The language in Newton’s (translated) work is antiquated by modern standards. Saying that the force is “reciprocally as the square of the distance” means, in more modern language, that the force is inversely proportional to the square of the distance. In equation form,
$$ F = \frac{c}{r^2} $$
where $c$ is a quantity which does not depend on distance.
(Prop. VII, Book III) That there is a power of gravity tending to all bodies, proportional to
the several quantities of matter which they contain.
That all the planets mutually gravitate one towards another, we have proved before ; as well as that the force of gravity towards every one of them, considered apart, is reciprocally as the square of the distance of places from the centre of the planet. And thence (by Prop. LXIX, Book I, and its Corollaries) it follows, that the gravity tending towards all the planets is proportional to the matter which they contain.
Moreover, since all the parts of any planet A gravitate towards any other planet B ; and the gravity of every part is to the gravity of the whole as the matter of the part to the matter of the whole ; and (by Law III) to every action corresponds an equal re-action ; therefore the planet B will, on the other hand, gravitate towards all the parts of the planet A ; and its gravity towards any one part will be to the gravity towards the whole as the matter of the part to the matter of the whole. Q.E.D.
COR, 1. Therefore the force of gravity towards any whole planet arises from, and is compounded of, the forces of gravity towards all its parts. Magnetic and electric attractions afford us examples of this ; for all at traction towards the whole arises from the attractions towards the several parts. The thing may be easily understood in gravity, if we consider a greater planet, as formed of a number of lesser planets, meeting together in one globe ; for hence it would appear that the force of the whole must arise from the forces of the component parts. If it is objected, that, ac cording to this law, all bodies with us must mutually gravitate one to wards another, whereas no such gravitation any where appears, I answer, that since the gravitation towards these bodies is to the gravitation towards the whole earth as these bodies are to the whole earth, the gravitation to wards them must be far less than to fall under the observation of our senses.
COR. 2. The force of gravity towards the several equal particles of any body is reciprocally as the square of the distance of places from the parti cles ; as appears from Cor. 3, Prop. LXXIV, Book I.
This lengthy passage says that the gravitational force toward an object $O$ is proportional to the mass of $O$ (“proportional to the matter which [it] contain[s]”). Furthermore, because of the action-reaction law, the force must also be proportional to the mass of the object being attracted to $O$.
As a result, the force of attraction between objects $A$ and $B$ is proportional to $m_A$ and $m_B$ and inversely proportional to $r^2$, which can be expressed in equation form as
$$F = G \frac{m_A m_B}{r^2}$$
where $G$ is some universal constant.
The fact that Newton wrote in such a lengthy and opaque way is a product of his time. The mathematical formalism and terminology which enables us to express Newton’s law of gravitation in a few lines is an apparatus which has been developed in the intervening years.