The purchasers pattern In two parts, containing. I. The true value of any purchase of land or houses by lease or otherwise: also, a moderate discourse of usury. With many observations, and tables of intrest and rebatement. II. The true measuring of land, board, timber, and gauging of cask: and discovering the false rules and deceits which are used by many therein. With many other rules and tables of daily use for most men. The second edition corrected and enlarged. By Hen. Philippes.

THE PURCHASERS PATTERN.

IN the buying and selling of Land, and in the let∣ting and taking of Lea∣ses, either of Land or Houses, there are many things very considera∣ble; which may all be redoued to these three generall heads.

First, to the Law, to make the Bar∣gain sure.

Secondly, to Reason and Iudgement, to know the nature of that you pur∣chase.

Thirdly, to Arithmetick, to finde out the true value.

My chief purpose herein is to speak of this last, referring you in the other two, to your own judgement, and the counsell of others: yet because I am loath to let those who need some in∣structions herein, and will be willing to learn, go altogether without, I shall briefly speak somwhat to each of these.

And in the first place, as to matter of Law, take it as I finde it summed up in these Verses.

First, see the Land which thou intend'st to buy, Within the Sellers Title clear doth lie; And that no Woman to it doth lay claim, By Dowry, Joynture, or some other name That may it cumber. Know if bond or free The Tenure stand, and that from each Feoffee It be released. That th' Seller be so old, That he may lawfull sell, thou lawfull hold. Have special care that it not Morgag'd lie, Nor be intailed on Posterity.

Then if it stand in Statute, bound or no, Be well advis'd what Quit-rent out must go, What Custome-service hath been done of old By those who formerly the same did hold. And if a wedded woman put to sale, Deal not with her unlesse she bring her Male; For she doth under Covert-barren go, Although sometimes some traffique so (we know.) Thy bargain being made, and all this done, Have speciall care to make thy Charter run, To thee, thine Heirs, Executors, Assigns, For that, beyond thy life, securely bindes. These things fore-known, and done, you may prevent Those things rash buyers many times repēt. And yet when as you have done all you can, If you'l be sure, deal with an honest man.

Much might be said to this in point of law; but neither my skill nor time will afford it. It is the best way for every one, not to trust too much to his own

skill, but to use the help of some skil∣full Lawyer, and knowing Scrivener. And I shall onely adde this, that though the man you deal withall, have the repute of an honest man: yet trust nor too much upon that; but be carefull to have all the assurance made unto you, as if he were your utter enemy, or a very K.

IN the second place, before you can know the true value of the thing to be purchased, you must well consider the nature of the thing, and the casualties that it may be subiect to, and so ac∣cording to the goodnesse and certainty thereof, you must cast up the price at a greater or lesser rate of profit.

And to this purpose in the first place, take notice that the Rate allowed for Interest money, is the generall ground and rule to estimate the value of any purchase by.

This was formerly in Queen Eliza∣beths dayes allowed to be 10 pound for 100. But in King James's time, it was, upon very good grounds brought down

to 8 pound for an 100. And now of late, by our present State, it is allowed but to take 6 pound Interest for an 100. Now as the Interest of money falleth, so the price of all kinde of Purchases riseth. This you may see in the following Ta∣bles. And it must needs be so, because the lesse profit is allowed, the greater principall must be ••••pended to bring in the same profit. Thus when money was at 8 in the 100, then 75 pounds would bring in 6 pounds a year, where∣as money being but at 6 in the 100, an 100 pounds will bring in but the said 6 pounds a year.

But yet you must not think that this Rate allowed for Interest money, is the absolute rule of all Purchases; but as formerly, when money went at 8 for an hundred, yet Land was worth 18 years purchase: so now money is at 6 for the hundred, Land is well worth 20 years purchase. And though men who thus lay out their money upon Land, have but five in the hundred profit for their money; yet there may

be good reasons given why men should be willing so to do. As,

First, Because though every thing be subiect to casualty in this uncertain World; yet an estate in Land is lesse subiect to danger, and of more sure con∣tinuance, both for a mans own life, and his posterity after him.

Secondly, It hath been hitherto, and it is like to be so still, that the price of money falls cheaper, and the price of Land riseth dearer: and that not only (as I said before) in proportion to the rate of Interest, but in respect of the value of the things themselves; in such wise, that a ••a••me that formerly was worth but 30 pounds a year, is now worth 50 pounds, or more. So that the old Rents of Land, may in a short time be much improved, whereby the Land-Lord may in a short time mend his bargain, if it be any good peny-worth when he bought it.

Thirdly, In point of Piety, many

men had rather lay out their money in Land, though with lesser profit; then let it out to Interest: Because Usury, through the ill practises of many, hath gotten such an odious name, and been so generally condemned by many godly men.

Fourthly, There is much equity here∣in. For as men who have greater Stocks, and Trade by Whol-sale; 〈◊〉〈◊〉 live upon a lesser rate of profit than those who have but small Stocks, 〈◊〉〈◊〉 Trade by 〈◊〉〈◊〉. So men who have great Estates, to buy land therewith; may very well lay out their money at lesse profit then other men, and yet live better thereof. Thus a man that hath 4000 pounds, may purchase therewith 200 pounds a yeare, and may live bet∣ter thereupon, though he have but five pounds in the 100 profit for his money; then he that hath an estate of 1000 pounds in money, and puts it out to Interest at six pounds for an hundred, can live of 60 pounds the yearely Inte∣rest thereof. And hereupon the Empe∣rour

Justinian made a Law that Noble men and Earls should take but 4 pounds Interest for 100. Artificers might take 8 pounds. Merchant Adventurers 12 pounds, and other men 6 pounds in an hundred.

And thus much for the price of Land in generall, here in England it is worth 20 years purchase. In other Countreys, where money is plenty, and land scarce, it may be worth more; as in Holland land is worth 30 years purchase, and money not worth 3 or 4 per C nt. But in many other places it is worth lesse. Yea, as I am informed in Lincoln-shire very good land is sold for 15 or 16 years pur∣chase: these things the buyer and seller must confider of, and do therein, as their own judgement, and their occasions, and opportunities offered, will allow them the best bargain.

IN the next place it may be consider∣ed, after what Rate Leases of Land are fittest to be let. And that is accord∣ing to the present Rate of Interest mo∣ney, what ever it be; whether 5, 6, 7, or 8 in the hundred.

For first, It is not fit that they should pay more then their money will yield them; because they are men of smaller estates, and such as, for the most part, do with much care, cost and pains, get their Rent for their Land-Lords, who live many times at ease. And if their Land-Lord think they have too good a peny-worth, he wants not power and will to make him pay more for his next Bargain.

On the other side, it is not fit that these Leases should be let at any under Rate, both because they are certain, and lesse hazard therein, then in laying out their money any other way: and also, because the Land-Lord himselfe gives a dearer Rate, and so would here∣by be-too much damnified. And after this Rate you must value all other An∣nuit'es which are certain, and assured by Lands.

THe next thing I shall propose to you•• consideration, is th••••••••te which is to 〈◊〉〈◊〉 obferved 〈◊〉〈◊〉 letting and selling of Houses. And herein it will be very

requisite to consider of the many Casu∣alties which Houses are subject to.

As first from the Air, they are conti∣nually weather-beaten; and sometimes, by extraordinary windes and tempests, much rent and torne; so that in a short time they run to decay, if they be not continually kept in good repair.

Secondly, from the water likewise they receive continuall damage, even by the ordinary showers of rain, which are subject to soke in and rot, and spoil them, if not carefully prevented: and many times also extraordinary floods and inundations destroyes them in a moment.

Thirdly, though this destruction by water need not much be feared in many places; yet fire may be justly feared in all: which, if it once get the mastery, is a mercilesse enemy; and this it doth too-too often, and is not to be prevent∣ed by all our own care and watchful∣nesse, proceeding many times from the carelesnesse of a neighbour, or an idle servant.

Fourthly, the Earth it selfe, though it be their best friend, and for the most part upholds them; yet many times for the sins of the inhabitants, it trembles under them, throwes them down, or swallowes them up. By this meanes, whole Cities are sometimes destroyed in an instant: and though this seldome happens in our Island, yet in Queen Elizabeths dayes there were three of these Earthquakes; and though, bles∣sed be God, they did no great hurt; yet some they did in this particular.

But passing by all these perty and ex∣traordinary casualties, there is one more which, in my minde, is more to be con∣sidered then all the rest; and that espe∣cially, if a man buy an house not for his own use and habitation, but to let it out to others. And that is, that many times a man shall meet with an ill Tenant, that will scarce pay his Rent; and sometimes it may stand empty without a Tenant, and so bring in no profit at all; and also hereby it runs more spee∣dily to ruine. And this case is so much the more considerable, because it is so ordi∣nary;

and for this very reason, an house that stands void, is not worth so much by at least a years purchase, as another house that hath a good Tenant in it; and it is so much the worse if the house stands not in a good place, where it is like to be long without a Tenant: how∣soever a year is quickly gone, and a year lost at the beginning, is worth as much as two afterward.

All these things, though men do what they can to prevent them, and shift them off from themselves by Fines and Leases; yet they must needs fall either upon the Landlord or the Tenant, and many times fall heavy enough upon both.

For these and such like reasons, it was the usuall custome, when money was at eight in the hundred, to let Leases of Houses of 21 years, for 7 years purchase. By which reckoning (as you may see by the Tables follow∣ing) they allowed about 13 in the hun∣dred for the profit of their money to the buyers. For after 12 in the hundred one pound yearly rent for 21 years, is

worth 7 pounds, 11 shillings 2 pence, which is above 7 years and an halfe purchase, therefore bare 7 years pur∣chase yields more profit, and is much about 13 in the hundred.

Now if this rate were thought fit when money was at eight in the hun∣dred, then, now money is at six, such Leases may very well be let after the rate of ten in the hundred. And so one pound yearly Rent to continue 21 years is worth 8 pounds, 12 shillings and 11 pence, that is, 8 years, an halfe, and halfe a quarters purchase. And this I suppose to be the fittest rate for most ordinary houses.

But yet since some Houses being new and strongly built, need little or no reparations, and others, being old and decayed, need great and costly repara∣tions, and many times must be partly built, since these things lie commonly upon the Tenant, the better sort of Houses will be worth more, and the other lesse. So that the prizes of all these leases of Houses, may be reckoned after the rates of 8, 9, 10, or 12, per Centum.

And to conceal nothing from you in this point; the chief thing to be looked upon in this particular, is whether the yearly rent of the house be rated at such an easie rate, that the house is very well worth it, and will yield rather more then lesse. In this case, the house may be worth a years or two years purchase more then otherwise. But if the house be but rated according to its outmost value, it will be a dear peny-worth to give above the rate of 10 per Centum for it.

It may perhaps be objected against this, the great cost which men are at in building of Houses, so that if Leases of them yield no better rate, those who are at the cost to build them, will scarce have five or six in the hundred for their money laid out upon them.

To this it may be replyed, that Hou∣ses are things from whence the Tenant, for the most part, receiveth little or no profit, being chiefly sleeping holes to defend them from the injury of the weather; for which purpose many times lesse costly houses would serve the turn.

And therefore what ever men may lay out upon the building and beautifying of them, for their own pleasure and ac∣commodation, yet it will be the part of every wise builder, to lay out no more thereon, then is fitting and necessary, according to the place it stands in; that so the yearly rent may bring in some considerable profit, at least to the rate of eight in the hundred.

As for publique Buildings, either for strength or ornament, they are not to be measured by so private a Standard.

If any well affected persons, or Cor∣porations, having stocks of money ly∣ing by them, shall build in convenient places, or Towns wasted by fire, houses somwhat above the degree aforesaid; such men, though they receive lesse profit, yet they deserve more praise.

But as for those that lay out so much upon their private houses, that many times they would be glad to sell them again for half their cost; they may thank themselves for their losse; and may well be accounted foolish Builders,

that did not consider before hand, what it would cost them.

By what hath been said, you may perceive that Leases either of Land or Houses, are the most profitable Tenures for the ordinary sort of men. But yet you may desire to know whether an ordinary Lease of 21 years; or a longer Lease of 40, 50, or 60 years be best.

I start this question, to lay open the errour of many men, who proceed in these Bargains without sufficient know∣ledge in point of Art. And from hence it is that one concludes that a short Leas is most profitable, which he thinks thus sufficiently proved.

Saith he, Suppose a man hath 1000 pounds to bestow upon a Lease, if he will purchase a Lease of 100 years, it will cost 13 years purchase at the least, so your 1000 pounds will buy but 77 pounds a year, which doth not amount to the Use of your money after the rate of eight in the hundred: Whereas, if you will buy a Lease of 21 years, you may have it for seven years purchase,

(money being at the foresaid rate,) so your 1000 pounds will purchase you a Lease of 140 pounds a year, which is 60 pounds a year more then the Use of your money will come unto. So that in the longer Lease you will lose three pounds a year, and by the shorter Lease you will gain three score pounds a year more then your money will yield at Interest.

This reckoning I confesse is true ac∣cording to these erronious rules, by which most men make their bargains: and so for want of better knowledge, often times run themselves into very great dammages. The chiefe cause whereof proceeds from mens setting too low a price & value upon a short Lease, and too high a price and esteem upon a long Lease, which is only for lack of Art, And perhaps men may be deceived herein, reasoning thus with themselves, If a man gives 7 years purchase for a Lease of 21 years, it is 7 years before he receives his principall money again, and then he hath but 14 years more for the increase thereof, and in all the 21

years he receives his money laid out but three times over: Whereas, a man gi∣ving 13 years purchase for a Lease of 100 years; though it be 13 years before he receive his principall in again, yet then he hath 87 years of clear profit, and in the whole 100 years, receives his money laid out almost eight times over.

But this reason deceives men in con∣sidering too much of the often return of the money, and too little of the length of the time. For he that hath a Lease of 21 years, for seven years purchas••; it is true, he can in that 21 years make but a threefold return of his money: but then after those 21 years, he may make such another bargain for 21 years more, and so return his money three times more. And so continuing to do, in 105 years he may return his principall laid out 15 times over, ten times whereof will be clear gains; whereas the other shall gain little more then halfe so much.

Thus you see, count which way you will, it is manifest there is a very great

dis-proportion between the price of the long Lease, and the price of the short Lease; which ought not to be so. For what reason is there but that a man should have as good a peny-worth in a long Lease, as in a short one: And I suppose the intent both of buyer and seller is that it should be so: but all the fault lies in those false Rules and cu∣stoms; and may all with much right and reason be amended by Art.

The truth therefore is, the short Lease is much undervalued; and the long Lease is much over-valued. For in the short Lease, the buyer hath after 13 in the hundred allowed him for the profit of his money; whereas in the long Lease he hath not after 8. And the reason of this over-valuing the long Lease, is either for want of skill, or consideration what the money in that time, at Interest upon Interest will come to. Indeed all men have not time or skill to cast it up, and there is much want of Tables of sufficient length for this purpose, most Tables not exceeding 31 years. And this was the chief rea∣son

of my writing, and therefore I have inlarged my Tables to 100 years apiece: yet not all in single years, because the difference would be but small, in many of the years, and may be supplied well enough by esteemation and propor∣tion.

