scroll to top
Stuck on your essay?
Get ideas from this essay and see how your work stacks up
Word Count: 792
Why was financial reform a matter of such concern to William pitt in the years 1784 To 1793 Pitts concern with the financial situation of Britain was not with out reason In 1783 the Government expenditure exceeds the national income by 108 million This would however drop when expenditures on the armed forces would be cut due to the sing of peace terms but worrying still was the fact that income to the exchequer was actually falling largely because excise duties had fallen by almost 1 million This was all toped off with the lack of confidences in the British system that loans were hard to get after the last year of the war of American independence With Britains financial future looking bleak Pitt had no other choice but to make this prime concern as he knew that with out a stable financial government he would not have a government at all Pitss first target for financial reform was to destroy the threat of smugglers Smugglers were a great annoyance to the government so much so that it is estimated that in the early 1780s one-fifth of all imports were smuggled in It is also estimated that between 3 and 45 tons of tea alone found there way into the country each year by the hands of the smugglers This smuggling problem caused a Hugh loss in potential profit for the British government as no tax could be collected from the smuggled goods Pitt did a number of things to tackle the situation one such move was to extend the right to be able to search suspect cargo But probably Pitts main and most important change was to strike the smuggles at there source the prices them selves of these goods Pitt embarked on a massive reduction of duties For example he reduced the duty in tea from 119 per cent to 25 per cent by his commutation act in 1784 This reduction in
@Kibin is a lifesaver for my essay right now!!
- Sandra Slivka, student @ UC Berkeley
Wow, this is the best essay help I've ever received!
- Camvu Pham, student @ U of M
If I'd known about @Kibin in college, I would have gotten much more sleep
- Jen Soust, alumni @ UCLA