George II (r. 1727 – 1760) lends his assent to the Molasses Act, imposing a six-pence per gallon impost on molasses from the non-British colonial enclaves.  The purpose of the tax is not intended necessarily intended to generate revenue, but to give preference to molasses from the British West Indies.

       Postscript: It did not work: colonial merchants avoided the tax by smuggling or, more often, bribing customs officials.  The act did not create so much of a monopoly, as it did increase bribery of customs officials and outright smuggling.

       [added 6/4/2021]