They Were Bought By The Speculators At From 2s. 6d. To
3s. 9d. Per Acre, And Often For Much Less, And Were Sold Again, With
An Enormous Profit, At From 5s. To 20s., And Sometimes Even 40s. Per
Acre, According To Their Situation.
As to personally examining these lands, it was a thing never thought
of, for their price was so low that it was almost impossible to lose
by the purchase.
The supply of U.E. Loyalists' lands, or claims for
land, for a long time seemed to be almost inexhaustible; for the
loyal refugees appear to have been prolific beyond all precedent,
and most of those who held office at the capital of the province,
or who could command a small capital, became speculators and throve
prodigiously. Many persons, during the early days of the colony,
were thus enriched, without risk or labour, from the inexhaustible
"quivers" of the U.E. Loyalists.
Though the bulk of the speculators bought lands at haphazard,
certain parties who found favour at the government offices managed
to secure the best lands which were for sale or location, before
they were exposed to fair competition at the periodical public sales
in the different districts. Thus a large portion of the wild lands
in the colony were and are still held: the absentee proprietors
profiting from the increased value given to their property by the
improvements of the actual settlers, while they contribute little
or nothing to the cultivation of the country. The progress of the
colony has thus been retarded, and its best interests sacrificed,
to gratify the insatiable cupidity of a clique who boasted the
exclusive possession of all the loyalty in the country; and every
independent man who dared to raise his voice against such abuses was
branded as a Republican.
Mr. Q - - dealt largely in these "U.E. Rights," as they were called,
and so great was the emigration in 1832 that the lands he bought at
2s. 6d. per acre he could readily sell again to emigrants and
Canadians at from 5s. to 15s. per acre, according to situation and
the description of purchasers he met with. I have stated that the
speculators generally buy lands at hap-hazard. By this I mean as to
the quality of the lands. All colonists accustomed to observe the
progress of settlement, and the local advantages which hasten
improvement, acquire a peculiar sagacity in such matters.
Unfortunately for many old countrymen, they are generally entirely
destitute of this kind of knowledge, which is only acquired by long
observation and experience in colonies.
The knowledge of the causes which promote the rapid settlement of a
new country, and of those in general which lead to the improvement
of the physical condition of mankind may be compared to the
knowledge of a language. The inhabitant of a civilised and
long-settled country may speak and write his own language with the
greatest purity, but very few ever reflect on the amount of thought,
metaphor, and ingenuity which has been expended by their less
civilised ancestors in bringing that language to perfection.
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