INTRODUCTION. 



5 



mined on by Government, the Planters might have 

 been able to adopt a system calculated gradually to 

 counteract the ruinous effects of the policy alluded 

 to; but the suddenness as well as the magnitude of 

 the changes which have taken place, have been such as 

 to paralyse their efforts; and the depreciation in the value 

 of property within the last three years,* has deterred 

 capitalists from venturing to make advances for the im- 

 provements required, in consequence of the uncertain 

 nature of the security. 



It is universally admitted, that the measure of slave 

 emancipation was precipitated in a manner inconsistent 

 with prudent legislation, although a matter which involved 

 interests and issues of such unprecedented and unparalleled 

 importance, that the greatest statesman of the period 

 expressed feelings of embarrassment and anxiety in 

 approaching a question of such magnitude; still, there 

 is little doubt, that had its operation not been followed - 

 by the more recent injurious fiscal enactments, the 

 present unfortunate results would not have been brought 

 about. 



* The value of property in some of these Colonies is reduced to such 

 a ruinous degree, as in many instances to amount to nearly a. total loss ; 

 and few purchasers can be found for such estates as are put up for sale, 

 even at a most inadequate price. We have an instance of this in the 

 case of some valuable contiguous estates in Demerara, being offered for 

 sale for £14,000, the value of which, a few years ago, exceeded 

 £100,000 ; and similar cases could be adduced which have occurred in 

 the other Colonies. 



