348 
08. We feel some hesitation in expressing a positive opinion 
regarding ne future of such an industry as any of the production 
of sugar, which is liable to be affected b many unforeseen 
influence X economic and others, but on a full UBER of the 
circumstances of the sugar industry in the West Indies we are 
driven to the conclusion that there is no ponen of the present 
area of cultivation being med, Where the conditions for 
the production of sugar are favourable, and ei latest processes 
have been adopted, and tlie as nde: introduced, we believe 
that some West Indian sugar estates may, even at present prices, 
continue to show a su rom of receipts over workin ng expenses, 
but that surplus will not, in our opinion, be sufficient in all cases, 
after providing for detcetoration. and for the results of exception- 
ally , Ws vourable seasons, to yield the ordinary market rate of 
n the capital involved in the estates. Under present con- 
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er? 
already begun, a na i in dek cases, a failure to renew the mac inery 
as it wears out on 'estates ipe a now well equipped, followed in 
time by a similar abandonme 
109. There is every reason a believe that a very serious con- 
dition of things is rapidly appro aching in Your Ma ajesty’ s West 
Indian possessions, and that the crisis will be reached in a very 
hav 
ny 
tes, where such decision is taken, work is not likely to cease 
altogether until the growing crop and the ensuing ratoon crop, o 
afte ecd wth of the canes, have been manufactured. Wher 
however, the owners of estates depend on loans for the Mee 
on of pe riim the collapse of the credit of the industry may 
result, in some instances, in the sudden cessation of all employ- 
ment upon such estates. 
10. It is also material to add that the exceptionally favour- 
€: season, which some of the Colonies have re cently experienced, 
to 
may be that no industry, or series of indu ustries, can 
be introduced into the West Indies which will ever complete 
beginning of substituting other industries for the cultivation of 
the sugar-ca 
SYSTEM OF PEASANT PROPRIETORS 
112, If the sugar estates are thrown out of cultivation, it is 
extremely improbable, and, in fact, it may be stated to be im- 
possible, that any industry to be condueted on large aioi can 
ever completely take its place, we have therefore no choice 
but to consider how means can be found to enable the mass 
of the population to support ieme in other ways than as 