Now by these Tables you may plain∣ly see, that however men may esteem of a long Lease, yet in most of these things a Lease of 100 years is worth very little more then a Lease of 60 years; and a Lease of 60 years is not worth much more then a Lease of 31 years.

As for example, in the Table of ten in the hundred, the price of one pound to continue one and twenty yeares, is worth 8 pounds, 12 shillings, 11 pence, and the like for 31 years, is worth 9 pouunds, 9 shillings, 7 pence; yet the like to continue 60 years, is worth but 9 pounds, 19 shillings, 4 pence; and for 100 years, is not full 10 pounds.

But you will say, this is very strange, and few men think so.

I grant it, but the reason hereof is,

because men do not consider the profit which their money may yield them in so many years. For though it be not al∣lowed to take ten in the hundred yearly for money; yet those who have any employment for their money other∣wayes, may very well make at least ten in the hundred of it; and after this reckoning, one pound in 60 years will come to 300 pounds, and in 100 years to 13781 pounds; and on the other side, the Reversion of one pound 60 years hence, at this rate, is not worth a pen∣ny, and 100 years hence it is not worth the fourteenth part of a farthing.

By this you may see there is great need of Art which like an equall Umpire, between man and man, may declare the true value of any Lease for any time, so that one bargain shall not be too deare, and another too cheap, but each have a due proportion to the time of years; and so in this respect, there is no more advantage or profit in one kinde of Lease more then in another. But he that will not be ruled by Art, but will follow these, or such like, false Rules,

must (you see of necessity) either wrong himselfe or others, yea, and before he is aware, may wrong himselfe as soon as another, either in buying or selling such bargains.

In answer therefore to this question: this false conclusion and unjust practise being taken away, so that a man may have as good a penny-worth in a long Lease as in a shott Lease; it will plain∣ly appear, that a long Lease for the most part is the best (at least) for the Tenant. For suppose it be a Lease of Land, the Tenant having a long Lease, may and will strive to improve it what he can, because he is in hopes long to enjoy it, and receive the benefit thereof. And all this will be no great hurt to the Landlord, unlesse he be too greedy af∣ter great Fines, or loves alwayes to be raising his Tenants rents, and so many times as they impoverish their Tenants, their Tenants impair their Land.

Indeed for Leases of houses the case is more difficult, for they many times cannot well stand out a long Lease; but yet if a man must take such an house

that will require new building either in whole or in part, he had better then have a long Lease thereof, that so he may the longer and more certainly en∣joy it after his cost and pains bestowed upon it.

On the other side, when a man hath a short Lease either of land or an house, he dares not do what he would to im∣prove it, lest his Rent should be raised, or he turned out by the greedy covetous∣nesse of his Landlord, or the envious greedinesse of some evill neighbour.

If any one hath an ill bargain of these long Leases, it is the Landlord, and that is not so much because he shall receive so few Fines, but rather by his taking too great Fines of his Tenants, and so by the Fine to cut off so much the more of his yearly Revenue.

For you see that for all the money the Landlord receives for the Fines of those Leases, he rebates his Tenant for it, not onely after the rate of simple Inter∣est, but at Interest upon Interest, at six, eight or ten in the hundred, which you see increaseth so fast in 50 or 60 years,

that it eats out almost all the principall Rent, and makes the later half of the years to increase so little in value.

It is the best way therefore for Land∣lords, in these Leases, not to take over great Fines, but such as may be onely sufficient to binde their Tenants to keep to their bargains, and make them care∣full to perform their covenants, lest they forfeit their Leases, and lose their Fines. And this is the best and most politick end of these manner of Fines. And this will be best for the Tenant, and no hurt to the Landlord.

THere is one question more about the buying of houses, and that is, that if such long Leases of them do yield no more, what may be the value of them to buy them out right?

To judge the better of this, you must consider the strength and goodnesse of the house, and the Materials of which it is built; whether Timber, Brick, or Stone; In which respects some houses are able to stand many scores (if not some hundreds) of years more then

others, and when it comes to be pull'd down, these materialls may be worth somewhat, or serve to the new building thereof again. Now he that hath onely a Lease (though it be a long Lease) yet he hath none of this profit, but is bound to be at charge to uphold and maintain it in as good order as it was delivered to him.

Again, suppose these things are little worth, yet the very space and quantity of ground whereon the house stands, may in many places be very considera∣ble, insomuch that it is ordinary for men to build upon a Lease of 31 years, and yet pay a good reasonable Rent to their Landlord besides. Upon these accounts, the purchase of an house out-right, may well be worth two or three years pur∣chase, more then a Lease of an hundred years. So that though the Leases be not worth above 10 years purchase: yet the Fee-simple of an house may be worth 12 or 13 years purchase.

THere is another thing somewhat con∣siderable in the buying of Land and

houses, and that is the Taxes which for the present lie heavy upon them. But this I hope by Gods blessing in a short time will be taken off, so that it will be needlesse to give any rules about it. Yet to satisfie men in this, I shall set down this briefly. First, the taxes being known what they come to yearly, may be sub∣stracted from the outmost yearly value of the Land or house; and so what re∣maines, you may safely purchase accor∣ding to the rules aforesaid.

Yet since they may be taken off in good time, I would wish no man to be over-hasty to sell thus; but at least to divide the burthen of these taxes, be∣tween his Customer and himself.

THere is another way of purchasing Land or Houses, by buying Lives therein, And this is the ordinary rule for it. One Life in any thing is accounted of equall worth to a Lease of seven years. Two Lives are worth as much as a Lease of 14 years. Three Lives are worth as much as a Lease of 21 years. And so still increasing by seven years for every Life.

But this way of reckoning seemes to me somwhat unequall, since one or two may live as long as eight or ten, why should there be so great a difference ac∣counted? I confesse a mans life is very uncertain, and therefore I would wish any to take heed how they deale in such a way of purchasing: but yet consider∣ing on the one side, that by this means one is provided for as long as he lives, and when he is dead he need take no care: and on the other side, that if he be any thing young, or likely to live at all, he may live 20 or 30 years, what reason is there that the seller should be at so much hazard, as to venture 30 to 7 for a single Life?

Again, though two are better then one, A threefold Cord is not easily broken, yet it is not altogether so in mens lives, but many times three or four may die sooner then one, herein the buyer runs some hazard, which though with more reason then the seller before, yet it is sit he should have some consideration for it.

Therefore in my minde it were more

equall, if a single life were rated as a Lease of 12 years, or 10 at the least 〈◊〉〈◊〉, and so for any more Lives to decrease one year for every Life. And so they will be worth, as in this little Table.

1	Lives are of equall worth to a Lease of these Years, accor∣ding to the foresaid Rules and Tables.	12	Or	10
2	23	19
3	33	27
4	42	34
5	50	40
6	57	45
7	63	49
8	68	52
9	72	54
10	75	55
11	77
12	78

Thus much for these pre-considerati∣ons, I shall now set the Tables before you, shewing you the true value of any thing according to these Rules and Rates.

But in the first place, I shall set before you the manner of the construction and calculation of these tables, that so I may leave no just exceptions against what I have said, or shall say in this point.

The best & most artificial way to make these Tables, is to finde certain numbers in continual proportion decreasing, ac∣cording to the rate of the Interest pro∣pounded, which Numbers may shew the true worth of one pound principal at the end of any number of yeers. And then by addition of all these numbers one to the other, the fore-said Table of Pur∣chases from year to year is produced, which because they come out all in De∣cimalls of pounds, you may afterward reduce into pounds, shillings, and pence.

Thus let the rate of the Interest pro∣pounded be 6 in the 100, these numbers will be thus found.

As 106 li.: to 100∷ 1 li.: to 0,9434

You may increase these fractions as far as you will for the more exactness.

And thus much is 1 pound worth at the end of one yeer.

Then for the second yeer,

As 106, to 100; so 9434, to, 8900: which is the worth of one pound at the end of two yeers, so these two added to∣gether make 1,8334, which is the worth of one pound Annuity to continue two yeers.

So again do for the third yeer.

As 106 to 100; so, 8900 to, 8396. which added to the formermakes 2, 6730 which is the value of three yeers.

And so you must do for every other yeer, as long as you make your Table for.

As you may see by this short Table of 7 yeers at 6 in the hundred.

The decrease or worth of the Rever∣sion.	The worth of the Pur∣chase by Ad••ition.
1	,9434	0,9434
2	,8900	1,8334
3	,8396	2,6730
4	,7921	3,4651
5	,7472	4,2123
6	,7050	4,9173
7	,6651	5,5824

Thus there is nothing difficult, but onely the reducing of these numbers into the more known value of pounds, shillings, and pence, which may be per∣formed by this Table.

Note that I have abreviated this table to four places, considering this will be sufficient exactnesse, shewing the true value of one pound to the tenth part of

a farthing; and it is so much more ea∣sie in many other propositions, which I have shewed, to be wrought thereby. Also to make it more ready for you, I have set down the fractions from a far∣thing to a shilling in single farthings.

A Table of Decimall Fractions, shewing the propor∣tion of any number of shillings, pence, or farth•••••••• to a pound. The pound being divided into 10••••0 parts.

shil.	parts	d.	q.	parts	d.	q.	parts
19	9500	11	3	0490	5	3	0240
18	9000	11	2	0479	5	2	0229
17	8500	11	1	0469	5	1	0219
16	8000	11	0	0458	5	0	0208
15	7500	10	3	0448	4	3	0198
14	7000	10	2	0437	4	2	0188
13	6500	10	1	0427	4	1	0177
12	6000	10	0	0417	4	0	0167
11	5500	9	3	0406	3	3	0156
10	5000	9	2	0396	3	2	0146
9	4500	9	1	0385	3	1	0135
8	4000	9	0	0375	3	0	0125
7	3500	8	3	0365	2	3	0115
6	3000	8	2	0354	2	2	0104
5	2500	8	1	0344	2	1	0094
4	2000	8	0	0333	2	0	0083
3	1500	7	3	0323	1	3	0073
2	1000	7	2	0312	1	2	0063
1	0500	7	1	0302	1	1	0052
		7	0	0292	1	0	0042
		6	3	0281	0	3	0031
		6	2	0271	0	2	002••
		6	1	0260	0	1	••••1••
		6	0	0250	0	0	0000

Or if you like not these decemal Fra∣ctions, you may reduce the one pound into pence or farthings, and work as be∣fore. Thus if in pence.

As 106li. to 100li. so 240d. to 226d. 44/10••

Which reduced into shillings and pence, is 18 shillings, 10 pence, 2 far∣things ferè.

Or if you reduce the 20 shillings into farthings,

As 106li. to 100 li. so 960q. to 905q. 7••/10••

Which reduced, is as before 18 shil∣lings, 10 pence, 2 farthings, ferè

But in this if you proceed to make the Table for many years, you must have some respect to the fraction left; which is best by adding a cypher or two to the Divident, and so they will come in tens or hundred parts of a peny or farthing.

Now these Tables of Reversion being added together, make up the Tables of purchase. But I have not expressed these

Tables of Reversion; because I have made little use of them, onely in ma∣king the other Tables. If any would make use of them, or any part of them, they may easily take them out of the Tables of Purchase by Substraction, as I shall shew in its place.

Yet because this way is very tedious, and subject to errour, by reason of the many divisions and additions, if there be not great care had therein, and one fault herein may produce many; those who have skill in the use of L••garithms may thereby finde out the true value of any thing for any number of yeares, without respect had to the former years, which will be a shorter way, and serve as a proof to the Tables, in case of any doubt.

As now for example.

Let it be required to know the true va∣lue of a Lease of land to continue seven years after he rate of six in the hundred

First, take the Logarithme of 100,

from the Logarithme of 100 and the rate of Interest added together, which in this example is 106.

Secondly, multiply this Logarithme by the number of years; which in this example is 7.

Thirdly, divide 100 by the rate of the Interest, which is 6, and it will produce 16,6667; then take the Logarithme hereof, and adde it to the former Loga∣rithme, the product whereof will yield the Logarithm of the Arerages with the said summe for that time.

Fourthly, finde out the true number of these Arrerages, and out of them subtract the proportionall part of 100 before found, according to the rate of the In∣terest; so you shall have the bare Arre∣rages for that proportionall part:

Lastly, take the Logarithme of these last Arrerages, and substract from them the Logarithme found by the Multipli∣cation of the years (in the second rule) so you shall have the Logarithme of the true value of these Arrerages in ready money; the true number whereof being found out and reduced into pounds,

shillingst and pence, may be used as any number in the Tables.

106 Logarithme	2,0253058
100 Logarithme	2,0000000
Rests by Substraction	0,0253058
Which multiplied by 7	7
Comes to	0,1771406
16,6667 Logarithme add.	1,2218487
Yields	1,3989893

This is the Logarithme of
	25,0605
From which	16,6667	subtracted,
Rests	08,3938

8,3938 Logarithme	0,9239595
Logarithme by Multi∣plication of Years sub∣tracted,	0,1771406
Rests	0,7468189

Which is the Logarithme of 5,5824,

〈1 page duplicate〉〈1 page duplicate〉

〈1 page duplicate〉〈1 page duplicate〉

as in the little Table aforesaid, which reduced, is 5 pounds, 11 shillings, 7 pence, 3 farthings, and somewhat more, which I have set down in my Table, 5 pounds, 11 shillings, 8 pence, not accounting any Fra∣ctions under a peny.

A Table shewing the true value of one pound yearly Rent, to continue any number of years under 31, and from thence to 100 years, increasing by every tenth year, after the Rates of 5, 6, 7, 8, 9, 10, and 12 in the hundred, reckoning Interest upon Interest.

