3rd Parliament of William III

In the first session of 1695–96 there was deadlock between the main parties over the issues of the value of the coinage (due to clipping and the adverse rate of exchange) and the proposal to set up a Council of Trade.

The proceedings were expedited when Fenwick threatened to implicate leading Whigs in the plot and the Attainder Bill was passed with a small majority in spite of there being only one prosecution witness.

Although he successfully got approval for an extension of the Bank of England's privileges until 1710 in return for a new loan of £5 million, he was defeated in his efforts to impose new duties on wine and textiles.

By the time the third and final session started in December 1697 the continental war had ended with the signing of the Treaty of Ryswick.

Although the King wanted to maintain the large army as a deterrent, the Commons forced him to reduce it to 10,000 men.