INTRODUCTION. 







the Colonies would have continued to be prosperous, and 

 that such gradual improvements would have taken place in 

 their resources, and such an increase in the amount of their 

 productions, as would have enabled them to supply sugar 

 in sufficient quantities for any amount of consumption in 

 this country, and that they would eventually have been 

 able to compete with slave-holding states in such a manner 

 as to ensure the extinction of slavery. 



It is impossible to deny, that the effect of competition is 

 to cheapen production, and to stimulate those engaged in 

 it, to the utmost energy, in developing and economizing 

 their resources, and in effecting and adopting such 

 improvements as necessity suggests. But if one party pos- 

 sesses advantages which are placed beyond the reach of the 

 other, it is useless to commence a struggle, the evil result 

 of which may be foreseen. But this view of the case seems 

 to have been disregarded by those who legislated for the 

 Colonies, while effecting the changes in question. They 

 have evidently been influenced by the idea, that compe- 

 tition with foreigners would excite industry, and increase 

 production, and they appear entirely to have overlooked 

 the fact, that the competition is unequal, and can only, 

 therefore, be productive of benefit to those possessing the 

 greatest advantages; while its effect is to paralyse the 

 industry of the less favoured party, and, as has been 

 rendered apparent, by destroying their credit, to reduce 

 them to a state of ruinous inaction, and prevent them from 

 adopting many of the improved modes of manufacture, of 