Purchase of Annuities at 5 per Centum.

		li.	sh.	d.
The number of Years to be purchased	1	0	19	00	The worth of one pound Annuity.
2	1	17	02
3	2	14	05
4	3	10	11
5	4	06	07
6	5	01	06
7	5	15	09
8	6	09	03
9	7	02	02
10	7	14	03
11	8	06	02
12	8	17	03
13	9	07	11
14	9	18	00
15	10	07	08
16	10	16	09
17	11	05	06
18	11	13	10
19	12	01	09
20	12	09	03
21	12	16	05
22	13	03	03
23	13	09	10
24	13	16	00
25	14	01	11
26	14	07	06
27	14	12	11
28	14	18	00
29	15	02	10
30	15	07	05
31	15	12	00
	In tens of years
40	17	02	05
50	18	0••	0••
60	18	18	07
70	19	06	10
80	••9	1••	1••
9	19	15	00
10••	9	16	00

Purchase of Annuities at 6 per Centum.

		li.	sh.	d.
The number of Years to be purchased.	1	0	18	10	The worth of one pound Annuity.
2	1	16	08
3	2	13	06
4	3	09	04
5	4	04	03
6	4	18	0••
7	5	11	08
8	6	04	02
9	6	16	00
10	7	07	02
11	7	17	09
12	8	07	08
13	8	17	01
14	9	05	11
15	9	14	03
16	10	02	01
17	10	09	07
18	10	16	07
19	11	03	02
20	11	09	05
21	11	15	03
22	12	00	10
23	12	06	01
24	12	11	00
25	13	15	08
26	13	00	01
27	13	04	03
28	13	08	01
29	13	11	10
30	13	15	04
31	13	18	07
	In tens of Years
40	15	00	08
50	15	14	06
60	16	03	03
70	16	07	08
80	16	10	02
90	16	11	07
100	16	12	04

Purchase of Annuities at 7 per Centum.

		li.	sh.	d.
The number of Years to be purchased.	1	0	18	08	The worth of one pound Annuity.
2	1	16	02
3	2	12	06
4	3	07	09
5	4	02	00
6	4	15	04
7	5	07	09
8	5	19	0••
9	6	10	04
10	7	00	06
11	7	10	00
12	7	18	10
13	8	07	02
14	8	14	11
15	9	02	02
16	9	08	11
17	9	15	03
18	10	01	02
19	10	06	08
20	10	11	11
21	10	16	08
22	11	01	3
23	11	05	5
24	11	09	5
25	11	13	1
26	11	16	6
27	11	19	6
28	12	02	9
29	12	05	7
30	12	08	2
31	12	10	8
	In tens of years.
40	13	06	7
50	13	15	8
60	14	00	9
70	14	03	2
80	14	04	5
90	14	05	1
100	14	05	5

Purchase of Annuities at 8 per Centum.

		li.	sh.	d.
The number of Years to be purchased.	1	0	18	06	The worth of one pound Annuity.
2	1	15	08
3	2	11	06
4	3	06	03
5	3	19	10
6	4	12	05
7	5	04	01
8	5	14	11
9	6	04	11
10	6	14	02
11	7	02	09
12	7	10	08
13	7	18	01
14	8	04	10
15	8	11	02
16	8	17	00
17	9	02	05
18	9	07	05
19	9	12	01
20	9	16	04
21	10	00	04
22	10	04	0
23	10	07	5
24	10	10	7
25	10	13	6
26	10	16	3
27	10	18	9
28	11	01	0
29	11	03	2
30	11	05	2
31	11	07	0
	In tens of Years
40	11	18	06
50	12	04	08
60	12	07	06
70	12	08	10
80	12	09	06
90	12	09	09
100	12	09	11

Purchase of Annuities at 9 per Centum.

		li.	sh.	d.
The number of Years to be purchased.	1	0	18	04	The worth of one pound Annuity.
2	1	15	02
3	2	10	08
4	3	04	09
5	3	17	09
6	4	09	09
7	5	00	08
8	5	10	08
9	5	19	11
10	6	08	04
11	6	16	01
12	7	03	02
13	7	09	09
14	7	15	09
15	8	01	03
16	8	06	03
17	8	10	11
18	8	15	01
19	8	19	00
20	9	02	07
21	9	05	10
22	9	08	10
23	9	11	7
24	9	14	2
25	9	16	6
26	9	18	7
27	10	00	6
28	10	02	4
29	10	04	0
30	10	05	6
31	10	06	10
	In tens of Years
40	10	15	02
50	10	19	03
••0	11	00	10
70	11	01	08
80	11	02	00
90	11	02	01
100	11	02	02

Purchase of Annuities at 10 per Centum.

		li.	sh.	d.
The number of Years to be purchased.	1	0	18	02	The worth of one pound Annuity.
2	1	14	08
3	2	09	08
4	3	03	04
5	3	15	09
6	4	07	01
7	4	18	04
8	5	06	08
9	5	15	02
10	6	02	10
11	6	09	09
12	6	16	03
13	7	02	00
14	7	07	04
15	7	12	01
16	7	16	05
17	8	00	05
18	8	04	00
19	8	07	03
20	8	10	03
21	8	12	11
22	8	15	5
23	8	17	7
24	8	19	8
25	9	01	6
26	9	03	2
27	9	04	8
28	9	06	1
29	9	07	4
30	9	08	6
31	9	09	7
	In tens of Years
40	9	15	07
50	9	18	04
60	9	19	04
70	9	19	09
80	9	19	11
90	9	19	11
100	10	00	00

Purchase of Annuities at 12 per Centum.

		li.	sh.	d.
The number of Years to be purchased.	1	0	17	10	The worth of one pomnd Annuity.
2	1	13	10
3	2	08	00
4	3	00	09
5	3	12	01
6	4	02	03
7	4	11	03
8	4	19	04
9	5	06	06
10	5	13	00
11	5	18	09
12	6	03	10
13	6	08	05
14	6	12	06
15	6	16	02
16	6	19	05
17	7	02	04
18	7	04	11
19	7	07	03
20	7	09	04
21	7	11	02
22	7	12	10
23	7	14	04
24	7	15	08
25	7	16	10
26	7	17	10
27	7	18	10
28	7	19	08
29	8	00	05
30	8	01	01
31	8	01	08
	In tens of Years
40	8	04	10
50	8	06	00
60	8	06	06
70	8	06	07
80	8	06	08
90
100

The Use of these Tables.

First, to know the price of any An∣nuity, to continue any number of years.

HAving, according to the former ob∣servations, considered the nature of the thing you intend to buy, & so found out after what profit you may fitly lay out your money upon it, whether at 5, 6, 7, 8, 9, or 10 in the hundred, according to the certainty or uncertainty of the thing: then to cast up what the value of the purchase will be, according to that rate, you must do thus.

First, finde the rate of the gain you would have for your money at the head of the Table, and finde the years of the

continuance of the Lease or Annuity on the side of the Table, and in that line under the foresaid rate, you shall finde what the purchase of one pound a year is worth, to continue the said num∣ber of years; by the which, with a lit∣tle addition, you may finde the true va∣lue of any other prized yearly income, whether it be little or great.

As for Example.

What is a Lease of ten pounds yearly value, to continue 21 years, worth in ready money, after the rate of six in the hundred interest?

By the Table you see that one pound a year to continue 21 yeares, after the said rate of six for the hundred, is worth 11 pound, 15 shillings, 3 pence. So then ten pound a year is worth ten times as much, which may be thus easily found.

Ten times 11 pound is	110	00	00
Ten times 15 shillings is	007	10	00
Ten times 3 pence is	000	02	06
In all	117	12	06

The like you may do by any other prized Annuity for any other time, and at any other rate of profit for your mo∣ney, as the nature of the thing re∣quires.

Thus the like of an house for 21 years, being reckoned by the Table of 10 pound per Cent. for one pound or 20 shillings Annuity is worth 8 pound, 12 shillings, 11 pence; therefore 10 pound per Annum is worth ten times as much, which you may reckon as before,

Ten times 8 pound is	80	0	0
Ten times 12 shillings is	06	0	0
Ten times 11 pence is	00	9	2
In all	86	9	2

But because men usually reckon bar∣gains

of this nature by the yearly reve∣nue of the thing, and use to say, such a thing is worth so many years purchase; this may also plainly and truly be done by the foresaid Tables: and though this way cannot be so exact as the other, yet for custome-sake take it thus.

The Tables are exactly cast up for one pound yearly revenue, at each of the said rates, so that in the summes set down therein, for every pound or 20 shillings you must reckon one years purchase; for ten shillings, half a years purchase, for five shillings, a quarter of a years purchase; and so for any summe under, proportionally.

Thus in the former example, you found that one pound, to continue 21 years, was worth 11 pound, 15 shillings, 3 pence, that is, 11 years purchase, and about three quarters of a years purchase, after which manner reckoning the ten pound yearly revenue. So,

Eleven times 10 pound is	110	00	00
And 3 quarters of 10 pound is	007	10	00
In all	117	10	00

Which is somewhat less then the former; because this way you cannot (as I said) reckon so exactly without some more trouble: for the Table shews you 11 pound, 15 shillings, 3 pence; and this way it is reckoned, as if it were but 11 pound, 15 shillings.

Though either of these wayes be ex∣act enough for most men, and most que∣stions of this nature; yet if any desire to be more exact, they will finde some trouble, when either the Annuity or the numbers in these Tables do not make even pounds, or at least common and known parts of a pound. In this case therefore if you will be curious to know the precise value, you must have recourse to the Table of Decimall Fractions, page 33. and thereby reduce both the price of the Annuity, and the price of

the purchase thereof set down in these Tables, into those fractions; and so multiplying one by the other, and re∣ducing the product thereof again by the said Decimall Table, you shall have the true value of the purchase exact∣ly.

Thus, let the Annuity be worth 55 pound, 12 shillings, 6 pence, and you desire to know the value thereof for 21 yeares after the rate of six per Cen∣tum.

This Annuity reduced by the Deci∣mall Table, will be 55 li. 625 op. and the Table shewes the worth of one pound for 21 years is 11 pound, 15 shillings, 3 pence, which reduced likewise is 11 li. 7625 p. now these two must be multiplied each by other; to which purpose set these two numbers thus.

11.7625
55.6250
588	1250
2352	50
70575	0
588125
588125
654.2890	6250

All the difficulty now is in finding out the value of this product. There∣fore observe first, that all the figures which are beyond the pounds, or Inte∣gers in the Multiplicator, are separated by the point (.) to distinguish them; and under this point there must be a perpendicular line drawn to cut off all the figures under them as uselesse.

Then from this line account four fi∣gures more in the product, (according to the places of the decimall Table) and there make a prick at 4; so the product appears to be 654 li. 2890. that is, 654

pound, 5 shillings, 9 pence, 2 farthings.

Or else to be more sure, cast it up as neer as you can the former way; and so you shall see whether 2, 3, or 4 of the first figures of the product stands for pounds, and the 4 next take for the fra∣ction.

II. There is another very necessary question easily resolved by these Tables, and that is, When any one doth ask of you such a summe of money, or so many yeers purchase for a parcel of land, lease, or house, to know what profit be allowes you for your money.

As now, Suppose you may have a lease of an house for 21 years, for eight years and an halfe purchase, what pro∣fit will your money yield you?

For this purpose; first, you must finde the number of years in the sides of the Tables, and look in the severall Ta∣bles untill you finde the said summe de∣manded, or the neerest you can finde to

it, then at the head of that Table, you shall finde the rate of the profit which your money brings you in.

Thus, if according to this example, you look over all the Tables, for eight yeers and an halfe purchase, that is 8 pounds, 10 shillings in the line of 21 years, you shall finde in the Table of 10 per Centum, at 21 years, 8 pounds, 12 shillings, 11 pence, which is the neerest summe that is to be found in all the Tables; and at the head of this Table you shall finde, your money brings you in by this bargain 10 in the hundred profit,

III. All this which hath been spoken of pur∣chasing of Leases, you may apply to Fines for the abatement of a greater or lesser part of the Rent of any thing.

Thus, if a Tenant would have 5, 10, or 20 pounds abated in his yearly Rent, it may be reckoned worth so ma∣ny

years purchase as the Tables shew for.

But now suppose a Landlord demand an 100 pound fine for the Lease of an house for 21 years, besides the yearly Rent. I would know how much year∣ly Rent this 100 pound doth counter-value after the rate of 10 in the hun∣dred.

In this case, you must take the summe set down in the Table, which for this example is 8 pounds, 12 shillings, 11 pence, and finde how many times it is conteined in an 100 pound; for so ma∣ny pounds of yearly Rent it counter-values.

Now this you may do by reducing the said 8 pound, 12 shillings, 11 pence in∣to pence; so it 2075 pence. Likwise in an 100 pound are 24000; this divided by the foresaid 2075, yields 11 in the quotient, and there remains 1175/2075, which is somewhat more then an half; so that it is above 11 pound, 10 shillings.

If you will know this more exactly, multiply 1175 parts of a pound by 20, so you have 23500, which divided by

the former number 2075, yields 11 shil∣lings in the quotient, and 675 remain∣ing.

Again, if you multiply this 675 by 12, it yields 8100, which divided by 2075, yields almost 4 pence, wanting onely halfe a farthing.

So that this 100 pound fine should countervalue according to this rate, 11 pound, 11 shillings 4 pence ferè of year∣ly Rent.

Or you may have recourse to the Table of Reduction following, and thereby reduce the summe into tenths of pounds.

Thus the said 8 pounds, 12 shillings, 11 pence reduced, is 8 pound, 6458; with this divide the price of your Fine, an 100 pound, adding some cyphers thereto, as need shall be. So in this example, the Fine being 100 pound, you shall finde 11 pound 566, that is, 11 pounds, 11 shillings, 4 pence ferè; and so much yearly Rent doth an 100 pound Fine countervalue at the rate of ten pound in the hundred for 21 yeares.

Lastly, you may see by the latter end of the Tables, what rate of profit your money yields you, buying any thing out right at any number of years purchase. Thus, at ten years purchase, your money yields you 10 per Centum profit, as you may see by that Table. At 12 years and an half purchase for the free simple, your money yields you 8 per Centum profit, as you may see by the end of the Table of 8 per Centum. And at 20 years purchase your money yields you but 5 per Centum profit.

And if you would know this more exactly, take this Rule, Divide an 100 by the number of years, the quotient will shew you the rate of the profit you have for your money.

Th•••• 100 divided by 12 years, the price of the purchase of the free simple, yields, 8, 3333, or 8 pound, 6 shillings, 8 pence for the rate of the profit.

So 100 divided by 18 years, yields 5, 5555, which is 5 pound, 11 shillings, 11 pence for the rate of your profit.

Or else if you divide an 100 by the rate of the profit you look to have, in

the buying of your purchase, you may see how many years purchase you may fully give for it.

Thus, Divide an 100 by 6, if that be the rate of the profit you desire in your purchase, and you shall finde 16 years and two thirds of a year, so many years purchase you may give, and yet make 6 in the hundred profit of your money.

By this a man having bought Land or Houses at any price, he may know which of the foresaid Tables he must use in the letting Leases thereof again, that he save or get by the bargain, as he shall think fit; or at least may know whether he gets or loses by the Leases he lets.

OF Reversions.

THus much for buying any thing which is presently to be possessed.

There are other kinde of purchases in Reversi∣on, when the thing yields no profit for the present, till some con∣siderable term of years be passed.

And in these bargains you must also look first into the quality of the thing, and the certainty thereof; and accord∣ingly seek out the value thereof at a greater or lesser rate of Interest.

And to this purpose there might be the Tables set down, shewing the true value of one pound in Reversion after any number of years. But I suppose this

needlesse, because it is included in the former Tables, and may easily be extra∣cted out of them: for if you begin at the head of any of those Tables, and substract the first line from the next fol∣lowing; and the second from the third, &c. to the end of 31, you shall make a true Table of Reversion, shewing the worth of one pound for any year to come.

But you may also know what the Re∣version of one pound will come to at any time to come without this trouble. For if you take the summe set down in the Tables, against the years of Reversion desired, and subtract the summe next above it, from it, the difference will shew you the true value of 20 shil∣lings so many yeares to come after∣ward.

Thus if you would know, what 20 shillings is worth 21 years hence, after the rate of money now, which is six in the hundred.

Here the years of Reversion being 21, and the rate of the Interest f••x in the hundred, you shall finde in that Table

against 21 years; 11 pounds, 15 shillings 3 pence, and in the line above it, 11 pounds, 9 shillings, 5 pence, which sub∣tracted out of the former, there remains 5 shillings, 10 pence, which is the true va∣lue of 20 sh. 21 years hence.

