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Documentary History of the State of New York, Vol. I

O'Callaghan, E.B., ed. The Documentary History of the State of New York, Vol. I. Albany: Weed, Parsons and Co., 1849. 260 words

imported viz.

European and East India Goods from the x

British Islands in the West Indies Also a Duty of Two per Cent, on certain species of Goods sold at Public Auction or Outcry, and from Lycences granted to Hawkers and Pedlars.

The annual amount of the several Duties on an average of the last Five Years is £5000 Currency. Secondly from the Interest of .£120,000 in Bills of Credit emitted by a Law of the

Colony passed the 16 th of February 1771 and put out on Loan at 5 per cent, by which a clear Revenue until 1776 is to be paid into the Treasury of From the year 1776 One Tenth Part of the Principal Sum is to be paid yearly into the Treasury until the whole sum of £120,000 is paid, So that this Branch of Revenue decreasing annually in

that proportion, will totally cease in 1785.

The Revenue arising from the Articles under the first Head as it is grounded on Laws annually a plication of passed, (except the Duty on Goods sold at Auction granted for three years) is appropriated the Revenue, foy annual Laws towards payment of the salaries of the Officers of Government and other necessary Expenses for the Public Service enumerated in such Laws.

And the Interest Money arising from the Loan above mentioned, which is the Second Branch of Revenue, is annually applied in furnishing necessaries

for His Majesty's

Troops quartered in this

Colony, for which there is usually granted £2000 Currency, and the Residue is occasionally applied to the