“Whereas the importation of bar iron
from his Majesty's colonies in America, into the port of London, and
the importation of pig-iron from the said colonies into any port of
Great Britain, and the manufacture of such bar and pig-iron in Great
Britain, will be a great advantage not only to the said colonies, but
also to this kingdom...and by means thereof large sums of money, now
annually paid for iron to foreigners, will be saved this kingdom, and
a greater quantity of the woolen, and other manufactures of Great
Britain, will be exported to America in exchange for such iron so
imported; be it therefore enacted...the several and respective
subsidies, customs, impositions, rates, and duties, now payable on
pig-iron, made in and imported from his Majesty's colonies in
America, into any port of Great Britain, shall cease...be it further
enacted...no mill or other engine of slitting or rolling of iron, or
any plating-forge to work with a tilt hammer, or any furnace for
making steel, shall be erected, or after such erection, continued, in
any of his Majesty's colonies in America; and if any person or
persons shall erect...shall for every such mill, engine, forge, or
furnace, forfeit the sum of two hundred pounds...”
George II, April
12, 1750
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