So we have a future librarian, who wants to torch a RARE title!
(ahem)
Even librarians weed collections . . .
and this seems like a weeding situation if there ever was one, especially as it's probably contrary to the 1795 collection development plan
(okay, I'll stop now with the librarian in jokes)
If I were in the shoes of Vicki "This isn't real" Winters and Peter "Send in your boxtops to become a lawyer" Bradford, the only intelligent thing to do would be to destroy the book.
From an archival POV, there's no causal problem with destroying the book--there's no indication of who wrote it, but presumably the author must have either had it published professionally or paid a vanity press because there is publication data in the item, i.e. a date. Destroying the book in 1795 doesn't mean the author never wrote it, just that the Collins family in the present would lose their copy. And presumably they could get a replacement copy for their collection.
Luciaphil