al stock of the East-India company, estimated at seven
hundred and forty-four thousand pounds; of one per cent, on the African;
of five pounds on every share of the stock belonging to the Hudson's Bay
company; and they empowered his majesty to borrow five hundred thousand
pounds on these funds, which were expressly established for maintaining
the war with vigour.*

* The French king hearing how liberally William was
supplied, exclaimed, with some emotion, "My little cousin
the prince of Orange is fixed in the saddle--but, no matter,
the last Louis d'or must carry it."

BURNET'S PASTORAL LETTER BURNED.

The money-bills were retarded in the upper house by the arts of Halifax,
Mulgrave, and other malcontents. They grafted a clause on the land-tax
bill, importing, that the lords should tax themselves. It was adopted by
the majority, and the bill sent with this amendment to the commons,
by whom it was unanimously rejected as a flagrant attempt upon their
privileges. They demanded a conference, in which they declared that
the clause in question was a notorious encroachment upon the right
the commons possessed, of regulating all matters relating to supplies
granted by parliament. When this report was debated in the house of
lords, the earl of Mulgrave displayed uncommon powers of eloquence and
argument, in persuading the house, that, by yielding to this claim of
the commons, they would divest themselves of their true greatness, and
nothing would remain but the name and shadow of a peer, which was but a
pageant. Notwithstanding all his oratory, the lords relinquished their
clause, declaring, at the same time, that they had agreed to pass the
bill without alteration, merely in regard to the present urgent state of
affairs, as being otherwise of opinion that they had a right to insist
upon their clause. A formal complaint being made in the house of commons
against the pamphlet entitled, "King William and Queen Mary Conquerors,"
as containing assertions of dangerous consequence to their majesties, to
the liberty of the subject, and the peace of the kingdom, the licenser
and printer were taken into custody. The book being examined, resolved
that it should be burned by the hands of the common hangman, and that
the king should be moved to dismiss the licenser from his employment.
The same sentence they pronounced upon a pastoral letter of bishop
Burnet, in which this notion of conquest had been at first as