Page:The wealth of nations, volume 2.djvu/426

 bounty of sixpence the pound. This bounty, which, like most others, was granted only for a limited time, was continued by several prolongations, but was reduced to four-pence the pound. It expired with the end of the session of Parliament which followed the 25th March, 1781.

The third bounty of this kind was that granted (much about the time that we were beginning sometimes to court and sometimes to quarrel with our American colonies) by the 4th of George III., chap. 26, upon the importation of hemp, or undressed flax, from the British plantations. This bounty was granted for twenty-one years, from the 24th June, 1764, to the 24th June, 1785. For the first seven years it was to be at the rate of eight pounds the ton, for the second at six pounds, for the third at four pounds. It was not extended to Scotland, of which the climate (although hemp is sometimes raised there, in small quantities and of an inferior quality) is not very fit for that produce. Such a bounty upon the importation of Scotch flax into England would have been too great a discouragement to the native produce of the southern part of the United Kingdom.

The fourth bounty of this kind was that granted by the 5th of George III., chap. 45, upon the importation of wood from America. It was granted for nine years, from the 1st January, 1766, to the 1st January, 1775. During the first three years, it was to be for every hundred and twenty good deals, at the rate of one pound; and for every load containing fifty cubic feet of other squared timber, at the rate of twelve shillings. For the second three years, it was, for deals, to be at the rate of fifteen shillings, for other squared timber at the rate of eight shillings; and for the third three years, it was, for deals, to be .at the rate of ten shillings, for other squared timber at the rate of five shillings.