# TO THE COURTEOUS READER.

BY an Act of Grace, and not by impoſition of a new taxe, a yeares rent onely, is now required of ſuch as have tranſgreſſed the Lawes formerly made for preventing of Buildings, leaſt any ſhould ſuffer too much by the rigorous execution of thoſe Lawes, and further it is provided that this yeares rent be indifferently proportioned, upon ſeveral perſons, according to their reſpective intereſts in ſuch Houſes, where more then one are concerned; (for where one onely perſon is concerned, the Fine is quickly ſet, viz. a yeares rent,) but where there are more concerned, though there is ſtill but one yeares rent required; yet how this ſhall be raiſed, is not ſo eaſie to determine, and is therefore to be proportioned upon the ſeveral perſons concerned therein, according to their reſpective intereſts, in ſuch manner as the4 Commiſſioners appointed, by his Highneſſe, ſhall think fit, for which purpoſe, a certain value of ſuch Houſes muſt be fixt, and therefore that the Head-Land-lord, (by whom the tranſgreſſion was firſt committed) might pay ſomewhat a greater proportion, for his eſtate in reverſion, then the Under-tenants, that doe derive their intereſts from him, it is determined by his Highneſſe Commiſſioners, that the Fee-ſimple of ſuch Houſes ſhall be valued at 15 yeares purchaſe, and the eſtates of the Under-tenants, at 8 li. in the Hundred, or 12 yeares purchaſe, and a half, or as neer that rate, as the condition of their eſtates will allow, without impoſing too great a proportion upon the Head-Land-lord, now by this enſuing Table, theſe fines or parts of rent may be ſo computed, as that all the Under-tenants ſhall be allowed between 7, and 8, in the Hundred for their purchaſe money, according as their intereſt is, whether for a longer or a ſhorter time, nevertheleſs then 7, that ſo the fine may fall ſomewhat more heavily upon the Head-Land-lord, then the Under-tenant, and never more then 8; leaſt the reverſion ſhould fall heavier then is intended, for the firſt 20 yeares, the preſent worth is here to be computed at the rate of 8 per Cent. and at the rate of 12 pence leſſe for every fourth year after, that is a leaſe of 24 years is computed at the rate of 7 l. 19.. per Cent. 28 at the rate of 7. 18 s. Cent. and ſo decreaſing 12 pence for every 4 years till you come to 100, for which time the rate is 7 per Cent. per Ann. now how ſuch Fines or parts of rent may be ſo computed by this Table, as that the ſeveral Fines, which are5 proportioned upon him that hath the Fee, and upon his Under-tenants ſhall in the whole make but one years rent, we will explain by example, taking it for granted, that the Reader already knowes, how the parts of a pound may be reduced into a Decimal, and the contrary.

1 Queſtion.

There is a Houſe let for 14 l. 10 s. in which A B hath 2. 10 s. for 11 years, C D hath 4 l. for 11 yeares and 6. 10 s. for 24 years after E F hath 8 l. for 35 yeares and the Fee, the queſtion is what every of theſe eſtates is worth in preſent money, and what each mans Fine or proprrtion of rent is, which he muſt pay for his intereſt.

For anſwer to this Queſtion: Firſt, compute the preſent worth of A B in this manner, the number in the Table anſwering to 11 yeares is 7.138963, now then I ſay,

If 1 l. Annuity, for 11 yeares be worth | 7.138963 |

2.5 | |

What is the preſent worth of and multiplying the ſecond and third terms together, the product is which is the preſent worth required. | 17.8474075 |

Now becauſe CD hath 4 l. for 11 years & 6.10 s. for 24 years after, I adde his number of years together, and they make 35, for which time I find the preſent worth of 6.10 s. to be 77.1726085, from6 deducting the preſent worth of 2.10 s. before found, the remainer is the preſent worth of 4 l, for 11 yeares, and of 6.10 for 24 years after.

