To solve by substitution, one of the equations should be solved for one of the variables. The easiest equation to modify is the second equation.
y - 4x = 7 given second equation
y = 4x + 7 solved for y
3y - 8x = 1 given first equation
3(4x + 7) - 8x = 1
12x + 21 - 8x = 1
4x + 21 = 1
4x = -20
x = -5
y = 4x + 7
y = 4(-5) + 7
y = -20 + 7
y = -13