this chapter I offer short overviews of parliamentary debates and legislative proceedings on the high price of guineas and the possibility of a second large, perpetual war loan. The first problem was addressed by special-purpose clauses added to two bills that were already underway for other reasons but served as timely vehicles: one for continuing certain existing duties on wine and vinegar (7 & 8 Will. 3, c. 13) and the other for encouraging people to bring plate to the Mint for coining (7 & 8 Will. 3, c. 19). The second set of debates resulted in the salt-tax act that authorized the creation of both the National Land Bank and ‘Exchequer bills’ (7 & 8 Will. 3, c. 31). I consider the two together because, as we shall see in the next chapter, they were intimately related.
