Pennsylva Curr. Brought over £.97,778 10 0 7. Lands settled in the province, for which no grants are yet passed, except a few since the above account was taken, not less than 400,000 acres, which at 15/. 10s. amounts to . 63,000 0 0 The rent at an halfpenny an acre is 8331. 6s. 8d. a year sterling, reckoned as above is 27,500 0 0 £.188,278 10 0 -MANORS. 1 Conestogoe, 65 M. from the city, 13,400 acres, at 401. per H. 5360 0 0 9 About 20 tracts in the several counties, mostly 500 acres 9 Lot in the bank at the north end of the town 200 feet at 31. 10 A front and bank lot between Vine and Sassafras street, 102 feet at 61. . 11 Bank lot between Cedar and Pine street, 204 feet at 31. 12 Front lot on the side of Cedar, 102 3 16 Ditto 200 acres at 1s. sterling rent, and 165. per cent. is Lands within the draft of the town, at least 500 acres, 250 nearest Delaware, at 15%. per acre 250 nearest Schuylkill, at 107. per acre 17 Omitted.—Streiper's tract in Bucks county, 35 miles, 5000 acres, at 251. 18 The rents of the above manors and lands being 77,072 acres, at a halfpenny per acre. 20 years purchase, and 165 per cent. exchange, is The government to be calculated at no less than was to have been paid for it, viz. 11,000l. at 165 per cent. is 5398 12 0 £.233,972 20 18,150 0 0 Carried over £252,122 20 1250 0 0 Pennsylva. Curr. Brought over £.252,122 20 In this calculation no notice is taken of the thirds reserved on the bank lots (a copy of the patents J. Penn has by him to shew the nature of them*) and nine-tenths of the province remains undisposed of Three-fifths of all royal mines is reserved in the grants, and in all grants since the year 1732. One-fifth part No value is put on the proprietor's right to escheated Register general, about £.200 Besides several other offices of less value. These are only guessed at. The above paper has no date, but by sundry circumstances in it, particularly there being no value put on the thirds of the bank lots, because they were not then fallen in; and by the valuation put on the lands (which is very different from their present value) it must have been drawn while Mr. Thomas Penn resided in Pennsylvania, and probably more than twenty years ago: since which time a vast addition has been made to the value of the reserved lands, and a great quantity of land has been disposed of, perhaps equal to all preceding. We must therefore add to the above sum of 252,1227. 2s. the following articles, viz. 1. For the increased value of the lands of the Conestogoe manor now valued at 4007. per hundred acres, and in 48,240 0 0 2. For the increased value of Gilbert's manor, now worth 4001. per hundred acres, 10,560 0 0 Carried over £.311,922 20 * By these patents, at the end of fifty years, the proprietor was to have one-third of the value of the lots and the buildings, and other improvements erected on them. Pennsylva. Curr. 3. For ditto on Springfield manor, now worth 5007. per hundred acres, Brought over £.311,922 2 0 6800 0 0 7. For ditto on Richland's, now worth 450l. per hundred 6. For ditto on Vincent's manor, now worth 3001. per hundred acres, 4. For ditto on Highland's manor, now worth 350l. per hun dred acres, 5. For ditto on Springtown, now worth 4007. per hundred acres, 8000 0 0 36,500 0 0 53,000 0 Ó acres, 43,500 0 0 9. For ditto on the 20 tracts, now worth 3007. per hundred acres, 26,000 0 0 8. For ditto on Springetsbury, &c. at least 9. For ditto on all the articles of lots from No. 9 to 14, be 15. For ditto on the Marsh land, now worth 207. per acre, [On the next articles for the reserved rent, and the value 2685 0 0 5060 0 0 10,200 0 0 18,750 0 0 15,000 0 Ö Carried over £.537,217 2 0 * The lots of land within the plan of the town were originally promised to be given to the purchasers of land in the country. But that has been long since discontinued; and for many years past the proprietor has shut the office, and forbid his agents even to sell any more of them; intending to keep them all, till he can let them out on high ground rents, or on building leases. Five hundred acres divided into house lots, and disposed of in this manner, will alone make a vast estate. The old proprietor likewise in his plan of the city, laid out five large squares, one in each quarter, and one in the centre of the plan, and gave the same to the inhabitants for public uses. This he published in all his accounts of the country, and his papers of invitation and encouragement to settlers; but as no formal deed or conveyance of those squares is now to be found, the present proprietor has resumed them, turned them again