and the remainder be laid up in the treasury, to supply contingencies, as well as to discharge some of our heavy taxes, until the kingdom shall be in a better condition.
But, whereas the present set of bishops would be great losers by this scheme for want of their fines; which would be a hard treatment to such religious, loyal, and deserving personages; I have therefore set apart the other half, to supply that defect, which it will more than sufficiently do.
A bishop's lease for the full term is reckoned to be worth eleven years purchase; but if we take bishops round, I suppose there may be four years of each lease elapsed; and many of the bishops being well stricken in years, I cannot think their lives round to be worth more than seven years purchase; so that the purchasers may very well afford fifteen years purchase for the reversion, especially by one great additional advantage, which I shall soon mention.
This sum of 2428800l. must likewise be sunk very considerably; because the lands are to be sold only at fifteen years purchase, and this lessens the sum to about 1656000l., of which I propose twelve hundred thousand pounds to be applied partly for the payment of the national debt, and partly as a fund for future exigencies; and the remaining, 456000l., I propose as a fund for paying the present set of bishops their fines; which it will abundantly do, and a great part remain as an addition to the publick stock.
Although the bishops round do not in reality receive three fines a piece, which take up 21 years, yet I allow it to be so; but then I will suppose them to
