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Marked the point on the Grand Junction (now 'Union') Canal at which duty became payable on south-bound cargoes of coal. The proceeds were used to help finance numerous projects in London, including, in the 19th C., the northern and southern outfall sewers, work that was largely responsible for wiping out cholera in the capital. In 1830, the rate of duty was 1s 1d (5.5p) per ton; the duty was abolished in 1888.

The Collector's house is just to the rear of the marker.