It might be presumed, that the amount of capital which an individual would be willing to vest in the purchase of a property would be proportioned to its net returns. But it can be proved, that in 1819, 65,000_l._ sterling was offered for a sugar-estate in Jamaica, and refused, as below its estimated value. About that period it was considered, that the increasing consumption of sugar, while the means of production were limited, presented a very favourable prospect for the West India planter. Accordingly, in the year 1820, 70,000_l._ sterling was offered for the abovementioned estate, and also refused for the same reason. But when the proceedings in this country in 1823 and 1824 began to operate, a mighty change took place. It can be shown that distrust gradually arose, and as the proceedings became more and more critical, in the same proportion and as quickly did the value of property progressively decline. The demands of alarmed creditors from all quarters fell on the planters; they became embarrassed; and the very same property for which, in 1820, 70,000_l._ sterling had been refused, when again put up for sale in 1826, found no real bidding higher than 32,000_l._ currency, being less than 23,000_l._ sterling. Strong as this instance appears to be, others equally forcible could be adduced, of the ruinous deterioration of West India property from the like cause; and they exemplify the nature of those boons which the writer of the “Remarks” affirms to have been accorded to the colonists, and “for which they should feel grateful.” If a decline in the value of the capital has ensued, whilst the price of the produce has remained nearly the same, it is proof positive that the depreciation of West India property is not attributable to circumstances purely mercantile, but that it is owing to the proceedings of the British legislature. It is essential to keep this circumstance in mind, and to examine the mode of appraisement prospectively, when the principle of supply and demand no longer exists, as regards the objects to be appraised. It is apparent, that to allow of a properly-constituted market-price, there must be purchasers; but if the principle of compulsory manumission be admitted, after what has been just stated relative to the deterioration in the value of property already produced, will any purchaser of slaves be found? Under the manifold evils detailed in the preceding section, no capitalist henceforward would think of making investments upon West India securities, and all transfer of property would be at an end.