of the funded Property of the Corporation would have been, however, about equal, even in the state of the Funds at that time, to the discharge of the several demands which the Churches, to which Lots had been appropriated, had then upon it; each Clergyman would have received an Interest of at least ten pounds a year for every two hundred pounds to which his Church had become intitled; and the apprehension of a large portion of the Land of the Kingdom falling into Mortmain, which though ill-founded is very general, would have been done away. I was not so fortunate as to obtain any relief for the Petitioners; nor do I now say that the Governors judged wrong in not attending to my wishes; however that point may be thought of, the matter of complaint was discussed with great candour and attention, and I will now explain to you, in few words, the Grounds on which the Governors proceeded in not altering their mode of augmenting small Livings. On examining the Accounts, it appeared,

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appeared, that of all the Money which had come into the hands of the Governors, either from the First Fruits and Tenths, or from private Benefaction, since the first Establishment of the Corporation in 1714, about three fourths of it had been actually laid out in Land; and as Land, where it can be procured on good terms, is certainly preferable to a payment in Money, it was thought adviseable that the remaining fourth should be laid out in the same way; and that the small interest of 21. per cent. should be continued, in order to excite the assiduity of the Persons concerned in the receipt of it to look out for proper Purchases. The Governors, no doubt, instead of two, make four or five per cent. of all the Money which has been allotted to the several Churches in the Kingdom, and which, for want of being laid out in Land, remains in their hands till called for this circumstance gives rise to a considerable annual saving, but the manner in which this saving is disposed of, is

highly just and proper; it is not permitted to accumulate sine limite, but laid out, a considerable portion of it at least is laid out, every year in augmenting many more Livings by Lot, than could be augmented by the First Fruits and Tenths alone. The annual amount of the First Fruits and Tenths would not be sufficient to augment, with 200l. a piece, above fifty or sixty Livings, but the redundance of the Interest I have mentioned, enables the Governors annually to augment above twice that number. Hence, though some Individuals, to whom Lots have fallen, may think themselves hardly dealt with, in not receiving the full Interest of their Lots (though it may be remarked that in the original Constitution of the Society no Interest at all was allowed) yet other Individuals are benefited exactly in the same proportion in which they appear to be injured; and the Church, in general, is a gainer, inasmuch as men are spurred to procure purchases in Land which otherwise would, probably,

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probably, seldom be attempted. All the Livings in the Kingdom under 201. a year, have received one or more augmentations by Lot, and, at a meeting of the Governors on the second of last month, it was agreed, that Livings under 307. should begin to be augmented by Lot. With respect to the Diocese of Landaff, the Governors have appropriated for the Augmentation of Poor Livings in it, since the first Establishment of the Bounty to the present Time, the sum of 37,850.; to this sum may be added 1,600 l. intended for the Augmentation of 8 Livings drawn by Lot on the 7th of April last, and which, if confirmed, will make the whole sum amount to 39,450 l. Of this sum 21,750l. has been laid out in the purchase of Land, and several other Purchases, which the Governors have lately approved of for Livings in this Diocese, will speedily be completed.

Another circumstance which I think proper to mention to you, respects a Publication which I undertook, with a view

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a view of being of service to the younger Clergy in general, and especially to the younger Clergy in this Diocese. The Course of my Studies, and the Nature of my Office in the University of Cumbridge, brought me acquainted with a great variety of Theological Books: I was sensible that many young Students in Divinity were often at a loss what Books to read; and many others were often deterred, by the narrowness of their Fortunes, from procuring such as might be proper for them: to obviate both these difficulties, I made a selection of some of the best tracts which I knew of, and published them in six octavo volumes, at as easy a price as could possibly be afforded. In the beginning of this undertaking, I could not get any Bookseller in London to run the risk of the Publication; but being persuaded of its utility, I determined to persevere in it at my own hazard. When the Work was finished from the Press, a Bookseller ventured to purchase the whole Impression of 1500 Copies;

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