[To raise money, it was proposed] to Tax those Qualities of Body and Mind for which Men chiefly value themselves, the Rate to be more or less according to the Degrees of excelling, the decision whereof should be left entirely to their own Breast. The highest Tax was upon Men who are the greatest Favourites of the other Sex, and the Assessments according to the Number and Natures of the Favours they have received; for which they are allowed to be their own Vouchers.

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favour, favor, n
2 d. Euphemistically. Formerly also the last favour (= Fr. les dernières faveurs).
1676 WYCHERLEY Pl. Dealer V. iii, She..granted you the last favour, (as they call it).
1695 CONGREVE Love for L. III. xiv, You think it more dangerous to be seen in Conversation with me, than to allow some other Men the last favour.
1824 MEDWIN Convers. Byron (1832) I. 87 One who had bestowed her favours on many.

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favourite, favorite, n. and a.
1838 LYTTON Leila II. i, The king smiled slightly at the ardour of the favourite of his army.

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Tony Augarde - author of the Oxford Guide to Word Games (available at Vancouver Public Library) and an Internet Wordplay column - says our almost-anything-goes society has rendered the once-indelicate acceptable, leaving the stamp of taboo on only a brace of four-letter words.

For classy examples of the real thing, he cites the novel Moll Flanders where author Daniel Defoe "... avoided calling his heroine big-breasted by describing her as 'well-carriaged,' while Moll herself calls sexual intercourse 'the last favour.' "

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We had not sat long, but he got up, and, stopping my very breath with kisses, threw me upon the bed again; but then being both well warmed, he went farther with me than decency permits me to mention, nor had it been in my power to have denied him at that moment, had he offered much more than he did.

However, though he took these freedoms with me, it did not go to that which they call the last favour, which, to do him justice, he did not attempt; and he made that self-denial of his a plea for all his freedoms with me upon other occasions after this. When this was over, he stayed but a little while, but he put almost a handful of gold in my hand, and left me, making a thousand protestations of his passion for me, and of his loving me above all the women in the world.

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• Page 42
  Swift suggests 5 guineas for a squeezed breast, and 100 guineas at least for 'the last favour' if not a settlement of £20 a year for life.
  
• Page 45
  Moll got 5 guineas for the first 1 5 minutes' foreplay, a handful of gold for going further, and 1 00 guineas for doing 'the last favour'.

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Page 445
In this case, take care to get as much out of him as you can; and never allow him the smallest liberty, not the squeezing of your hand, unless he puts a guinea into it; so, by degrees, make him pay accordingly for every new attempt, doubling upon him in proportion to the concessions you allow, and always struggling, and threatening to cry out, or tell your lady, although you receive his money: five guineas for handling your breast is a cheap pennyworth, although you seem to resist with all your might; but never allow him the last favour under a hundred guineas, or a settlement of twenty pounds a-year for life.