And thus you may do at any other rate, & for any number of years to 31, by the former part of the Tables. But becaus the latter end of the Table proceeding by ten years will not do the like; there∣fore, I have made this little Table, which in a generall way, shewes both the increase and decrease of twenty shillings principall, after any number of years.

The increase of 20 shillin. principall.	A Table of Reversions.	The decrease of twenty shillings.
5	6	8	10	12
Rate of the Interest.
Pounds	Number of years.	sh.	d.	q.
2	15	12	9	7	6	10	0	0
4	30	24	18	15	12	5	0	0
8	45	36	27	22	18	2	6	0
16	60	48	36	30	24	1	3	0
32	70	60	45	37	30	0	7	2
64	90	72	54	45	36	0	3	3
128	105	84	63	52	42	0	2	0
256	120	96	72	60	48	0	1	0
512	135	108	81	67	54	0	0	2
1024	150	120	90	75	60	0	0	1

The Use of this Table is thus.

FIrst, finde out your rate of Inte∣rest at the head of the Table; then look down in that column till you finde out the number of years desired; and then against this number of years, in that same line, up∣on the left hand, you have the increase of 20 shillings, and upon the right hand the decrease or worth of the Reversion of the said 20 shillings for the number of years desired.

Thus in the middle column of the Table, which is cast up at the rate of 8 per Centum, you shall finde that in 27 years one pound or 20 shillings will increase to 8 pound, and the Reversion of one pound is worth but 2 shillings, 6

pence, at the said time of 27 yeares hence

Note, If you cannot finde the num∣ber of years exactly, you may guesse at it by proportion.

Also, take notice, this general Table is not so exact as a particular Table hereof is, or ought to be, but yet will serve for the use I shall make there∣of.

And having either of these wayes found the value of one pound, you may by addition, finde the value of ten or twenty pounds or any other summe for the like time; which substracted out of the full worth of the thing, will give you the price of the Reversion there∣of.

Yet because this way is somewhat troublesome, and may much deceive you in regard of the different value of Land, Money and Leases, I suppose this following to be the plainer and the better way.

I. If you are to purchase the Reversion of a piece of Land.

First, consider how many years pur∣chase the Land is worth, if it were presently to be possessed, which is about 20 years purchase, for which account 20 pound.

Then look in the Table under the rate of six in the hundred, (which is the rate fittest for Leases of Land) how much the years, for which it is engaged, comes to.

Now substract this out of the other, and the remaining summe will give you the value of the purchase, accounting the pounds for years, and the shillings and pence for parts of a year.

Thus for example, any piece of Land being worth 20 years purchase, being in∣gaged by Lease, or otherwise, for 21 years, the Reversion will be worth eight years and a quarters purchase.

For the full value of it is	20	00	00
The Lease of 21 years at six in the hundred, comes to	11	15	03
Which substracted, shews	08	04	09

That is, eight yeares, and almost a quarter of a years purchase.

II. The like course you must take in purchasing the Reversion of Houses.

First, account their full value, and then substract the worth of the years for which they are ingaged, at rates accord∣ing to their goodnesse.

Thus reckoning a good new built house to be worth 12 years purchase, the reversion thereof after 21 years will be worth about three years, and a quar∣ter, and half a quarters purchase.

	li.	sh.	d.
For the full value being	12	00	00
The lease of 21 years at ten in the hundred comes to	08	12	11
Which subtracted, shews,	03	07	01

III. A Tenant hath some term of years in a Lease, and either he or his Landlord desires to have his years increased to any certain number.

To finde the true worth of such a bar∣gain, you need onely finde out by the Tables the true value of the whole num∣ber of years desired. Then finde out likewise the true value of the lesser number of years, that the Tenant hath already. Lastly, subtract the one from the other, and the remainer shews how many years purchase the thing is worth.

Thus a Lease of Land for 60 years, wherein the Tenant hath already a Lease of 21 years, is worth about 4 years and a half purchase.

	li.	sh.	d.
For the whole 60 yeares, at 6 per Cent. is	16	03	03
The 21 yeares at the same rate of 6 per Cent. is	11	15	03
Which substracted, rests	04	08	00

In like manner, a Lease of an house for 60 years, wherein a Tenant hath 21 years already, is worth one year, and a quarters purchase, and somewhat more.

	li.	sh.	d.
For 60 years after ten in the hundred, is worth	09	19	04
And 21 yeares at the same rate, is worth	08	12	11
Which subtracted, leaves	01	06	05

That is, about one year, and one quar∣ter of a years purchase: so that let the house be of what yearly Rent it will, the Lease will be worth one year, and

a quarter of a years purchase, and a∣bout a moneth over.

The like you may do for any othe•…•… number of years.

But these extraordinary long Lease are not so profitable for the Landlord for they yield him but little more read•…•… money then a Lease of 20 or 30 years shorter.

As now suppose a Landlord would make a Lease of Land up to 40 years wherein his Tenant hath 20 years to come, what may it be worth? you shal•…•… finde as before,

	li.	sh.	d.
The 40 years are worth at 6 per Centum,	15	0	〈◊〉〈◊〉
The twenty yeares at the same rate are worth	11	15	$wrod$
Which substracted, Rests	03	5	〈◊〉〈◊〉
Now the Lease for 60 yields but	4	8	〈◊〉〈◊〉

So that for little more then one years purchase he may save 20 yeares benefit to himself or his heires out of 60 years.

And if the Lease should be longer, as an 100 years, his damage would be worse.

So for a Lease of an house,

	li	sh.	d.
The 40 yeares at 10 per Centum are worth	9	15	7
The twenty yeares at the same rate are worth	8	10	3
Which substracted, Rest	1	5	4
The Lease for 60 years yielded	1	6	5

So that by this there will be 20 years saved out of the 60 for very little mo∣ney. So great losse comes by selling such long Leases, or Reversions.

And these Reversions are somewhat considerable in a shorter time; as thus,

Suppose a mans Lease is out within 3 years, and he desires to have a new Lease of 21 years, to begin when his 3 years are out, what is this Lease worth in ready money?

To finde out the worth of this, consi∣der

the time he hath in his old Lease, which is 3 years, and this added to 2•…•… yeors, makes it 24 years. Then look out the full worth of these 24, and sub∣tract from it the worth of the 3 years the rest is the value of the said Lease in ready money.

Thus, if it be a Lease of Land,

	li.	sh.	d.
24 years at 6 per Centum are worth	12	11	〈◊〉〈◊〉
And 3 years are worth	2	13	〈◊〉〈◊〉
Which substracted, Rests	9	17	〈◊〉〈◊〉

Which is ten years, lacking on•…•… half a quarters purchase, whereas 〈◊〉〈◊〉 Lease of 21 years presently to begin i•…•…redge•• worth 11 pound, 15 shillings, 3 pance that is, 11 years and three quarter purchase.

One question more, and so I shal•…•… conclude the use of these Tables:

A man hath his life in a parcell o•…•… Land, or in an house, and desires t•…•… have this Lease for life changed in•…•… a Lease of 21 years

	li.	sh.	d.
A Lease of 21 years of Land, at 6 per Centum is worth	11	15	3
His life (if strong & lusty) may be worth as much as a Lease of 10 years which at the same rate of 6 per Cent. is worth	7	7	2
Which substracted, Rests	4	8	1

And so much is it worth to have his Lease altered, viz. 4 years, and almost half a years purchase.

Many other Rules and Tables con∣cerning Annuities might be propounded, but these I think of most frequent use and necessary consequence, which thus you see may be all performed by this one sort of Tables.

BUt now since none of these bargains can be made without respect had to these or such like Tables of Interest, or Usury, wherein there must respect be had, not onely to simple Use, but to Use

upon use; I hope I may without of∣fence to any speak a word or two in the defence of Usury.

The Argument I shall use is onely this; That if it be not onely lawfull but necessary to give and take Use upon Use; then, at least, it may be lawfull, though not necessary, to give or take moderate simple Use, according to the allowance of the times.

That it is not onely lawfull but ne∣cessary, to take or give Use upon Use, is plainly manifest in all these kinde of bargains, which cannot be made any other way. Now the necessity of these bargains is manifest every day, and the lawfulnesse of them cannot be question∣ed, being so plainly allowed in the Word of God.

As for the purchasing of Land and Houses, this is plain, there are many instances of it: And it was a good law, which it were well, if it were still in force; That a mans Lands, either while he were living, or presently after his death, was to be exposed to sale for the payment of his debts. Indeed the

rules observed for the valuation of these purchases are not so plain. We read that Abraham paid 400 shekels of silver, for a field to bury his wife in, Gen. 23. which seemes to be a great price in those dayes. Jeremiah in the 32 Chap. of his Book paid but 7 shekels and 10 pieces of silver for the field he purcha∣sed.

The plainest law for these purchases is that in Levit. 25.14, 15, 16. If thou sell, &c. According to the number of years after the subile thou shalt buy of thy neigh∣bour, &c. According to the multitude of years, thou shalt increase the price thereof; and according to the so wnesse of years thou shalt diminish the price of it.

So that they could purchase but (as it were) Leases of Lond from Jubile to Jubile, which could be but 49 yeers at most; but how they ordered the price, according to the number of those years, it doth not appear.

I will not binde any to my conceit hereof, but when I was calculating the Table of 12 per Centum, perceiving it to

come up very neor to the highest price about 50 years, I presently thought tha•…•… by some such rule and rate of Intere•••• they might very fitly reckon the price of these purchases: for so by this ac∣count the longest Leases could be little better worth then a Lease of 50 years, which was the period of the Jubile.

If any think this was too great a ra•…•… of Interest for them to take of their bre∣thren: let them consider, that the Iewes ever were, and yet are very greedy of taking great Interest, viz. of 20 or 30 per Centum. For otherwise Nehemi•••• did very little ease the people, in defi∣ring the rich to release onely the hun∣dreth part of that which they did exact from their poor brethren, Chap. 5.13. which the Margine of our Bibles shew to be meant of the loane for the money, which if it were but at 5 or 10 per Centu•• would be but a shilling or two in an hundred pounds.

But however, the rate of the pur∣chase was, this is plain, that there was a consideration to be had to the number of the years, and that the price was to

be thereafter: So that there was a kinde of implicite Interest used in these pur∣chases.

But you will say, these bargains can∣not come within the compasse of Usu∣ry, because the buyer herein stands to all hazards.

I answer, that either his hazard is ve∣ry little, or for all hazards he is allow∣ed a sufficient recompence; so that for the most part he is upon a surer way of gain then the other; and his gain in ca∣suall things is so much overplus, that a man may with good profit take up mo∣ney at Interest to buy the bargains.

Indeed this point of hazard is much controverted in this case, some counting is unlawfull to contract for gain, un∣less they also contract for losse; as in partnership. And this they ground up∣on that Law, Exod. 22.14, 15. If a man borrow ought of his neighbour, and it be hurt or die, the owner thereof not being with it, he shall surely make it good. But if the owner thereof be with it, he shall not make it good: if it be an

hired thing, it came for the hire.

But this Text speaks little to that purpose, the substance of this law being still in force, and thus to be understood: If a man hire an horse or such like to go a journey, or plough, or such like; and the horse by some sall or other accident die, or be hurt therein, having no ill usage by the borrower, then the Londer can recover no recompence, but onely the hire of his horse, as was agreed upon between them. But if the borrow∣er misuse this beast, then he is liable to pay for it.

As for that phrase (the owner being by, or not being by) it may very well be understood of any other person, who is an indifferent witnesse between the two parties, to give testimony of the well or ill usage of the beast.

But though this be just, equall and usuall in things of this nature, yet it is not so in other things, which are more certain and not subject to such casual∣ties. No man will sell an hundred pounds worth of any commodities, to be

paid a twelve moneth hence for it, upon condition that the buyer makes a good market thereof, and gets by the bargain: but will look for his money agreed for, at the due time; and ought to have it, though the buye lose by the bargain. And though lending of money in this way is not altogether the same case, yet it is very like. Why may not he which lends an hundred pounds for a year be said to sell this hundred pounds worth of silver or gold, to be paid an hundred and six pounds of good money for it a∣gain at the years end? and why then may not he as justly demand his price agreed on at the due time, though the other have not made so good profit of it as he expected? as the other Creditour may demand his price agreed upon of his Debtor, though he have not made so good profit of it as he expected?

And to make this appear yet more e∣quall, consider that money is such a commodity that cannot of it self be im∣paired, as most other things will, so that it is the borrowers own fault, (for the

most part) if there be any great losse; and therefore the Lender ought to be free from any damage by the foresaid law, and the borrower is to bear all the losse; for the owner not being by, the bor∣rower is to make the thing borrowed good.

And yet for all this, as it is fit that in some cafes, where there are extraordina∣ry losses befall men, by the hand of God; the Creditour ought both in humanity and Christianity to have pity and pa∣tience toward his poor Debtor. So I hope there is no such Lenders of money, but will in the like cases be as forward as others, to approve themselves good and mercifull men. Otherwise, the best defence can be made for this course will not avail them, when God shall call them to an account, as he did that wicked servant for casting his fellow∣servant into prison.

But for this conditionall contract for losse and gain, it is good for nothing But to embroll men in suits of law; or to incourage and impower ill minded men to cozen others of their estates.

But you will say, this kinde of Usury hath not onely been condemned by the most part of the best of men, but by God himselfe is expresly forbidden, and ma∣ny curses and blessings pronounced by him in his Word to the keepers and breakers of this very law.

If this be so, the matter is not to be dis∣puted, but upon survey of the sacred Statutes, I cannot finde them so strict and severe in this particular.

The chief law declared by God him∣self against Usury, is that in the 23 of Deuteronomy, verse 19. Thou shalt not lend upon Ʋsury to thy brother, Ʋsury of money, Ʋsury of victuals, Ʋsury of any thing that is lent upon Ʋsury. Upon the breaking and keeping this law depends all the other promises and threats in the Scripture: therefore this place being cleered, all other Scriptures relating hereunto, will also be answered.

Now this at the first view seemes to be a generall law, forbidding all kinde of Usury. But I answer first, the outmost extent of this law, is that one Israelite might not lend upon Usury to another

Israelite. For in the very next verse they are permitted to lend upon Usury unto strangers, verse 20. Ʋnto a stranger thou mayest lend upon Ʋsury, but unto thy bro∣ther thou mayest not lend upon Ʋsury. And I see no reason to understand by these strangers such whom they might oppress and destroy, as some would interpret it; since God gave them so many Items and Commands to be kinde to strangers. And how dear it cost the Family of Saul, and the whole Kingdome of Israel to do otherwise, you may read in the 2 Book of Samuel, 21 Chap.

Again secondly, this generall law of Usury to their brethren seemes to be re∣streined to their poor brethren in the 25 of Leviticus, 35, 36, 37 verses, Exod. 22.25. so that it chiefly and principally, if not wholly and absolutely, belongs to them.

