"3. The old rent, £ 420 a year sterling, at ditto, is "6. Ferries let on short leases, the rents being "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 "The rent at an halfpenny an acre is £833 6s. 8d. a year sterling, reckoned as above, is 15,246 0 0 18,810 0 0 2,722 10 0 1,000 0 0 63,000 0 0 27,500 0 0 £188,278 10 0 "MANORS. Per h. "1. Conestogo, 65 m. fr. the city, 13,400 ac. at £40 5,360 0 0 "9. About twenty tracts in the several counties, mostly 500 acres each; reckoned 10,000 at £40 "8. {On the north side of the town, 4,000 0 O '9. Lot in the bank at the north end of the town 200 feet, at £3 600 0 0 10. A front and bank lot between Vine and Sassafras Street, 102 feet, at £6 11. Bank lot between Cedar and Pine Street, 204 feet, at £3. 612 0 0 "Carried over £218,337 10 0 "12. Front lot on the side of Cedar Street, 102 feet, at £3 306 0 0 "13. Ditto between Cedar and Pine Street, 160 feet, at £2 “14. Bank lot between same streets, 40 feet, at £2 "15. Marsh land near the town, 600 acres, at £3 "16. Ditto, 200 acres, at 1s. sterling rent, and 165 per cent, is "Lands within the draft of the town, at least 250 nearest Schuylkill, at £10 per acre "18 The rents of the above manors and lands, being 77,072 acres, at a halfpenny per acre, twenty 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. £11,000 at 165 per cent, is "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 show 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 of all other mines, delivered at the pit's mouth without charge, is also reserved. "No value is put on the proprietor's right to escheated lands; and, besides these advantages, several offices are in the proprietor's gift of considerable value. 320 0 0 8000 1,800 0 0 330 0 0 3,750 0 0 2,500 0 0 1,250 0 0 5,298 12 0 £ 233,972 2 0 18,150 0 0 "Carried over £252,122 2 0 * 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 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 £ 252,122 2 0 the following articles, viz. 1. For the increased value of the lands of the Conesto go manor, now valued at £400 per hundred acres, 48,240 0 0 2. For the increased value of Gilbert's manor, now 3. For ditto on Springfield manor, now worth £500 per hundred acres, 6,800 0 0 4. For ditto on Highland's manor, now worth £350 per 5. For ditto on Springtown, now worth £400 per hundred acres, 36,500 0 0 6. For ditto on Vincent's manor, now worth £300 per hundred acres, 53,000 0 0 7. For ditto on Richland's, now worth £450 per hun dred acres, 43,500 0 0 Carried over £ 458,722 20 Pennsylva. curr. Brought over £ 458,722 2 6 9. For ditto on the twenty tracts, now worth £300 per hundred acres, 8. For ditto on Springetsbury, &c. at least 9. For ditto on all the articles of lots from No. 9 to 14, being trebled in value, 15. For ditto on the marsh land, now worth £20 * 26,000 0 0 2,685 0 0 . 5,060 0 0 10,200 0 0 18,750 0 0 15,000 0 0 17. For ditto on Streiper's tract, now worth £325 per hundred, [On the next articles for the reserved rent, and the value of the government, we add no advance.] For the thirds of the bank lots and improvements on them, as they fell in after this estimate was made; reckoning every twenty feet of ground with its improvements, one with another, worth £480, the thirds being £160 for each twenty feet, 37,280 0 0 573,697 2 0 Carried over £573,697 20 *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 surveyorgeneral, 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 £573,697 2 0 Thus far for the present value of what was then estimated; 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 £ 573,697 2s. 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 691 statute miles, and each degree of longitude. about latitude 40, contains 53 statute miles; so the dimensions of the province are 265 miles by 208, which gives for its contents 55,252 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 £58,936 per annum, which, at 165 per cent and twenty years' purchase, is For the additional value on one tenth part, at least, 573,697 2 0 4,384,838 8 0 1,856,484 0 0 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 twenty or thirty years, is to be sold at a medium for £300 per 100 acres advance; this, on 2,828,928 acres, is 8,486,784 0 0 Carried over £ 15,875,500 12 0 |