The preſent worth of 6.10 for 35 yeares is | 77.17260 |

The preſent worth of 2.10 for 11 yeares ſubtract | 17.84740 |

The remainer is the preſent worth of CD required. | 59.32520 |

And to find the preſent worth of EF, who hath 8 l. for 35 years, and the Fee in reverſion, I compute the preſent worth of the whole eſtate at 15 years purchaſe, now the whole rent is 14.10, or 14,5, which being multiplied by 15, the Fee-ſimple is worth 217.5, from which deducting the preſent worth of 6.10 for 35 yeares 77.17260, which is the preſent worth of the eſtates of AB and CD added together, the remainer is the preſent worth of EF.

The preſent worth of 14.10 in Fee | 217.50000 |

The preſent worth of 6: 10 for 35 yeares ſubtract | 77.17260 |

The remainer is the preſent worth of EF, who hath 8 l. for 35 years, and the Fee in reverſion of 14.10. | 140.32740 |

Now the preſent worth of theſe 3 eſtates added together, doe make the preſent worth of the whole rent 14.10 at 15 yeares purchaſe.

The preſent worth of AB | 17.84740 |

The preſent worth of CD | 59.32520 |

The preſent worth of EF | 140.32740 |

The preſent worth of the Fee | 217.50000 |

Or being reduced into currant Money.

l. | s. | d. | |

The preſent worth of AB | 17 | 16 | 11 |

The preſent worth of CD | 59 | 06 | 06 |

The preſent worth of EF | 140 | 06 | 07 |

The preſent worth of the Fee | 217 | 10 | 00 |

And the preſent worth of each mans eſtate being thus found, the proportional part of the years rent which every man muſt pay for his intereſt, is eaſily found alſo; for the Fee being rated at 15 years purchaſe, it is apparent that one pound is the Fine of an eſtate, that is worth 15 pound in preſent money, and hence to diſcover the Fine of one pound, I ſay, if 15 give I, what ſhall 1 l. give? and the anſwer is 1 ſhilling, 4 pence, or the 15 part of a pound, and therefore the Fine of every mans preſent worth, is 16 pence in the pound; but becauſe the Fine, for the part of a pound, is in this manner ſomewhat troubleſome, if you divide the preſent worth of an eſtate, by 15, the Quotient ſhall be the Fine required.

Example, The preſent worth of AB 17.84740 being divided by 15, the Quotient is 1.18982 or 1 l. 3 s. 10 d.

And becauſe it is all one to divide by 5 and by 3, or to divide by 15, the Fine will ſomewhat more eaſily be diſcovered by ſuch diviſion,8 it being eaſier to divide by one digit, then by two. Thus dividing 17.84740 firſt by 5, the Quotient is 3.56948, and then dividing this Quotient by 3 the ſecond Quotient 1.18982, is the Fine required as before.

And becauſe it is all one to divide a number by 5, or to multiply the ſame number by 2 tenths, therefore if you multiply the preſent worth by 2 tenths, and divide the product by 3, the quotient will be the Fine required.

Example, The preſent worth of AB | 17.84740 |

which being multiplyed by 2, is | 3.56948 |

And this product divided by 3 gives in the Quotient as before | 1.18962 |

So that by either of theſe wayes the Fines or parts of rent may be diſcovered; And thus,

The Fine which AB muſt pay is | 1.18982 |

The Fine which CD muſt pay is | 3.95502 |

The Fine which EF muſt pay is | 9.35516 |

In all | 14.50000 |

Or in the parts of currant Money.

The Fine which AB muſt pay is | 1 | 03 | 10 |

The Fine which CD muſt pay is | 3 | 19 | 01 |

The Fine which EF muſt pay is | 8 | 07 | 01 |

In all | 14 | 10 | 00 |

And in this manner, may all other queſtions of the like nature be reſolved, I ſhall not therefore trouble thee with any farther Directions, but leave theſe ſuch as they are, to be peruſed and cenſured, as in thine own judgment they ſhall deſerve.