Thirdly, I see no reason, why this po∣litick law belonging to the Jews, and fitted to their condition, place, and times, should take so fast hold of us, as some would make it, especially con∣sidering the many other laws of this na∣ture,

which are not pressed upon us by these men. As their buying of Lands, which were all to return to the old poste∣rity in the year of Jubile, in Levit. 25. And that law of freedome from debts every seventh year, Deut. 15.1, 2, 3, 4. which is parallel to this of Usury in all respects. For first, it is laid down gene∣rally in verse 1, 2. Every Creditour that lendeth ought unto his neighbour, shall re∣lease it in the seventh year. Secondly, Notwithstanding this, it is permitted to demand it of strangers in the 3 Verse. Thirdly, it is permitted to take it of the rich brother in the 4 Verse, Save when there shall be no poor among you. So that the force of these Lawes, and the e••ui∣ty thereof, is to keep them and us onely from oppression of the poor. And from hence our law may be derived, that a Book-debt, without bill or bond, can∣not be recovered after seven years. Yet I hope no man will say, that in point of equity and conscience he is discha••••ed from the payment thereof, if he hath wherewith to pay it; neither that his Creditour doth offend either against

Gods law or mans, in requiring and re∣ceiving of him.

Fourthly, that this law against Usury was onely fitted to the state of the Jews, may be plain from the things forbidden to take Usury upon, which was victuals, and other things as well as money. So that there being few Merchants and Trades-men amongst them, Usury of money was very little necessary; and as for Usury of other things, it tended one∣ly to the oppression of the poor. Who would not spit in that mans face, and count him not worthy to live, that ha∣ving corn lying in store by him, would not lend his neighbour a bushell or two till his Harvest was reaped, a moneth or two after, without half a bushell for the use thereof? In such cases of com∣mon want and scarcity; it is not onely the duty of private men in charity to lend (if not give) to their poor neigh∣bours, but the publick Magistrate ought to look to it, that there be no such wick∣ed men as hoard and hide their corn: nay, more then this, in case of extream want and famine, it may be lawfull and

laudable for them to take the stores of corn into their own hands, and distri∣bute them to every one, as need shall re∣quire.

And this was the reason that Usury was forbidden by many other States: viz. the Greeks and Romans; not because it was against the light of nature, but a∣gainst the rules of policy. And though Aristotle saith, it is a monstruous thing for money to beget money, yet Solomon saith, Money answereth all things, Eccl. 10 19. and is the fittest thing of all others to be employed in Merchandize, and put out to Use.

In these times and places therefore, wherein there are many have so great stocks of money, which they have no way to employ; and others have wayes to employ money to profit, but want it; there may very well and fitly be a mu∣tuall and reciprocal advantage to both, by a moderate Interest upon money; which I hope I have plainly shewed to be allowed by the Lawes of God, and is permitted by the lawes of the most ci∣vil and well-ordered Countreys.

Yet I would have no man hereby har∣den his heart against his poor neigh∣bour, and withhold his hand from lending freely to him: nor to repine at the low rate of Interest allotted by the State; much lesse to sooth up himself in oppression or extortion. Let such know, though Usury be lawfull, yet it is scarce laudable. And if any by their unjust courses herein exceed the lawfull bounds, they deserve to finde no favour with men, however God deals with them.

In this case therefore I would have all men to take example by the Apostle Paul, 1 Cor. 10.23. All things are law∣full for me, but all things are not expedi∣ent. This way may be expedient for some, which is not so for others. Our Saviour in the 21th. of Matthew, in the parable of the Talents, seems to allow the idle servant rather to have put his Talent out to others to Usury, then to let it lie hid in the earth; (though they deserved most commendation that tra∣ded and gain'd therewith themselves.) So then for young Orphans, Widows,

and old people, who cannot so well deal in the world for themselves, this way is not onely lawful, but expedient. And for such it is that I plead, who cannot so well speak for themselves: As for o∣thers, who out of an idle and covetous minde, would by this meanes live in the world like Drones in the hive, upon the sweat of others browes; I suppose they are scarce able to answer sufficiently for the defence of themselves, and there∣fore would wish them to take some other course.

And to this purpose there is one step higher, which they that will attain to persection must endeavour after. Some things you see are lawful, some things are expedient, but some things are ex∣cellent. And these things we ought chiefly to follow. It may be lawful for all, and it may be expedient for some to lend upon Usury; but it is excellent for all to lend without Usury, and that e∣specially to the poor. There are three sorts of men, upon whom we may lay out our money upon a different account. To the rich we may lend upon Usury, for

our own sake: to our Brethren and Friends we ought to lend freely, for their sakes: to the poor we ought to give freely, for Gods sake. He that with an holy wisedome thus shares out his estate, to these three sorts of persons, deserves not the black brand of an U∣surer, but shall receive praise and profit both of God and men.

But the cries of the poor, will be very loud against those men, who, notwith∣standing the lawes of God and men to the contrary, do use such extortion and oppression to the poorer sort of people, as to make them pay not onely 6, 8, or 10, but 20, 30, or 40 in the hundred in greater summes, and much more in lesser.

It hath been accounted a favourable extortion among them, to lend twenty shillings upon a very sufficient pawn for six pence for one moneth of 28 dayes, and six pence or eight pence for their Bill or Bond; and so they make 13 shillings of their 20 in a year, which is, 65 pound of an hundred.

Others lend out to the poorest sort of people twelve pence for a moneth, for one peny profit; and this, though it seem but little to some, yet by this means they may gain 13 pence with their shilling in a year, which comes to an 108 pounds, 6 shillings, 8 pence, for an hundred.

Nay, some have been so unconsciona∣ble, as to take a peny a week for the use of twelve pence; and so for the 52 weeks in the year, it comes to 4 shillings, 4 pence, which is 433 pound, 6 shillings, 8 pence for an hundred.

But others are more cautious of comming thus within the danger of the Statute, and let their money out at the lawful rate, onely the Bill-money in∣creaseth their profit.

Again, others sell commodities to men at unreasonable rates, and then some of their partners buy it again for 20 or 30 in the hundred lesse; they be∣ing surely bound to pay the full price, and all their fees, and under-hand bribes beside.

Such men as these are justly odious, and may expect, that all the curses, and reproaches against this sin, will fully and speedily sall upon them, ex∣cept God give them grace to repent of it, and in some good sort to make resti∣tution.

To remedie this evill, it hath been the custome of some Cities beyond the Sea, (and the endeavours of some honest men to effect the like in this) to have publick bankes of money for charitable uses, out of which the poor might at a∣ny time upon a sufficient pawn, borrow any small summe of money, and yet pay very little for Interest or charges; but onely so much as needs must be al∣lowed towards the mainteining of some few Officers to dispose thereof.

Ten or twenty thousand pound in such a banke, might be a great relief to thir∣ty or fourty thousand poor folkes within the com••a••se of a year; yea though they paid after the rate of five or six in the hundred. And so they who laid in the moneys into the banke, might

receive 4 or 5 of it, and the rest go to the Officers for writing the bils, and delivering out the money and goods, which would be a great help to the poor, who are now forced to pay to their brokers after the rate of 30 or 40 pounds in the hundred; and little or no hinderance to those well-minded persons, who should put in money to be thus employed, since they might re∣ceive within twenty or fourty shil∣lings a year as much as their money will yield them in the purchase of Land, or letting it out to Interest to others.

But I fear in these unsetled and trou∣blesome times this will hardly be effect∣ed; and which is worse, much money that hath been given to Halls and publique places for the benefit of poor men and young beginners, is now lost or spent, or converted to other uses, which is an high offence against God, an injury both to the dead and to the living, and an ignominy to them∣selves.

And therefore, that men may the bet∣ter

take heed to themselves, both in giving and taking of the lawfull Interest, I have here added this Table of In∣terest after the rate of six in the hundred, being the rate appointed by the State for these present times.

A New and Exact Table of Interest, shewing the true Interest due upon any Sum of Money for any time at the Rate of 6 per Centum.

FOR the more exactnesse in this Table, in every Column the mo∣ney is reckoned not only in pounds, shillings, and pence, (which is ordinary) but each peny is divided into an hundred parts; which, though it may seem somewhat strange at first, yet they are easily then reckoned into farthings, which are more usuall with us. For twen∣ty five, which is a quarter of an hundred,

make one farthing; fifty of these parts are an half-peny; and seventy five are three farthings.

This considered, there will be, I hope, no difficulty in the Table.

TABLES OF INTEREST At Six per Centum.

	1 day.	2 dayes	3 dayes
li.	sh.	d.	c.	li.	sh.	d.	c.	li.	sh.	d.	c.
Shill.	5				1				2				3
10				2				4				6
15				3				6				9
Pounds	1				4				8				12
2				8				16				24
3				12				24				35
4				15				31				47
5				19				39				59
6				23				47				71
7				27				55				82
8				3••				63				94
9				35				71				6
Pounds	10				39				7••			1	18
20				79			1	58			2	37
30			1	1••			2	36			3	55
40			1	5••			3	15			4	7••
50			1	9••			3	94			5	••••
60			2	36			4	7••			7	10
70			2	7••			5	52			8	28
80			3	1••			6	31			9	46
90			3	••••			7	10		1	10	65
	100		0	3	••••		0	7	8••		0	11	83
	200		0	7	89		1	3	7••		1	11	67
	300		0	11	8••		1	11	67		2	11	5••
	400		1	3	78		2	7	56		3	11	34
	500		1	7	7••		3	3	4••		4	11	18
	600		1	11	67		3	11	3••		5	11	••••
	700		2	3	••••		4	7	••••		6	10	••••
	800		2	7	5••		5	3	1••		7	10	6••
	900		2	11	5••		5	11	••••		8	10	52
	1000		3	3	4••		6	6	90		9	10	5••

	4 day.	5 dayes	6 dayes
li.	sh.	d.	c.	li.	sh.	d.	c.	li.	sh.	d.	c.
Shill.	5				4				5				6
10				8				10				12
15				12				15				18
Pounds	1				15				19				23
2				31				39				47
3				47				59				71
4				63				78				94
5				78				98			1	18
6				94			1	18			1	42
7			1	10			1	38			1	65
8			1	26			1	58			1	89
9			1	42			1	77			2	13
Pounds	10			1	57			1	97			3	36
20			3	15			3	94			4	73
30			4	73			5	91			7	10
40			6	31			7	89			9	46
50			7	89			9	86			11	83
60			9	46			11	83		1	2	20
70			11	4		1	1	80		1	4	57
80		1	0	62		1	3	78		1	6	93
90		1	2	20		1	5	75		1	9	30
	100		1	3	78		1	7	72		1	11	67
	200		2	7	56		3	3	45		3	11	34
	300		3	11	34		4	11	18		5	10	1
	400		5	3	12		6	6	90		7	10	68
	500		6	6	90		8	2	63		9	10	35
	600		7	10	68		9	10	35		11	10	2
	700		9	2	46		11	6	8		13	9	69
	800		10	6	24		13	1	80		15	9	36
	900		11	10	2		14	9	53		17	9	4
	1000		13	1	80		16	5	26		19	8	71

	7 day.	8 dayes	9 dayes
li.	sh.	d.	c.	li.	sh.	d.	c.	li.	sh.	d.	c.
Shill.	5				7				8				9
10				13				15				17
15				20				23				26
Pounds	1				27				31				35
2				55				63				71
3				82				94			1	06
4			1	10			1	26			1	42
5			1	38			1	57			1	77
6			1	65			1	89			2	13
7			1	93			2	20			2	48
8			2	21			2	52			2	84
9			2	48			2	84			3	19
Pounds	10			2	76			3	15			3	55
20			5	52			6	31			7	10
30			8	28			9	46			10	65
40			11	4		1	0	62		1	2	20
50		1	1	80		1	3	78		1	5	75
60		1	4	57		1	6	93		1	9	30
70		1	7	33		1	10	09		2	0	85
80		1	10	09		2	1	24		2	4	40
90		2	00	85		2	4	40		2	7	95
	100		2	3	61		2	7	56		2	11	50
	200		4	7	23		5	3	12		5	11	1
	300		6	10	84		7	10	68		8	10	52
	400		9	2	46		10	6	24		11	10	2
	500		11	6	8		13	1	80		14	9	53
	600		13	9	69		15	9	36		17	9	4
	700		16	1	31		18	4	93	1	0	8	54
	800		18	4	93	1	1	0	49	1	3	8	5
	900	1	0	8	54	1	3	8	05	1	6	7	56
	1000	1	3	0	16	1	6	3	61	1	9	7	06

	10 dayes	20 dayes	30 dayes
li.	sh.	d.	c.	li.	sh.	d.	c.	li.	sh.	d.	c.
Shill.	5				10				19				29
10				20				39				59
15				30				59				88
Pounds	1				39				78			1	18
2				78			1	57			2	36
3			1	18			2	36			3	55
4			1	57			3	15			4	73
5			1	97			3	94			5	91
6			2	36			4	7••			7	10
7			2	76			5	52			8	28
8			3	15			6	31			9	46
9			3	55			7	10			10	65
Pounds	10			3	94			7	89			11	83
20			7	89		1	3	78		1	11	67
30			11	83		1	11	67		2	11	50
40		1	3	78		2	7	36		3	11	34
50		1	7	72		3	3	45		4	11	17
60		1	11	67		3	11	34		5	11	1
70		2	3	61		4	7	23		6	10	84
80		2	7	56		5	3	12		7	10	68
90		2	11	50		5	11	1		8	10	52
	100		3	3	45		6	6	90		9	10	35
	200		6	6	90		13	1	80		19	8	71
	300		9	10	35		19	8	71	1	9	7	06
	400		13	1	80	1	6	3	61	1	19	5	42
	500		16	5	26	1	12	10	52	2	9	3	78
	600		19	8	71	1	19	5	42	2	19	2	13
	700	1	3	0	16	2	6	0	32	3	9	0	49
	800	1	6	3	6••	2	12	7	23	3	18	10	84
	900	1	9	7	06	2	19	2	13	4	8	9	20
	1000	1	12	10	52	3	5	9	44	4	18	7	56

	1 Moneth	2 Moneths	3 Moneths.
li.	sh.	d.	c.	li.	sh.	d.	c.	li.	sh.	d.	c.
Shill.	5				30				60				90
10				60			1	20			1	80
15				90			1	80			2	70
Pounds	1			1	20			2	40			3	60
2			2	40			4	80			7	20
3			3	60			7	20			10	80
4			4	80			9	60		1	2	40
5			6	00		1	0	00		1	6	00
6			7	20		1	2	40		1	9	60
7			8	40		1	4	80		2	1	20
8			9	6••		1	7	20		2	4	80
9			10	80		1	9	60		2	8	40
Pounds	10		1	0	0		2	0	0		3	0	0
20		2	0	0		4	0	0		6	0	0
30		3	0	0		6	0	0		9	0	0
40		4	0	0		8	0	0		12	0	0
50		5	0	0		10	0	0		15	0	0
60		6	0	0		12	0	0		18	0	0
70		7	0	0		14	0	0	1	1••	0	0
80		8	0	0		16	0	0	1	4	0	0
90		9	0	0		18	0	0	1	7	0	0
	100		10	0	0	1	0	0	0	1	10	0	0
	200	1	00	0	0	2	0	0	0	3	00	0	0
	300	1	10	0	0	3	0	0	0	4	10	0	0
	400	2	00	0	0	4	0	0	0	6	00	0	0
	500	2	10	0	0	5	0	0	0	7	10	0	0
	600	3	00	0	0	6	0	0	0	9	00	0	0
	700	3	10	0	0	7	0	0	0	10	10	0	0
	800	4	00	0	0	8	0	0	0	12	00	0	0
	900	4	10	0	0	9	0	0	0	13	10	0	0
	1000	5	00	0	0	10	0	0	0	15	00	0	••

