, 1876-01-01

Z dClOFl6SI as Ll6E6 was duu Is ~ AOouS C0Sn'
As regards the absentee proprietors, he had
previously limited 10 them because their proper
ties represented such an amount that through
them alone S25O,000 might have been won for
the Credit Association. Bat if they were not
willing to enter as shareholders in the Central
Factory through a Credit Association, 1T IL still
left to them to enter as Cash Subscribers. Inc
question is then, can we entertain hopes that
thew will Join in one way or the other Ii they
will not, it might be concluded that there IS a
lack of sympathy in the undertaking, and TINS
can not otherwise than Influence the Home
Government and the Diet as we'll as those whom
we need to support the matter. la one OF the
previous Meetings he had had here on the mat
ter, he had stated that the Credit Association
would be a means whereby absentee owners
might protect themselves against bad treatment
of their estates, and he had heard OF Instances
where absentees were not aware OF the bad p0'
sition of their properties before they were near
" lost. His attention was subsequently drawn
to the possibility of individual parties present
at the time, supposing that he had intended to
imply that the attorneys in charge OF Estates
now need control from the absent proprietors
he could reverse the remarks, and would say
he regretted that the attorneys here have under
stood to administrate the properties without
drawing on the owners. To speak Candidly
he had lOnged for the moment when the attor-
neys should have to draw on those absentees
for money to carry Oh the Estates for then
they would soon join our Credit Association
and Central Factory. He drew the conclusion
from experience gaiuedi in other Islands. Some
time ago he had a conversation with a gen
tleman we'll vvrsed in the affairs Of the West
india Islands, and he spoke OF proprlet0rs who
had left their properties for many years ago
when they received good returns they con-
tinued to do 50 after their removal, but of
late wears they have been entirely without
revenues and have even been called on to send
means to carry on :he properties, which has
forced them to return to the Islands, unable to
understand how properties that all along
have paid, are now obliged to call for money.
He, the Governor, mentioned this ia order to
shew that even in places where the manufac-
ture is in a higher and better position than
here, Estates do not pay. He feared that it
will not last long before we must arrive at
the same experience, and he could fully agree
with the honorable Speaker that if many
Estates are turned out of cultivation because
thew do not pay, it cannot last long before
the same fate must meet the few others which
are at present remunerative or paying. 1t
would be impossible to maintain a few Estates,
when the majority cannot be kept in cultivation.
The wants of d population will always in
crease; the duties of the administration will
also increase we must accordingly he prepared
to meet the increased claims that will be put to
the Colonial Treasury, and if they cannot be met,
it will be impossible for US to exist as a civiliz-
ed community. He thus thought to be justi-
fed in saying that we cannot expect to be
supported by The Home Government in any
of the ways hitherto done, unless the realization
of a plan that will effect a lasting and general
benefit to the Island, is secured. He wanted
to Law stress on this fact, that the difficulty
arises from the want of real active sympathy
on the part of a number of planters who are
in an independent position. This he must
leave to the consideration of all parties he
dwelt so strongly on this point because he
was assured that the support would not be
oiven unless the Island sheWs that it is willing
to do what it can.-He would now proceed to
give some details with regarG to the Credit
Association. He had proposed this institution
in order to enable estate owners to obtain
the improvements and advantages connected
with a Central Factory without any cash out
Law. In illustration of this he would mention
as an Instance suppose a property worth
S4O,00O; according to the statutes of the
Association, such a property could be admitted
in the Association for an amount OF $4,000 i;
on that sum the proprietor would have to pay
s per OF. pa, 500 interest aud the rest as
instaIment; these s per CT. amount to $1,000 P. a.
The $4,000 will be received in bonds sup
posing they only fetch a quotation of 80 per.