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.
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of 181664
