Hearth tax a baker who, to avoid chimney tax, had knocked through the wall from her oven to her neighbour's chimney. After the Glorious Revolution, the hearth tax was repealed by the newly empowered English Parliament and agreed to by the newly installed William III and Mary II in 1689, as "not only a great oppression to the poorer sort, but a badge of slavery upon the whole people, exposing every man’s house to be entered into, and searched at pleasure, by persons unknown to him." At the end of the Glorious Revolution in 1688, William III and Mary II also agreed
Fiat money introduced by the Bank of Amsterdam in 1683. In 17th century New France, now part of Canada, the universally accepted medium of exchange was the beaver pelt. As the colony expanded, coins from France came to be widely used, but there was usually a shortage of French coins. In 1685, the colonial authorities in New France found themselves seriously short of money. A military expedition against the Iroquois had gone badly and tax revenues were down, reducing government money reserves. Typically, when short of funds, the government would simply delay paying merchants for purchases, but it was not safe to