per barrel (with 4s. 5d. per bushel on malt and a duty on hops); tea 96% _ad valorem_. Timber, cotton, raw silk, hemp and bar iron were taxed, so were leather, soap, glass, candles, paper and starch. In spite of the need of revenue, many of the customs duties were framed on the protective system and thereby gave little returns; e.g. the import duty on salt in 1815 produced £547, as against £1,616,124 from excise; pill-boxes brought in 18s. 10d., saltpetre 2d., with 1d. for the war duties. The course of the war taxation was marked by varied experiments. Duties were raised, lowered, raised again, or given some new form in the effort to find additional revenue. Some duties, e.g. that on gloves, were abandoned as unproductive; but the conclusion is irresistible that the financial system suffered from over-complication and absence of principle. In the period of his peace administration Pitt was prepared to follow the teaching of _The Wealth of Nations_. The strain of a gigantic war forced him and his successors to employ whatever heads of taxation were likely to bring in funds without violating popular prejudices. Along with taxation, debt increased. For the first ten years the addition to it averaged £27,000,000 per annum, bringing the total to over £500,000,000. By the close of the war period in 1815 the total reached over £875,000,000, or a somewhat smaller annual increase--a result due to the adoption of more effective tax forms, and particularly the income tax. The progress of English trade was another contributing agency towards securing higher revenue. The import of articles such as tea advanced with the growing population; so that the tea duty of 96% yielded in 1815 no less than £3,591,000. It is, however, true that by the year just mentioned the tax system had reached its limit. Further extension (except by direct confiscation of property) was hardly possible. The war closed victoriously at the moment when its prolongation seemed unendurable.