Hearth less than 20 shillings a year and those who paid neither church nor poor rates. Also exempt were charitable institutions such as schools and almshouses, and industrial hearths with the exception of smiths' forges and bakers' ovens. The returns were lodged with the Clerk of the Peace between 1662 and 1688. A revision of the Act in 1664 made the tax payable by all who had more than two chimneys. The tax was abolished by William III in 1689 and the last collection was for Lady Day of that year. It was abolished in Scotland in 1690. Hearth tax records
A Treatise on Money theory on money he asserts that investment is an "undependable drive wheel for the economy," and when no new investment can be found, the economy will begin to falter. Keynes and Hayek debated the former's theory of money. Keynes felt that Hayek was splitting hairs with him terminologically and published a public response to the Austrian's criticisms, writing, “Dr Hayek has seriously misapprehended the character of my conclusions. He thinks that my central contention is something different from what it really is”; “It is essential to that theory to deny these propositions which Dr Hayek puts in my mouth.” The