g of books. Various modifications were, from
time to time, made in the laws pertaining to licensing books, until,
in the reign of William, the liberty of the press was established
nearly upon its present basis.

William, in general, was in favor of those movements which proved
beneficial in after times, or which the wisdom of a subsequent age saw
fit to adopt. Among these was the union of England and Scotland, which
he recommended. Under his auspices, the affairs of the East India
Company were considered and new charters granted; the Bank of England
was erected; benevolent action for the suppression of vice and for the
amelioration of the condition of the poor took place; the coinage was
adjusted and financial experiments were made.

The crown, on the whole, lost power during this reign, which was
transferred to the House of Commons. The Commons acquired the complete
control of the purse, which is considered paramount to all other
authority. Prior to the Revolution, the supply for the public service
was placed at the disposal of the sovereign, but the definite sum of
seven hundred thousand pounds, yearly, was placed at the disposal of
William, to defray the expense of the civil list and his other
expenses, while the other contingent expenses of government, including
those for the support of the army and navy, were annually appropriated
by the Commons.

[Sidenote: Act of Settlement--Death of William III.]

The most important legislative act of this reign was the Act of
Settlement, March 12, 1701, which provided that England should be
freed from the obligation of engaging in any war for the defence of
the foreign dominions of the king; that all succeeding kings must be
of the communion of the Church of England; that no succeeding king
should go out of the British dominions without consent of parliament;
that no person in office, or pensioner, should be a member of the
Commons; that the religious liberties of the people should be further
secured; that the judges should hold office during good behavior, and
have their salaries ascertained; and that the succession to the throne
should be confined to Protestant princes.

King William reigned in England thirteen years, with much ability, and
sagacity, and prudence, and never attempted to subvert the
constitution, for which his memory is dear to the English people. But
most of his time, as king, was occupied in directing warlike
operations on the Continent, and in which h