	4 Moneths	5 Moneths	6 Moneths
li.	sh.	d.	c.	li.	sh.	d.	c.	li.	sh.	d.	c.
Shill.	5			1	20			1	50			1	80
10			2	40			3	00			3	60
15			3	60			4	50			5	40
Pounds	1			4	80			6	0			7	20
2			9	60		1	0	0		1	2	40
3		1	2	40		1	6	0		1	9	60
4		1	7	20		2	0	0		2	4	80
5		2	0	00		2	6	0		3	0	00
6		2	4	80		3	0	0		3	7	20
7		2	9	60		3	6	0		4	2	40
8		3	2	40		4	0	0		4	9	60
9		3	7	20		4	6	0		5	4	80
Pounds	10		4	0	0		05	0	0		6	0	0
20		8	0	0		10	0	0		12	0	0
30		12	0	0		15	0	0		18	0	0
40		16	0	0	1	00	0	0	1	04	0	0
50	1	00	0	0	1	05	0	0	1	10	0	0
60	1	4	0	0	1	10	0	0	1	16	0	0
70	1	8	0	0	1	15	0	0	2	2	0	0
80	1	12	0	0	2	00	0	0	2	8	0	0
90	1	16	0	0	2	05	0	0	2	14	0	0
	100	2	0	0	0	2	10	0	0	3	0	0	0
	200	4	0	0	0	5	00	0	0	6	0	0	0
	300	6	0	0	0	7	10	0	0	9	0	0	0
	400	8	0	0	0	10	00	0	0	12	0	0	0
	500	10	0	0	0	12	10	0	0	15	0	0	0
	600	12	0	0	0	15	00	0	0	18	0	0	0
	700	14	0	0	0	17	10	0	0	21	0	0	0
	800	16	0	0	0	20	00	0	0	24	0	0	0
	900	18	0	0	0	22	10	0	0	27	0	0	0
	1000	20	0	0	0	25	00	0	0	30	0	0	0

	7 Moneths	8 Moneths	9 Moneths
li.	sh.	d.	c.	li.	sh.	d.	c.	li.	sh.	d.	c.
Shill.	5			2	10			2	40			2	70
10			4	20			4	80			5	40
15			6	30			7	20			8	10
Pounds	1			8	4••			9	60			10	80
2		1	4	••••		1	7	20		1	9	60
3		2	1	20		2	4	80		2	8	40
4		2	9	60		3	2	40		3	7	20
5		3	6	00		4	0	00		4	6	00
6		4	2	40		4	9	60		5	4	80
7		4	10	80		5	7	20		6	3	60
8		5	7	20		6	4	80		7	2	40
9		6	3	60		7	2	40		8	1	20
Pounds	10		07	0	0		08	0	0		09	0	0
20		14	0	0		16	0	0		18	0	0
30	1	01	0	0	1	04	0	0	1	07	0	0
40	1	08	0	0	1	12	0	0	1	16	0	0
50	1	15	0	0	2	00	0	0	2	05	0	0
60	2	02	0	0	2	08	0	0	2	14	0	0
70	2	09	0	0	2	16	0	0	3	03	0	0
80	2	16	0	0	3	04	0	0	3	12	0	0
90	3	03	0	0	3	12	0	0	4	01	0	0
	100	3	10	0	0	4	0	0	0	4	10	0	0
	200	7	00	0	0	8	0	0	0	9	00	0	0
	300	10	10	0	0	12	0	0	0	13	10	0	0
	400	14	00	0	0	16	0	0	0	18	00	0	0
	500	17	10	0	0	20	0	0	0	22	10	0	0
	600	21	00	0	0	24	0	0	0	27	00	0	0
	700	24	10	0	0	28	0	0	0	31	10	0	0
	800	28	00	0	0	32	0	0	0	36	00	0	0
	900	31	10	0	0	36	0	0	0	40	10	0	0
	1000	35	00	0	0	40	0	0	0	45	00	0	0

	10 Moneths	11 Moneths	12 Moneths
li.	sh.	d.	c.	li.	sh.	d.	c.	li.	sh.	d.	c.
Shill.	5			3	0			3	30			3	60
10			6	0			6	60			7	20
15			9	0			9	90			10	80
Pounds	1		1	0	0		1	1	20		1	2	40
2		2	0	0		2	2	40		2	4	80
3		3	0	0		3	3	60		3	7	20
4		4	0	0		4	4	80		5	9	60
5		5	0	0		5	6	00		6	0	00
6		6	0	0		6	7	20		7	2	40
7		7	0	0		7	8	40		8	4	80
8		8	0	0		8	9	60		9	7	20
9		9	0	0		9	10	80		10	9	60
Pounds	10		10	0	0		11	0	0		12	0	0
20	1	00	0	0	1	02	0	0	1	04	0	0
30	1	10	0	0	1	13	0	0	1	16	0	0
40	2	00	0	0	2	04	0	0	2	08	0	0
50	2	10	0	0	2	15	0	0	3	00	0	0
60	3	00	0	0	3	06	0	0	3	12	0	0
70	3	10	0	0	3	17	0	0	4	04	0	0
80	4	00	0	0	4	08	0	0	4	16	0	0
90	4	10	0	0	4	19	0	0	5	08	0	0
	100	5	0	0	0	5	10	0	0	6	0	0	0
	200	10	0	0	0	11	00	0	0	12	0	0	0
	300	15	0	0	0	16	10	0	0	18	0	0	0
	400	20	0	0	0	22	00	0	0	24	0	0	0
	500	25	0	0	0	27	10	0	0	30	0	0	0
	600	30	0	0	0	33	00	0	0	36	0	0	0
	700	35	0	0	0	38	10	0	0	42	0	0	0
	800	40	0	0	0	44	00	0	0	48	0	0	0
	900	45	0	0	0	49	10	0	0	54	0	0	0
	1000	50	0	0	0	55	00	0	0	68	0	0	0

The use of these Tables.

NOw to finde the Interest of any sum of money for any time, by this table: first, look the summe of money on the side of the Table; then finde the time re∣quired at the head of the Table; and in the square meeting of these two, your shall finde the Interest thereof. Onely note, if you cannot finde your summe of money, or the time all at once; you must take it at two or three times; and so adde them together.

Thus the Interest of 146 pounds for six moneths will be found thus.

	li.	sh.	d.	c.
100 pounds for 6 moneths is	3	0	0	0
40 pounds for 9 moneths is	1	4	0	0
6 pounds for 6 moneths is	0	3	7	20
In all	4	7	7	20

Which is 4 pounds, 7 shillings, 7 pence, and 20 hundred parts of a peny, that is, almost a farthing, as I noted before.

And thus you may do for any other summe of money, and for the more ex∣actnesse, I have set down the Interest-money, not onely in moneths, but in single dayes to a moneth. Now a moneth in these Tables is supposed to be just the twelf part of a year, but yet it is ordinarily reckoned by the usuall moneths of the year, Ianuary, February, March, &c.

But this way of reckoning by Moneths is not altogether so exact as it might be wished; for some Moneths have but 30 dayes, and others 31, and February

hath commonly but 28. And therefore it may be worth the while (especially in great sums) to look more curiously into the time, and count it by dayes •• for otherwise there may be wrong done either to the lender or borrower una∣wares.

For instance, suppose a bond made the 10th. of February for six moneths, or half a year, the ordinary time. If you reckon by moneths, it will be due the 10th. of August: but since there are 365 dayes in a year, the half thereof is 182 dayes and an half, but you cannot reckon lesse then 183 dayes; and if you account these 183 dayes from the 10th. of February, they will reach to the 12th. of August. So that by reckoning the time by the moneths, the borrower will pay the money two dayes too soon. Now if the sum of money be but 1000 pound, the Interest for those two dayes will be 6 shillings, 7 pence (very neer) and so much wrong the borrower re∣ceives, and the Statute (perhaps) is broken hereby,

To remedy this; I have observed, that Scriveners usually make such Bonds, to be paid alwayes two dayes after the day whereon the Bond is dated.

But herein also they may do as much or more wrong on the other side, though with lesse danger of breaking the Sta∣tute. For, suppose a Bond be made up∣on the 10th. of August, they (accord∣ing to this rule) make it to be paid the 12 of February; whereas accounting 183 dayes (as they ought to do) for the half year, the Bond will be (justly) due upon the 9th. of February: and so by this means the Lender loseth three dayes Interest.

Again, if a Bond be made the 10th. of February to be paid the 12 of Au∣gust; although in this (by chance) there is no wrong to either party: yet if a new Bond be made this 12 of August, to be paid the 14 of Febru∣ary, the Lender you see in the whole year loseth four dayes, which is very considerable in great sums of money, or when Bonds are often renued.

To avoid these inconveniences, I

have made this following Table; by which you shall know both the exact time of any part of a year in dayes; and also the Interest which is due for any time or number of dayes. Onely here∣in I must intreat you to walk a step further into the Art of Arith∣metick; and instead of Addition to use Mul∣tiplication.

Tables of Interest at 6 per Centum.

	D.	Januar.	D.	Februa.	D.	March
1	1	001.643	32	052.606	60	098.630
2	2	003.287	33	054.246	61	100.273
3	3	004.931	34	055.890	62	101.917
4	4	006.575	35	057.534	63	103.561
5	5	008.219	36	059.178	64	105.205
6	6	009.863	37	060.821	65	106.849
7	7	011.506	38	062.465	66	108.493
8	8	013.150	39	064.109	67	110.136
9	9	014.794	40	065.753	68	111.780
10	10	016.438	41	067.397	69	113.424
11	11	018.082	42	069.041	70	115.068
12	12	019.726	43	070.684	71	116.712
13	13	021.369	44	072.328	72	118.356
14	14	023.013	45	073.972	73	120.000
15	15	024.657	46	075.616	74	121.643
16	16	026.301	47	077.260	75	123.287
17	17	027.945	48	078.904	76	124.931
18	18	029.589	49	080.547	77	126.575
19	19	031.232	50	082.191	78	128.219
20	20	032.876	51	083.835	79	129.863
21	21	034.520	52	085.479	80	131.506
22	22	036.164	53	087.123	81	133.150
23	23	037.808	54	088.767	82	134.794
24	24	039.452	55	090.410	83	136.438
25	25	041.095	56	092.054	84	138.082
26	26	042.739	57	093.698	85	139.726
27	27	044.383	58	095.342	86	141.369
28	28	046.027	59	096.986	87	143.013
29	29	047.671			88	144.657
30	30	049.315			89	146.301
31	31	050.958			90	147.945

Tables of Interest at 6 per Centum.

	D.	April	D.	May	D.	June
1	91	149.589	121	198.904	152	249.863
2	92	151.232	122	200.547	153	251.506
3	93	152.876	123	202.191	154	253.150
4	94	154.520	124	203.835	155	254.794
5	95	156.164	125	205.479	156	256.438
6	96	157.808	126	207.123	157	258.082
7	97	159.452	127	208.767	158	259.726
8	98	161.095	128	210.410	159	261.369
9	99	162.739	129	212.054	160	263.013
10	100	164.383	130	213.698	161	264.657
11	101	166.027	131	215.342	162	266.301
12	102	167.671	132	216.986	163	267.945
13	103	169.315	133	218.630	164	269.589
14	104	170.958	134	220.273	165	271.232
15	105	172.602	135	221.917	166	272.876
16	106	174.246	136	223.561	167	274.520
17	107	175.890	137	225.205	168	276.164
18	108	177.534	138	226.849	169	277.808
19	109	179.178	139	228.493	170	279.452
20	110	180.821	140	230.136	171	281.095
21	111	182.465	141	231.780	172	282.739
22	112	184.109	142	233.424	173	284.383
23	113	185.753	143	235.068	174	286.027
24	114	187.397	144	236.712	175	287.671
25	115	189.041	145	238.356	176	289.315
26	116	190.684	146	240.000	177	290.958
27	117	192.328	147	241.643	178	292.602
28	118	193.972	148	243.287	179	294.246
29	119	195.616	149	244.931	180	295.890
30	120	197.260	150	246.575	181	297.534
31			151	248.219

Tables of Interest at 6 per Centum.

	D.	July	D.	August	D.	Septem
1	182	299.178	213	350.136	244	401.095
2	183	300.821	214	351.780	245	402.739
3	184	302.465	215	353.424	246	404.383
4	185	304.109	216	355.068	247	406.027
5	186	305.753	217	356.712	248	407.671
6	187	307.397	218	358.356	249	409.315
7	188	309.041	219	360.000	250	410.958
8	189	310.684	220	361.643	251	412.602
9	190	312.328	221	363.287	252	414.246
10	191	313.972	222	364.931	253	415.890
11	192	315.616	223	366.575	254	417.534
12	193	317.260	224	368.219	255	419.178
13	194	318.904	225	369.863	256	420.821
14	195	320.547	226	371.506	257	422.465
15	196	322.191	227	373.150	258	424.109
16	197	323.835	228	374.794	259	425.753
17	198	325.479	229	376.438	260	427.397
18	199	327.123	230	378.082	261	429.041
19	200	328.767	231	379.726	262	430.684
20	201	330.410	232	381.369	263	432.328
21	202	332.054	233	383.013	264	433.972
22	203	333.698	234	384.658	265	435.616
23	204	335.342	235	386.301	266	437.260
24	205	339.986	236	387.945	267	438.904
25	206	338.630	237	389.589	268	440.547
26	207	340.273	238	391.232	269	442.191
27	208	341.917	239	392.876	270	443.835
28	209	343.561	240	394.520	271	445.479
29	210	345.205	241	396.164	272	447.123
30	211	346.849	242	397.808	273	448.767
31	212	348.493	243	399.452

Tables of Interest at 6 per Centum.

	D.	October	D.	Novem	D.	Decem.
1	274	450.410	305	501.369	335	550.684
2	275	45••.054	306	503.013	336	552.328
3	276	453.698	307	504.657	337	553.972
4	277	455.342	308	506.301	338	555.616
5	278	456.986	309	507.945	339	557.260
6	279	458.630	310	509.589	340	558.904
7	280	460.273	311	511.231	341	560.547
8	281	461.917	312	512.876	342	562.191
9	282	463.561	313	514.520	343	563.835
10	283	462.205	314	516.164	344	565.479
11	284	466.849	315	517.808	345	567.123
12	285	468.493	316	519.452	346	568.767
13	286	470.136	317	521.095	347	570.410
14	287	471.780	318	522.739	348	572.054
15	288	473.424	319	524.383	349	573.698
16	289	475.068	320	526.027	350	575.342
17	290	476.712	321	527.671	351	576.986
18	291	478.356	322	529.315	352	578.630
19	292	480.000	323	530.958	353	580.273
20	293	481.643	324	532.602	354	581.917
21	294	483.287	325	534.246	355	583.561
22	295	484.931	326	535.890	356	585.205
23	296	486.575	327	537.534	357	586.849
24	297	488.219	328	539.178	358	588.493
25	298	489.863	329	540.821	359	590.136
26	299	491.506	330	542.465	360	591.780
27	300	493.150	331	544.109	361	593.424
28	301	494.794	332	545.753	362	595.068
29	302	496.438	333	547.397	363	596.712
30	303	498.082	334	549.041	364	598.356
31	304	499.726			365	600.000

The Use of these Tables.

