2) ft TALl'E OF REAL PllOPfcftTY. 



ally fallen much short of this amount. The result 

 of the new spice and other plantations, if successful, 

 may easily double this, and there is every reason to 

 anticipate that it will do so. 



hi Province Welleslcy, spice cultivation is yet in its 

 infancy, although that seems rather a vigorous one. 

 But as grain, sugar, and other products are there culti- 

 vated on a wider range of fertile land than on the Is- 

 land, and the prices of landed property are in some 

 dt <xreo reducahle to a scale, I can proceed with more 

 confidence to estimate the value hoth of land and 

 produce. 



With reference to the average rates of sales of faud, 

 fo the extent of cultivated land ascertained by actual 

 survey, and that not yet surveyed hut estimated only, 

 it will be perhaps within the mark, if the whole of 

 . these lands, with all the real property attached to 

 them, be rated at about 300,000 drs. 



The gross produce annual value, the staples being 

 rice, sugar, [which alone is reckoned at 60 : 000 dre.J 

 plantains, and cocoanuts, will not now perhaps be 

 over-estimated at an equal sum. 



The total rental will, at one-third of the gross pro- 

 duce value, admit of little more than three years' pur- 

 chase; a very startling conclusion, but ode which, in 

 new countries, rs frequently arrived at and certainly 

 is at first encouraging to intending settlers. 



The actual rent received in money or in kind by 

 proprietors of com land alone, is estimated at not less 

 than eighty thousand Spanish dollars per annum. 



The annual surplus disposable a</ricttftitrat pro- 

 duce of the Province, sugar included, is probably not 

 less than 80.000 dollars and may be considerably 

 more. The land on Pcnang at the disposal of the 

 Government consist principally of hills and narrow 

 vallies. 



