Only pilots examined and admitted into the society of pilots and, if no such pilot was readily available, a ship's own owner, master, or mate could pilot ships up the Thames River, or else forfeit 10 pounds for the first offense, 20 pounds for the second, and 40 pounds thereafter. Any pilot losing a ship could no longer be a pilot. There had to be at least 120 qualified pilots. The prices of piloting were 3 pounds 10s. for ships drawing 7 feet of water, and 10s. more for each additional foot drawn up to 8 pounds 10s. for ships drawing 17 feet of water.
To preserve navigation, ships were not to throw any ballast, filth, rubbish, gravel, earth, stone, or filth into rivers or ports where the tide or water flowed or ran or else forfeit 50s.- 5 pounds. Ships on the Thames River could take as ballast to stabilize a ship without cargo: dung, compost, earth, or soil from laystalls in London. There was a toll on ships entering the port of London to pay for repairs to its walls.
Many persons insuring ships for large premiums became bankrupt, thus ruining or impoverishing many merchants and traders. So the king was authorized to grant charters to two distinct corporations for the insurance of ships, goods, and merchandise or going to sea or for lending money upon bottomry [borrowing money and and pledging the ship as security]. Each corporation had to pay 300,000 pounds to the Exchequer and to have sufficient ready money to pay for losses insured by them. They were to raise capital stock and could make calls of money from their members in proportion to their stocks for any further money required.
Any owner, master, or mariner who cast away, burned, or otherwise destroyed a ship to the prejudice of underwriters of policies of insurance or of any merchants whose goods have been loaded on the ship was to suffer death.
The owners of ships were not liable for losses by reason of theft without their knowledge by the master or mariners of goods beyond the value of the ship. This was to prevent the discouragement of owning ships.
The insurance of merchant ships must give salvage rights [rights to take what may be left of the ships insured after paying the insurance on them] to the insurer. A lender on bottomry had benefit of salvage. No insurance could be for a greater amount than the value of one's interest in the ship or in the goods on board.
No waterman carrying passengers or goods for hire e.g. by wherryboat, tiltboat, or rowbarge, on the Thames River could take an apprentice unless he was a housekeeper or had some known place of abode where he could keep such apprentice or else forfeit ten pounds, and if he couldn't pay, do hard labor at the House of Correction for 14-30 days. Also he could not keep the apprentice bound to him. No apprentice could be entrusted with a vessel until he was 16 if a waterman's son and 17 if was he the son of a landman, and he had at least two years' experience. None but freemen, i.e. one having served an apprenticeship of seven years, could row or work any vessel for hire or be subject to the same punishment. This was to avoid the mischiefs which happen by entrusting apprentices too weak, unable, and unskillful in the work, with the care of goods and lives of passengers. Later amendment required that apprentices be age 14 to 20 and that there be no more than 40 passengers, with the penalty of transportation if there were over 40 and one drowned.
No boat on the Thames River could be used for selling liquors, tobacco, fruit, or gingerbread to seamen and laborers because such had led to theft of ropes, cables, goods, and stores from the ships. Excepted were boats registered at the guilds of Trinity and of St. Clement, but they had to show their owner's name and could only operate in daylight hours. The penalty was forfeiture of the boat.
All ships coming from places infected with the plague had to be quarantined and any person leaving a quarantined ship had to return and later forfeit 20 pounds, of which 1/3 could go to the informer, the rest to the poor. This was later raised to 200 pounds and six months in prison, and if the person escaped, he was to suffer death. Also later, a master of a ship coming from infected places or having infected people on board was guilty of felony and forfeited 200 pounds. If he did not take his vessel to the quarantine area on notice, he forfeited a further 200 pounds (later 500 pounds) and the ship, which could then be burned. The king was authorized to prohibit commerce for one year with any country infected by the plague and to forbid any persons of the realm from going to an infected place.
By 1714, there was a clear distinction between a king's private income and the Crown's public revenue. From 1714, the king's Treasurer as a matter of routine submitted annual budgets to Parliament. He was usually also the leader of the House of Commons and the Chancellor of the Exchequer.