56 



DEPRECIATION OF PROPERTY. 



If any one reflects a moment upon the probable effects 

 which would result from cutting off, only half the exports 

 of such a country as the United States or England, one has 

 less difficulty in realizing the condition of the people of 

 Jamaica, who are not exporting much more than a third 

 of what they have exported in the days of their prosperity.* 



The political economist need not be told that such a fall- 

 ing off from the income of the island, must have been 

 attended with a corresponding depreciation in the value of 

 real estate, but no one unacquainted with the fertility and 

 beauty, and former productiveness of Jamaica, can realize 

 the extent of that depreciation. I will give you a few illus- 

 trations which can be relied upon. 



The Spring Valley estate in the parish of St. Mary's, 

 embracing 1,244 acres, had been sold once for £18,000 

 sterling. In 1842, it was abandoned, and in 1845, the 

 freehold, including works, machinery, plantation utensils, 

 and a water power, was sold for £1,000. 



The Tremoles estate, of 1,450 acres, once worth £68,- 

 265 sterling, has been since sold for £8,400, and would 

 not now bring half that sum. 



The Golden Valley sugar estate, containing about 1,200 

 acres, was sold in 1846 for £620, including machinery and 

 works. 



* In 1797 they exported 3,621,260 lbs. of ginger, which is one-third more than 

 the largest quantity exported during the years I have enumerated above. In 1805 

 they exported 160,352 hhds. sugar, and in 1814 they exported 34,045,585 lbs. of 

 coffee. 



