moved by those who were of Lowndes' opinion that the word "both" be omitted. On a division, there were 225 for retaining the word, and 114 against. The House thus, by a large majority, affirmed what all economists would now regard as an elementary principle of finance. A Bill embodying the resolution was soon passed, but, in consequence of difficulties with the Lords, had to be dropped. A fresh Bill was introduced on the 13th of January, substantially embodying the same provisions as the old Bill, and was hurried through its various stages so fast that it received the Royal Assent on the 21st of January, 1695-96. Up to the 4th of May, 1696, the clipped money was to be received in payment of taxes, and up to the 24th of June, for loans or other payments into the Exchequer. But after the 10th of February ensuing, it was to cease to be legal tender in ordinary payments. Thus, in spite of much temporary inconvenience caused by the scarcity of money during the time of transition, the silver coinage of the country was, once for all, put upon a sound basis. Late as Locke's pamphlet appeared, it probably helped to facilitate the passage of the Bill through the two Houses, as the reiterated statement of his opinions had undoubtedly contributed in very large measure to shape and confirm the action of the government. It may be mentioned that the loss to the Exchequer, estimated as 1,200,000_l._, was made up by the imposition of a house tax and window tax, the former of which still continues, while the latter existed within the memory of many men now only of middle age.