France, and had existed here
during part of the reign of Charles the Second, but had been suffered
to expire. They were now revived; and they have ever since formed an
important part of the revenue of the State. [511] The hackney coaches
of the capital were taxed, and were placed under the government of
commissioners, in spite of the resistance of the wives of the coachmen,
who assembled round Westminster Hall and mobbed the members. [512]
But, notwithstanding all these expedients, there was still a large
deficiency; and it was again necessary to borrow. A new duty on salt and
some other imposts of less importance were set apart to form a fund for
a loan. On the security of this fund a million was to be raised by a
lottery, but a lottery which had scarcely any thing but the name in
common with the lotteries of a later period. The sum to be contributed
was divided into a hundred thousand shares of ten pounds each. The
interest on each share was to be twenty shillings annually, or, in
other words, ten per cent., during sixteen years. But ten per cent. for
sixteen years was not a bait which was likely to attract lenders. An
additional lure was therefore held out to capitalists. On one fortieth
of the shares much higher interest was to be paid than on the other
thirty-nine fortieths. Which of the shares should be prizes was to be
determined by lot. The arrangements for the drawing of the tickets were
made by an adventurer of the name of Neale, who, after squandering away
two fortunes, had been glad to become groom porter at the palace. His
duties were to call the odds when the Court played at hazard, to provide
cards and dice, and to decide any dispute which might arise on the
bowling green or at the gaming table. He was eminently skilled in
the business of this not very exalted post, and had made such sums by
raffles that he was able to engage in very costly speculations, and was
then covering the ground round the Seven Dials with buildings. He was
probably the best adviser that could have been consulted about the
details of a lottery. Yet there were not wanting persons who thought
it hardly decent in the Treasury to call in the aid of a gambler by
profession. [513]

By the lottery loan, as it was called, one million was obtained. But
another million was wanted to bring the estimated revenue for the year
1694 up to a level with the estimated expenditure. The ingenious and
enterprising Montague had a plan ready, a plan to