The Iron Act - 1750

“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