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Updated: June 27, 2025
Scroope, secretary of the treasury, moved in the house of commons, that in the malt-tax bill they should insert a clause of appropriation, empowering the king to apply such sums as should be necessary for defraying the expenses and engagements which had been, or should be made before the twenty-fifth day of September, in concerting such measures as he should think most conducive to the security of trade, and restoring the peace of Europe.
They granted two hundred and thirty thousand nine hundred and twenty-three pounds, for the maintenance of twelve thousand Hessian troops; a subsidy of fifty thousand pounds to the king of Sweden; and half that sum to the duke of Brunswick Wolfenbuttle.* The expense of the year amounted to four millions, raised by a land-tax of three shillings in the pound, a malt-tax, and by borrowing of the bank one million seven hundred and fifty thousand pounds, for which annuities to the amount of seventy thousand pounds, to be raised by duties on coals imported into the city of London, were granted to that corporation.
* In 1725, there was a great riot in Glasgow on account of the malt-tax. Among the troops brought in to restore order, was one of the independent companies of Highlanders levied in Argyleshire, and distinguished, in a lampoon of the period, as "Campbell of Carrick and his Highland thieves."
They voted ten thousand seamen; and the majority, though not without violent opposition, agreed to maintain four thousand additional troops, which had been raised in the preceding year; so that the establishment of the land-forces amounted to eighteen thousand two hundred and sixty-four. The expense of the year was defrayed by a land-tax and malt-tax.
The king recommended his petition; and the house complied with his request, in consideration of his great-grandfather, the famous John Hampden, who made such a noble stand against the arbitrary measures of the first Charles. The malt-tax was found so grievous to Scotland, that the people refused to pay it, and riots were excited in different parts of the kingdom.
The committee of ways and means, having duly deliberated on the articles of supply, continued sitting from the twenty-second day of November to the fourteenth of May, during which period they established the necessary funds to produce the sums which had been granted. The land-tax at four shillings in the pound, and the malt-tax, were continued, as the standing revenue of Great Britain.
We shall only observe that, in the act for the land-tax, and in the act for the malt-tax, there was a clause of credit, empowering the commissioners of the treasury to raise the money which they produced by loans on exchequer bills, bearing an interest of four per cent, per annum, that is, one per cent, higher than the interest usually granted in time of peace.
The expense of the year amounted to near six millions, raised by the land-tax at four shillings in the pound, by the malt-tax, by one million from the sinking-fund, by annuities granted upon it for eight hundred thousand pounds, and a loan of one million six hundred thousand pounds from the bank.
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"Right what is he worth? Put that question, with my compliments, to my half-brother. What stuff he did talk, the other night, on the malt-tax, to be sure!" "Mr. Egerton has had so many other things to think of, that we must excuse his want of information upon one topic, however important.
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