difficulties of collection turned it mainly into a land tax, by which name it became generally known. The 4s. rate brought in £1,922,712, a return which declined in later years. To meet the shortfall, therefore, a fixed quota of nearly half a million (a 1s. rate) was adopted in 1697, the amount being apportioned in specified sums to towns and counties, its framework remaining substantially the same until 1798, the year of Pitt's redemption scheme. In 1696, houses were taxed at 2s. each, higher rates being applied to extra windows. Thus, the beginning of the window tax, licences on pedlars and a temporary tax on company stocks completed these imposts. Following Holland's example, stamp duties were adopted in 1694, being extended in 1698 and large amounts were added to the excise. Breweries and distilleries were placed under charge and important commodities such as salt, coal, malt, leather and glass were included as taxable articles, the two latter being later removed. Similarly, customs rates were also increased. In 1698 the general 5% duty was raised to 10%. French goods became liable to surtaxes, first at 25%, then 50%, whilst goods from other countries were charged at a lesser amount. Moreover, spirits, wines, tea and coffee were taxed at special rates. The expansion of the fiscal system may be best realised from the fact that, during the comparatively short reign of William III (1689–1702), the land tax produced £19,200,000, customs raising £13,296,000, and excise £13,650,000, or approximately £46 million when added together. In the last year of the reign, returns from these taxes were respectively—land tax (at 2s.), £990,000, customs £1,540,000, excise £986,000, or a total exceeding £3.5 million. The removal of regular export duty applied to domestic woollen manufactures and corn only, both cases additionally being due to special reasons of policy. Quite as remarkable as the growth of revenue was the sudden appearance of public loans. In earlier periods, a ruler accumulated treasure (Henry VII left £1,800,000) or pledged jewels or customs revenue or, occasionally, his friends to repay his loans. Edward III's dealings with Florentine bankers are well known, but it was only after the Revolution that the two conditions essential for a permanent, public debt were realized: The responsibility of the government to the people An effective market for floating capital. At the close of war in 1697, a debt of £21.5 million had been incurred, of which