into private property that the number of his lots may be increased; and his surveyor-general in his lately published plan of the city, has concealed all those squares by running intended streets over them. A proceeding equally odious to the people, and dishonorable to the family! Pennsylva. Curr. Brought over £.537,217 2 0 reckoning every 20 feet of ground with its improvements, one with another, worth 4807. the thirds being 160/. for each 20 feet, Thus far for the present value of what was then estimat ed, but since that time, very great quantities of land have been sold, and several new manors laid out and reserved; one of which, viz. that of Conedoguinet is said to contain 30,000 acres; the quantity sold since the estimate, must be at least equal to what was sold before, as the people are doubled, and the manors probably equal in quantity; we may therefore suppose, that a fair estimate of the lands sold, rents and manors reserved, and new towns laid out into lots, since the above estimate, would be at least equal to it, that is another tenth, and amount also to 573,6977. 28. For eight of these nine-tenths of the province which were not disposed of at the time of making the estimate; note, the province grant to William Penn is of three degrees of latitude, and five of longitude; each degree of latitude contains 69 1-2 statute miles, and each degree of longitude about lat. 40, contains 53 statute miles; so the dimensions of the province are 265 miles by 208 1-2, which gives for its contents 55,252 1-2 square miles or thirty-five millions, three hundred and sixty-one thousand, six hundred acres; eight tenths of this quantity, is 28,289,280 acres, which at 15/. 10s. per 100 acres (the present selling price) is For the yearly quit-rent on 28,289,280 acres at a halfpenny sterling per acre, is 58.9361. per annum, which at 165 per cent. and 20 years purchase, is For the additional value on one-tenth part, at least, of those eight-tenths, which being picked out of the best of the lands after every purchase from the Indians, before any private person is allowed to take up any, and kept for 20 or 30 years, is to be sold at a medium for 300 per 100 acres advance; this on 2,828,928 acres, is . For the three-fifths of all royal mines, and one-fifth of all other mines reserved to these lords proprietors, we 37,280 0 0 573,697 2 0 573,697 20 4,384,838 8 0 1856,484 0 0 8,486,784 00 Pennsylva. Curr. Brought over £.15,875,593 12 3 can as yet estimate no sum, and must leave it a blank as we find it, but since in the ridges of mountains not yet settled, some very valuable specimens of ores have been found by travellers, it is not unlikely this article may in time become considerable beyond computation. For the offices we shall likewise make no estimation, tho' they are greatly increased in number and value, with the increase of people; as we believe the proprietaries do not raise immediate money from the grants of those offices at present, they being chiefly disposed of to bribe or reward their partisans and favourites; in which however they may find their account. For the escheats we likewise add nothing; for though it is thought a valuable article, we have no information on which we can form any judgment concerning its value, it must however be continually increasing. There is another article, we are greatly at a loss about, which is the interest of money arising to the proprietors from securities on lands possessed by persons unable to make present payment. These pay not only quit-rent for the land but interest for the purchase money. This interest* is thought to be a very considerable income, but we cannot estimate it. The three lower counties on Delaware, which are a dis- Total in Pennsylvania currency, £ 15,875,500 12 0 But on the whole, it appears pretty clearly, that deducting all the artieles containing the valuation of lands yet unsold, and unappropriated within their patent, and the manors and rents to be hereafter reserved, and allowing for any small over-valuations in their present reserved lands and incomes [though it is thought if any be it will not be found to exceed the under-valuation in other instances] there cannot remain less than a million of property which they now at this time have in Pennsylvania. And in that province there are about twenty thousand families, to each of which, one with another, there does not belong more than three hundred pounds of property, if so much; which multiplied by twenty thousand gives six million pounds for the whole property of the people there. * See Fisher's account hereafter. |