THe Tables are so plaine, that I suppose they need no de∣monstration, being made in the form of a plain Almanack. Onely I shall shew the use thereof in two or three examples.

I. If a bond be dated the 10th. of February, when is the half year, or 183 days out?

First, in these tables you shall find a∣gainst the 10th. of February, the num∣ber 41, which shews, it is the one and for∣tieth day from the beginning of the year; and then if you add 183 dayes being the half year to this 41, it makes 224 dayes. Then look forward till you finde this number, which you shall find in this table

against the 12th. of August; and this is the day when the half yeer is finished.

II. How many days is it from the 10th of Au∣gust. to the last of December?

In this you must substract the later time out of the, former time. Thus, against the last of December, you shall finde 365 days, and against the 10th. of August 222 days, which substracted out of the other, there remaines 143, and so many are the dayes required.

But because many times it will be needfull to know the days which fall out in severall years, and so the number, out of which you should substract, will be lesser then the number which you should substract out of it: in thit case you may first finde the days to that years end, and then add the lesser number which fall out in the year following thereunto.

III. Thus, if you would know how many dayes it is from the tenth of August to the ninth of February.

First from the tenth of August to the years end, as before was found to be 143 dayes; and to this if you adde the dayes found against the ninth of February which are 40, it will make 183 dayes, or halfe a year, and not the 12 of Fe∣bruary, as I noted before.

The like you may do for any other number of dayes, or any other time of a year, only take notice that the year consisting of 365 dayes, the parts there∣of exactly are thus:

• One moneth, or a twelfth part of a year, is 30 dayes, 10 hours.
• Three moneths, or one quarter, 91 dayes, 6 hours.

• Six moneths, or an half, 182 dayes, 12 hours.
• Nine moneths, or three quarters, 273 dayes, 18 hours.

But to keep without danger of the Statute, and to allow some favour to the borrower; if you reckon the parts of the Interest-money by the time, then reckon thus,

• For one moneth, or the twefth part of a year, 31 dayes.
• For three moneths, or one quarter, 92 dayes.
• For six moneths, or an halfe, 183 dayes.
• For nine moneths, or three quarters, 274 dayes.

For though six pound be due for an hundred pound at the years end, yet three pound is not due for 182 dayes, and in this there is no need to reckon half dayes; and therefore you must take 183 dayes for the half year.

IV. To know what is the true use of any summe of money for any number of dayes, after the rate of six per Centum.

Having found out the true number of dayes, as is before shewed; finde out this number of dayes in the Table, and there you shall finde in a decimall Fraction the true Interest of one pound for the said time: So that the proporti∣on will be thus,

• As 1li. or 1.0000,000,
• ...To the number in the Tables;
• ...So any number of pounds inquired,
• ...To the like number required.

Take this number therefore, and mul∣tiply it by your principall summe, and then cutting off the seven last figures toward your right hand, the remainer

will shew you the pounds which it comes to, and the figures cut off, they are a fraction of a pound. But now in the valuation whereof, you need make use but of the first four figures, reckoning the first figure doubled, and it will shew the shillings; if the second figure be more then five, take five out of it and reckon one shilling more for it; lastly, the re∣mainer of that above five, and the next following figure, will shew the farthings very neer, if you abate but one in 25. Or you may find the true value of these first four figures in the decimall table page 33.

For example.

What is the Interest of 555 pounds, for about half a year, or 183 dayes?

The number against 182 dayes is

		.0299.178
This multiplied by 555		555
		1495890
	1	495890
	14	95890
Yields	16	6043,790

Which, acording to the former rules and Tables, comes to 16 pound 12 shil∣ings 1 peny, and a little more, viz. scarce two tenth parts of a farthing.

And thus you may do for any other number of even pounds: and if you think this too much labour, then if your prin∣cipall money be not very much, you need take out but the first 4 figures of the Tables to be multiplied (which are therefore separated from the rest by the [.]) and then you must cut off but 4 fi∣gures from the product, and those will exactly agree with the decimall Table.

Thus, the 4 first figures of the former

number		,0299
Multiplied by		555
		1495
	1	495
	14	95
Yields	16	5945

Which is 16 li. 12 shil. very neer.

But if you will be more exact and know also the interest of shillings and pence, if there be any shillings and pence belonging to your principall summe; you must first reduce them into one decimall fraction, by the Table, and then take the 4 first figures of this number in the Table, and multiply them together. And observe how many figures you multiply by, and cut off so many figures from the end of the product, the rest of the figures; if they be three, put one cipher before them; if they be two, put two cyphers before them, to make them agree to the 4 places in the Table and seek•• that s••m in the decimall Table, which will shew the true value thereof. Note, that it can∣not

exceed 0600, which is 1 shilling 2 p••nce 40 hundred parts.

Thus for example, if your principall summe were 555 pound, 11 shillings, the Interest of the 11 shillings must thus be found;

The Interest for 182 dayes is	,0299
11 shil. reduced into decimals is	55
	1495
	1495
	,0164	45

By cutting off the two last figures, and adding one cypher to the beginning to make the three figures to four places; the sum is 0164, which in the decimall Table shewes 4 pence very neer.

Or yet more exactly, if you adde this to your former product of the 555 li.

li.
16,6043790
,016445
16,6208	240

So the whole Interest appears to be 16 pound, 12 shillings, 5 pence.

But, me thinks, I hear some taxing of me for being so scrupelous in account∣ing the Interest of money by dayes, and not rather teach some way, how a just abatement should be made for those payments which are made before the year is fully out. For the Act allowes to take 6 pound in the hundred for the whole yeare; now if a man takes 3 pound per Centum for the half year; the said 3 pound in the other half year will yield, at the same rate, 1 shilling, 9 pence, 2 farthings; and thus, some think, a man takes more then the Act allowes, and comes within the danger thereof.

But the Law herein looks upon the

year as the fittest measure of time to proportion the Interest by; and the in∣tent of the law is to restrain the grosser abuses of Extortioners, and not to take notice of such niceties a•• this; which would have made it either very large and tedious, by appointing exact Tables for it, moneth by moneth, nay day by day; or else intricate, and full of snares for men to fall into. The plain meaning of the law is this; that, as a year should measure the time, so the said 6 pound should proportion the In∣terest; the parts of the one answering to the parts of the other; neither al∣lowing any Interest upon the Interest, for the time under or over a year, nor tying any man to let or take up money for the whole year.

And the usuall custome therefore in this case is a good Comment upon this Law; by which most Bonds of this nature are made to be paid at six moneths end, and yet the full half of the whole years Interest allowed; which would never have been so long and frequently done, if it had been

thought any breach of the Statute.

And therefore, though there might be an allowance made by way of re∣batement, and the cause may seem somewhat like, yet it is not the same; neither doth the strictest rebatement used among Merchants, take any notice thereof, but is grounded upon another cause, as you may see more in the next particulars.

OF Rebatement.

MErchants, though they sel∣dome let out money to use, yer they often take up much; and that not onely the com∣mon way by Bond, which I spake of be∣fore, but by way of rebatement; which is thus.

A Merchant being to sell any commo∣dity, he either sells it for ready money, or to be paid at a certain time, viz. 3, 6, or 12 Moneths after. But the bar∣gain being thus made, it often falls out, that with good convenience, to the buy∣er, or seller, or both, to have this mo∣ney paid before it be due; and then there is and ought to be an allowance or ••••batement between them out of the

principall, according to the rate of In∣terest-money allowed at that time.

Now this rebatement hath been usu∣ally reckoned by the Tables ordinary Interest, abating so much out of the principall debt, as the use of the said principall would come to in the time agreed upon. But in reckoning thus, there will alwayes be some dammage to the Creditour who doth abate, which though in little summes, will not be much, yet in greater summes of money, such as this rebatement is most used in, it will be very considerable, and is of late used by the most skilfull Mer∣chants.

For example.

The Interest of an hundred pound for six moneths comes to 3 pound. But Now suppose A oweth to B an hun∣dred pound, to be paid six moneths hence: and A and B are agreed to give and take rebate; here ought not to be 3 pound abated out of the hundred pound. Indeed, if the debt had been

103 pound, then there should have been 3 pound abated out of the debt; but there being but an hundred pound due in all, and that not till the end of six moneths; there must be so much a lesse proportion for the abatement, as there is a difference between 103 and 100; which may be thus found by the rule of proportion,

li.	li.	li.	li.
As 103,	to 100;	so 100,	to 97.0874.

Which is 97 pound, •• shilling, 9 pence. So that there is onely 2 pound, 18 shil∣lings, 3 pence to be abated, and not 3 pound, as by the other reckoning.

Therefore if you would finde out the worth of any debt, duc hereafter in rea∣dy money; First, finde out by the Ta∣bles of Interest, what an hundred pound will yield in the time desired: then work by the rule of proportion thus,

• As an 100 pound, with the Interest thereof for that time,
• Is to an 100 pounds;
• ...So the debt to be paid at that time,
• ...To its worth in ready money.

Thus, to finde the worth of an hun∣dred pound, due 12 moneths hence.

As 106, to 100; so 100, to 94.3396.

Which is 94 pound, 6 shillings, 9 pence, 2 farthings. So that here is not six pounds to be abated out of the 100 pound, (as some have thought) but 5 pound, 13 shillings, 2 pence, 2 far∣things. And thus the cred tour may save 6 shillings, 9 pence, 2 saithings, which by the other way of reconing he will re∣bate in his own wrong. And if the sum be greater, or the time of payment long∣er, his damage will be more.

Again, you see that this money to be rebated doth not increase equally, in an equall time; there was 2 pound, 18 shil∣ngs, 3 pence, to be abated out of the

100 pound, due at 6 Moneths, but there is but 5 pound, 13 shillings, 2 pence, 2 far∣things to be abated for the 100 pounds due at 12 Moneths; which is not the double of the other, for so it should have been, 5 pound, 16 shillings, 6 pence. So that these Tables must be cast up for every Moneth at the least, which is the most usuall way of reckoning the times of payments among Merchants, and thus I have drawn them out to 24 Moneths, which is as long (I think) as any Merrchant de∣sires to trust.

TABLES OF REBATEMENT, At Six per Centum.

Rebate at 6 per Centum.

	1 Moneth	2 Moneths	3 Moneths
li.	sh.	d.	c.	li.	sh.	d.	c.	li.	sh.	d.	c.
Shill.	5				30			1	59				89
10				60			1	19			1	77
15				90			1	78			2	66
Pounds	1			1	19			2	37			3	54
2			2	39			4	75			7	09
3			3	58			7	12			10	64
4			4	78			9	50		1	2	18
5			5	97			11	87		1	5	73
6			7	17		1	2	25		1	9	28
7			8	36		1	4	62		2	1	83
8			9	56		1	7	00		2	4	37
9			10	75		1	9	37		2	7	92
Pounds	10			11	94		1	11	76		2	11	47
20		1	11	88		3	11	52		5	10	93
30		2	11	82		5	11	29		8	10	40
40		3	11	76		7	11	05		11	9	87
50		4	11	70		9	10	81		14	9	34
60		5	11	64		11	10	58		17	8	80
70		6	11	59		13	10	34	1	0	8	27
80		7	11	53		15	10	10	1	3	7	74
90		8	11	47		17	9	86	1	6	7	21
	100		9	11	40		19	9	62	1	9	6	68
	200		19	10	80	1	19	7	24	2	19	1	36
	300	1	9	10	20	2	19	4	87	4	8	8	04
	400	1	19	9	61	3	19	2	49	5	18	2	72
	500	2	9	9	01	4	19	0	12	7	7	9	40
	600	2	19	8	41	5	18	9	74	8	17	4	08
	700	3	9	7	82	6	18	7	37	10	6	10	76
	800	3	19	7	22	7	18	4	99	11	16	5	44
	900	4	9	6	63	8	18	2	61	13	6	0	12
	1000	4	19	6	03	9	18	0	23	14	15	6	79

	4 Moneths	5 Moneths	6 Moneths
li.	sh.	d.	c.	li.	sh.	d.	c.	li.	sh.	d.	c.
Shill.	5			1	18			1	46			1	75
10			2	35			2	93			3	49
15			3	53			4	39			5	25
Pounds	1			4	70			5	85			6	99
2			9	41			11	71		1	1	98
3		1	2	12		1	5	56		1	8	97
4		1	6	82		1	11	41		2	3	96
5		1	11	53		2	5	27		2	10	95
6		2	4	24		2	11	12		3	5	94
7		2	8	94		3	4	97		4	0	93
8		3	1	65		3	10	83		4	7	92
9		3	6	35		4	4	68		5	2	91
Pounds	10		3	11	06		4	19	54		5	9	90
20		7	10	12		9	9	07		11	7	80
30		11	9	18		14	7	61		17	5	70
40		15	8	23		19	6	15	1	3	3	61
50		19	7	29	1	4	4	68	1	9	1	51
60	1	3	6	35	1	9	3	22	1	14	11	42
70	1	7	5	41	1	14	11	76	2	0	9	32
80	1	11	4	47	1	19	00	29	2	6	7	22
90	1	15	3	53	2	3	10	83	2	12	5	13
	100	1	19	2	59	2	8	9	16	2	18	3	03
	200	3	18	5	18	4	17	6	73	5	16	6	06
	300	5	17	7	76	7	6	4	10	8	14	9	09
	400	7	16	10	35	9	15	1	46	11	13	0	12
	500	9	16	0	94	12	3	10	83	14	11	3	14
	600	11	15	3	53	14	12	8	19	17	9	6	17
	700	13	14	6	12	17	1	5	56	20	7	9	20
	800	15	13	8	70	19	10	2	93	23	6	0	23
	900	17	12	11	29	21	19	0	29	26	4	3	26
	1000	19	12	1	88	24	7	9	66	29	2	6	29

