“Whereas divers brokers and stock-jobbers have lately set up and carried on most unjust practices, in selling and discounting tallies, bank-stock, bank-bills, shares and interest on joint stock, and other matters, and have and do unlawfully combine to raise or fall the value of such securities, for their own private advantage; and whereas the numbers of such brokers and stock-brokers are very much increased within these few years, and do daily multiply,—be it enacted, that from and after May, 1697, no person shall act as broker until licensed by the Lord Mayor and Court of Aldermen of the said city of London. “That the number of brokers shall not exceed one hundred, and that the admittance fees shall not exceed 40_s._ “That the names of the brokers shall be publicly affixed on the Royal Exchange, in Guildhall, and other public places in the city. “That any persons acting as brokers without being admitted as aforesaid, shall forfeit £500, and persons employing them £50; and that any person not being a sworn broker acting as such, shall forfeit £500, and for every offence stand three times in the pillory. “That all brokers shall keep a book, to be called the Brokers’-book, to enter contracts, and in cases of omission, forfeit £50 for every offence. “That they shall not receive more than ten shillings per cent. for brokerage. That, if they shall deal in any articles on their own account, they shall forfeit £500, and never act as brokers again. “That no person buying or selling tallies, corn, or any other provision, or coal, shall be esteemed a broker within the meaning of the act.” In 1707, this, which was for ten years, expired; and although various petitions, according to the interest of the petitioner, were presented, it was not renewed. A new act was then brought in, by which a yearly tax of forty shillings was levied against all brokers; and it is doubtful whether this would have been passed, had not a deficiency been created by the repeal of one concerning specie. In 1711, a committee of the House was appointed to consider the acts relative to brokers; and a recommendation ensued to revive the act of 1697. In compliance with this, a bill was brought in, read a first and second time, but was not passed; and in the reign of Queen Anne, the charge for brokerage of 10_s._ per cent. was reduced to 2_s._ 9_d._ It is now 2_s._ 6_d._ In 1746, and in 1756, new bills were brought in, but rejected, which materially affected stock-jobbers; and in 1765 it was ordered that a bill be brought in to restrain the ill practices of brokers; but this, like the others, was not passed.