LANDS. 



153 



sequence of entering into such a concern. The 

 instances of persons having purchased sugar- 

 plantations without any advance of money are 

 however by no means rare, and even the slaves, 

 or at least the major part of them, have some- 

 times been obtained on long credit at exorbitant 

 prices. This plan was of more frequent occur- 

 rence at the time that the exclusive trading com- 

 pany existed at Pernambuco ; its directors found 

 that it was for the interest of those concerned 

 to advance every thing which the agriculturist 

 required, receiving in payment a certain portion 

 of his produce yearly. Although the company 

 has for many years been abolished, its accounts 

 have not yet been wound up, and it is astonish- 

 ing to learn how considerable a number of plan- 

 tations are yet indebted to it. The reputed 

 owners of many of those which are so circum- 

 stanced have oftentimes given to their predeces- 

 sors only half the purchase-money ; paying in- 

 terest to the accountant of the company for the 

 other half. If they can raise a sufficient sum of 

 money for the purpose, they may strike off the 

 principal of the debt, but if this is not practi- 

 cable, they remain in perfect confidence that 

 they will never be molested for it, provided the 

 interest is paid. 



There are a few morgados or entailed estates in 

 Pernambuco, and I believe in Paraiba likewise ; 

 and I have heard that in Bahia there are a great 



