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Customs and ExciseTrade, Production, and Consumption in England 1640-1845$
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William J. Ashworth

Print publication date: 2003

Print ISBN-13: 9780199259212

Published to Oxford Scholarship Online: January 2010

DOI: 10.1093/acprof:oso/9780199259212.001.0001

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Liberty, Property, and the Excise

Liberty, Property, and the Excise

Chapter:
(p.63) Chapter Four Liberty, Property, and the Excise
Source:
Customs and Excise
Author(s):

WILLIAM J. ASHWORTH

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780199259212.003.0005

Robert Walpole's appointment as First Lord of the Treasury enabled him to recapture public confidence in the credibility of the government's financial dealings and preserve the central aim of the South Sea Company's scheme, namely, the conversion of a large portion of the long-term national debt into a redeemable stock. From now on the most important elements of future dealings were social as well as economic budgeting, which involved the skilful management and courtship of the money market and ensuring the efficient gathering of revenue. Walpole was adept at this important aspect of political maneuvering, which, in turn, enabled a long period of financial consolidation and relative stability. This chapter shows that at the heart of Walpole's administrative fiscal policy was the excise.

Keywords:   excise, taxation, tax policy, Robert Walpole

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