	7 Moneths	8 Moneths	9 Moneths
li.	sh.	d.	c.	li.	sh.	d.	c.	li.	sh.	d.	c.
Shill.			2	03			2	31			2	58
10			4	06			4	61			5	17
15			6	09			6	97			7	75
Pounds.	1			8	11			9	23			10	33
2		1	4	23		1	6	46		1	8	67
3		2	0	35		2	3	69		2	7	00
4		2	8	46		3	0	92		3	5	34
5		3	4	58		3	10	15		4	3	67
6		4	0	69		4	7	38		5	2	01
7		4	8	83		5	4	62		6	0	34
8		5	4	93		6	1	85		6	10	68
9		6	1	04		6	11	08		7	9	01
Pounds.	10		6	9	16		7	8	31		8	7	35
20		13	6	32		15	4	61		17	2	70
30	1	0	3	48	1	3	0	92	1	5	10	05
40	1	7	0	64	1	10	9	23	1	14	5	40
50	1	13	9	80	1	18	5	54	2	3	0	75
60	2	0	6	96	2	6	1	85	2	11	8	10
70	2	7	4	12	2	13	10	15	3	0	3	45
80	2	14	1	28	3	1	6	46	3	8	10	80
90	3	0	10	44	3	9	2	77	3	17	6	15
	100	3	7	7	59	3	16	11	18	4	6	1	49
	200	6	15	3	19	7	13	10	15	8	12	2	98
	300	10	2	10	78	11	10	9	23	12	18	4	48
	400	13	10	6	38	15	7	8	3••	17	4	5	97
	500	16	18	1	97	19	4	7	3••	••1	10	7	46
	600	20	5	9	57	22	1	6	46	25	16	8	95
	700	23	12	5	16	26	18	5	54	30	3	10	45
	800	27	1	0	76	30	15	4	61	34	9	11	94
	900	30	8	8	35	34	12	3	69	38	15	1	44
	1000	33	16	3	95	38	9	2	77	43	1	2	93

	10 Moneths	11 Moneths	12 Moneths
li.	sh.	d.	c.	li.	sh.	d.	c.	li.	sh.	d.	c.
Shill.	5			2	85			3	1••			3	40
10			5	71			6	25			6	79
15			8	57			9	39			10	19
Pounds.	1		0	11	43		1	0	51		1	1	58
2		1	10	86		2	1	02		2	3	17
3		2	10	29		3	1	53		3	4	75
4		3	9	71		4	2	04		4	6	34
5		4	9	14		5	2	56		5	7	92
6		5	8	57		6	3	07		6	9	51
7		6	8	00		7	3	58		8	11	09
8		7	7	43		8	4	09		9	0	68
9		8	6	86		9	4	61		10	2	26
Pounds.	10		9	6	28		10	5	12		11	3	85
20		19	0	57	1	0	10	2••	1	2	7	70
30	1	8	6	86	1	11	3	35	1	13	11	55
40	1	18	1	14	2	1	8	••7	2	5	3	40
50	2	7	7	43	2	12	1	59	2	16	7	25
60	2	17	1	71	3	2	6	7••	3	7	11	15
70	3	6	8	00	3	12	11	83	3	19	2	95
80	3	16	2	29	4	3	4	95	4	10	6	80
90	4	5	8	57	4	13	10	07	5	1	10	65
	100	4	15	2	86	5	4	3	18	5	13	2	49
	200	9	10	5	71	10	8	6	37	11	6	4	98
	300	14	5	8	57	15	12	9	55	16	19	7	47
	400	19	0	11	43	20	17	0	74	22	12	9	96
	500	23	16	2	29	26	1	3	92	28	6	0	45
	600	28	11	5	15	31	5	7	11	••3	18	2	94
	700	33	6	8	00	36	9	10	29	39	12	5	43
	800	38	1	10	86	41	14	1	48	45	5	7	93
	900	42	17	1	72	46	18	4	66	50	18	10	42
	1000	47	12	4	57	52	2	7	85	56	12	0	90

	13 Moneths	14 Moneths	15 Moneths
li.	sh.	d.	c.	li.	sh.	d.	c.	li.	sh.	d.	c.
Shill.	5			3	06			3	92			4	19
10			7	02			7	85			8	37
15			10	98			11	78		1	0	56
Pounds.	1		1	2	64		1	3	70		1	4	74
2		2	5	29		2	7	40		2	9	49
3		3	7	94		3	11	10		4	2	23
4		4	10	59		5	2	80		5	6	98
5		6	1	24		6	6	50		6	11	72
6		7	3	89		7	10	20		8	4	47
7		8	6	53		9	1	90		9	9	21
8		9	9	18		10	5	61		11	1	96
9		10	11	83		11	9	31		12	6	70
Pounds.	10		12	02	48		13	1	1		13	11	44
20	1	4	4	96	1	6	2	2	1	07	10	88
30	1	16	7	44	1	19	3	3	2	01	10	32
40	2	8	9	91	2	12	4	4	2	15	9	76
50	3	1	0	39	3	05	5	5	3	09	9	21
60	3	13	2	87	3	18	6	6	4	03	8	65
70	4	5	5	45	4	11	7	7	5	07	8	09
80	4	17	7	83	5	4	8	8	5	11	7	53
90	5	9	10	31	5	17	9	9	6	05	6	98
	100	6	2	0	79	6	10	10	09	6	19	6	41
	200	12	4	1	58	13	1	8	19	13	19	0	83
	300	18	6	2	37	19	12	6	28	20	18	7	25
	400	24	8	3	15	26	3	4	37	27	18	1	67
	500	30	10	3	94	32	14	2	47	34	17	8	09
	600	36	12	4	73	39	6	0	56	41	17	2	51
	700	42	14	5	52	45	15	10	65	48	16	8	93
	800	48	16	6	31	52	6	8	75	55	16	3	35
	900	54	18	7	10	58	17	6	84	62	15	9	77
	1000	61	00	7	89	65	8	4	93	69	15	4	09

	16 Moneths	17 Moneths	18 Moneths
li.	sh.	d.	c.	li.	sh.	d.	c.	li.	sh.	d.	c.
Shill.	5			4	44			4	70			4	95
10			8	89			9	40			9	91
15		1	1	33		1	2	10		1	2	86
Pounds.	1		1	5	78		1	6	80		1	7	82
2		2	11	55		3	1	60		3	3	63
3		4	5	33		4	8	40		4	11	45
4		5	11	11		6	3	21		6	7	2••
5		7	4	89		7	10	01		8	3	0••
6		8	10	67		9	4	81		9	11	90
7		10	4	44		10	11	61		11	6	72
8		11	10	22		12	6	41		13	2	53
9		13	4	00		14	1	22		14	10	3••
Pounds.	10		14	9	78		15	8	02		16	6	1••
20	1	9	7	55	1	11	4	04	1	13	0	33
30	2	4	5	33	2	7	0	06	2	9	6	50
40	2	19	3	11	3	2	8	07	3	6	0	66
50	3	14	0	89	3	18	4	09	4	2	6	83
60	4	8	10	67	4	14	0	11	4	19	0	99
70	5	3	8	44	5	9	8	13	5	15	7	16
80	5	18	6	22	6	5	4	15	6	12	1	33
90	6	13	4	00	7	1	0	17	7	8	7	4••
	100	7	8	1	78	7	16	8	18	8	5	1	65
	200	14	16	3	55	15	13	4	37	16	10	3	30
	300	22	4	5	33	23	10	0	55	24	15	4	9••
	400	29	12	7	11	31	6	8	74	33	00	6	61
	500	37	0	8	89	39	3	4	92	41	05	8	26
	600	44	8	10	67	47	0	1	11	49	10	9	91
	700	51	17	0	44	54	16	9	29	57	15	11	56
	800	59	5	2	22	62	13	5	48	66	1	1	21
	900	67	13	4	00	70	10	1	66	74	6	2	87
	1000	74	1	5	78	78	6	9	84	82	11	4	51

	19 Moneths	20 Moneths	21 Moneths
li.	sh.	d.	c.	li.	sh.	d.	c.	li.	sh.	d.	c.
Shill.	5			5	20			5	45			05	70
10			10	41			10	91			11	40
15		1	3	62		1	4	36		1	05	10
Pounds.	1		01	08	82		01	09	82		01	10	80
2		03	05	64		03	07	64		03	09	61
3		05	02	46		05	05	46		05	08	42
4		06	11	29		07	03	27		07	07	22
5		08	08	11		09	01	19		09	06	03
6		10	04	93		10	10	91		11	04	83
7		12	01	75		12	08	73		13	03	64
8		13	10	57		14	06	55		15	02	45
9		15	07	40		16	04	37		17	01	25
Pounds.	10		17	04	22		18	02	18		19	00	05
20	1	14	08	44	1	16	04	36	1	18	00	11
30	2	12	00	66	2	14	06	54	2	17	00	16
40	3	09	04	88	3	12	08	72	3	16	00	22
50	4	06	09	10	4	10	10	91	4	15	00	27
60	5	04	01	32	5	09	01	09	5	14	00	33
70	6	01	05	54	6	07	03	27	6	13	00	38
80	6	18	09	76	7	05	05	45	7	12	00	44
90	7	16	01	98	8	03	07	64	8	11	00	49
	100	8	13	06	19	9	01	09	82	9	10	00	54
	200	17	07	00	38	18	03	07	64	19	00	01	08
	300	26	00	06	57	27	05	05	46	28	10	01	63
	400	34	14	00	77	36	07	03	27	38	00	02	17
	500	43	07	06	96	45	09	01	09	47	10	02	71
	600	52	01	01	15	54	10	10	91	57	00	03	26
	700	60	14	07	34	63	12	08	73	66	10	03	80
	800	69	08	01	53	72	14	06	55	76	00	04	34
	900	78	01	07	73	81	16	04	37	85	10	04	89
	1000	86	15	01	92	90	18	02	18	95	00	05	43

	22 Moneths	23 Moneths	24 Moneths
li.	sh.	d.	c.	li.	sh.	d.	c.	li.	sh.	d.	c.
Shill.	5			5	94			6	19			06	43
10			11	89		1	0	38		1	00	85
15		1	5	84		1	6	57		1	07	28
Pounds.	1		01	11	78		02	0	75		02	01	71
2		03	11	56		04	1	51		04	03	43
3		05	11	35		06	2	26		06	05	14
4		07	11	13		08	3	01		08	06	86
5		09	10	92		10	3	77		10	08	57
6		11	10	70		12	4	52		12	10	29
7		13	10	49		14	5	27		15	00	00
8		15	10	27		16	6	03		17	01	72
9		17	10	05		18	6	78		19	03	42
Pounds.	10		19	09	84	1	00	07	53	1	01	05	14
20	1	19	07	67	2	01	03	06	2	02	10	28
30	2	19	05	51	3	01	10	60	3	04	03	43
40	3	19	03	35	4	02	06	13	4	05	08	57
50	4	19	01	19	5	03	01	67	5	07	01	71
60	5	18	11	03	6	03	09	20	6	08	06	86
70	6	18	08	86	7	04	04	74	7	10	00	00
80	7	18	06	70	8	05	00	27	8	11	05	14
90	8	18	04	54	9	05	07	80	9	12	10	28
	100	9	18	02	38	10	06	03	34	10	14	03	43
	200	19	16	04	76	20	12	06	07	21	08	06	86
	300	29	14	07	14	30	18	10	01	32	02	10	29
	400	39	12	09	51	41	05	01	35	42	17	01	71
	500	49	10	11	89	51	11	04	68	53	11	05	14
	600	59	09	02	27	61	16	08	02	64	05	08	57
	700	69	07	04	65	72	03	11	36	75	00	00	00
	800	79	05	07	03	82	10	02	69	85	14	03	43
	900	89	03	09	41	92	16	06	03	96	8	06	86
	1000	99	01	11	78	103	2	09	36	107	2	10	28

The use of these Tables.

I.

WHat is the rebate out of 500 pound due 6 moneths hence, to be paid at pre∣sent? and so how much rea∣dy money will satisfie the said debt of 500 pound?

By the Table you shall finde that 14 pound, 11 shillings, 3 pence and half a farthing, is to be abated.

	li.	sh.	d.
So that, the debt being	500	00	00
The rebatement to be subtracted	14	11	3
So there remaines	485	08	09

And so much ready money will satisfie the said debt.

II.

If you cannot finde the whole debt in one line of the Tables, or if the debt be to be paid at two or three payments, then you must take it out of the Tables severally, and then adde them together.

As suppose A hath sold a bargain to B of 1500 pound, to be paid at three six moneths, 500 pound a time: what is the value of it in ready money?

	li.	sh.	d.	q.
The debt is	1500	00	00	0
Rebate of 500l. for 6 moneths	14	11	03	0
Rebate of 500l. for 12 mon.	28	06	00	2
Rebate of 500l. for 18 mon.	41	05	08	1
The Sum of the Rebates	84	02	11	3
Which substracted from the whole debt, there remaines	1415	17	00	1

The money which must be paid at present.

III.

There is another kinde of Rebate∣ment, by way of reducing divers times of payment all into one, which is many times used, but yet is not altogether so exact as it should be.

For example: Suppose the said debt of 1500 li. to be paid at three 6 moneths, what time will the whole debt be due to be paid altogether?

The rule is thus: First, multiply the summes of money, by the times of their payment, and adde the severall pro∣ducts together; thus,

500 pounds By 6 moneths	500 pounds by 12 moneths	500 pounds by 18 moneths
is 3000	is 6000	is 9000
		6000
Which three added together.	3000
The Sum of them all is	18000

And this product divided by the whol∣debt 1500 pound, the quotient will shey 12 moneths for the time of payment.

This rule is not much out of the way; yet somewhat it sails, as will appear by comparing it with the former. For if the said 1500 pound be to be paid all at 12 moneths, then the worth of it in rea∣dy money will appear to be but 1415 pound, 1 shilling, 10 pence, 2 farthings, whereas the true value of the debt in ready money was before found to be 1415 pound, 17 shillings, one farthing; by this means therefore the Creditour will lose 15 shillings, one peny, three farthings more then he ought to re∣bate.

Yet this way of reducing of payments comes so neer the exact truth, that I can∣not prescribe a better way in generall, to finde it out. But if any will be so punctual, and think it worth their la∣bour, let them try one by the other, and so finding the difference, which here is 15 shillings; finde out by the Tables of Interest, in how many dayes the 1500 pound will require 15 shillings Interest; and you shall finde the neerest time is 3 dayes. For the Interest of 1500 pound so three dayes is 14 shillings, 9 pence:

these three dayes therefore being taken from the 12 Moneths aforesaid, shewes the true time due for the payment of the whole 1500 pound.

IV.

If any will be so strict in their Re∣batements, as to look after any time un∣der a moneth; they may, by the former Tables of Interest, finde out the Interest of their principall debt for the odde dayes, and adde that to the Rebate∣ment for the moneths, without much errour.

But if they will be more exact, let them, by the Tables of daily Interest, finde out the Interest of 1••0 pound for the time desired, and work by the for∣mer rule, according to the rule of pro∣portion.

Thus, if you would know the rebate out of an hundred pound for 190 dayes.

The Interest for 190 dayes is 3 pound, 1200 parts. Therefore, As 103. 1200, li. to 10••; li. So 100, li. to 96, 9744. li.

Which is 96 pound, 19 shillings, 6 pence, ferè.

And thus much for these Tables of In∣terest. All that I have said hitherto hath been about Interest either simple or compound, by which you may see the good use which may be made thereof, and how the abuse may be avoided and prevented.

And here I thought to have put as end to this little Book. But since there are many other things of a generall concernment, and not impertinent to the former Discourse, I shall adde somewhat concerning a few of them, as briefly as I can.