With the 2 piece mounts you have, being a short action or long action shouldnt matter so Ill save you some reading.
I have no idea what exact mounts you bought so I cant help much. Sounds like you bought Low ones though. There are different heights for mounts, I usually go with Medium myself. Low would never cut it with my scopes because the objective end is 2 large and would hit the barrel.
As long as youre sure its a model 700, get some good mounts online from reputable websites. I recommend
http://www.swfa.com/Maybe get a cheap Leupold standard 1 piece base with standard Medium 1" rings(I doubt you have a 30mm tube unless its of the tactical variety so 1" rings it is).
What caliber is the rifle? Oops, good ole .06, Long action it is.
I havent checked prices in a while but I think I paid 50.00 for the base and rings a couple years back. A tad more than what you probably got at Walmart but well worth it in the long run.
** What kind of scope? Its 7am and Im bored
If my ramblings arent making any sense, my excuse is I just worked an 11 hour shift. Off to bed I go!