the latter; because the lands, which have been let for these ten or dozen years past were raised so high, that the owner can at present hardly receive any rent at all. For it is the usual practice of an Irish tenant rather than want land, to offer more for a farm, than he knows he can be ever able to pay; and in that case, he grows desperate, and pays nothing at all. So that a landtax upon a racked estate, would be a burden wholly insupportable.
The question will then be, how these national debts can be paid; and how I can make good the several particulars of my proposal; which I shall now lay open to the publick.
The revenues of their graces and lordships the archbishops and bishops of this kingdom, (excluding the fines) do amount by a moderate computation to 36800l. per ann. I mean the rents which the bishops receive from their tenants. But the real value of those lands at a full rent, taking the several sees one with another, is reckoned to be at least three fourths more; so that multiplying 36800l. by 4, the full rent of all the bishops lands will amount to 147200l. per ann., from which subtracting the present rent received by their lordships, that is 36800l., the profits of the lands received by the first and second tenants (who both have great bargains) will rise to the sum of 110400l., per ann.; which lands, if they were to be sold at twenty-two years purchase, would raise a sum of 2428100l., reserving to the bishops their present rents, only excluding fines.
Of this sum I propose that out of the one half, which amounts to 1214400l., so much be applied, as will entirely discharge the debts of the nation;
