The price of all manner of stock is almost incredibly moderate, considering the short period which has elapsed since the foundation of the colony. A very good horse for the cart or plough may be had from £10 to £15, and a better saddle or gig horse, from £20 to £30, than could be obtained in this country for double the money. Very good milch-cows may be bought from £5 to £10; working oxen for about the same price; and fine young breeding ewes from £1 to £3, according to the quality of their fleece. Low as these prices may appear they are in a great measure fictitious; since there is confessedly more stock of all sorts in the colony, than is necessary for its population. It accordingly frequently happens, particularly at sales by public auction, that stock are to be bought for one-half, and even one-third of the above prices; and there is every probability that before the expiration of ten years, their value will be still more considerably diminished. To be convinced of the truth of this conjecture, we have only to look back a little into the annals of the colony, and see how prodigiously cattle of every description have multiplied. By a census taken at the end of the year 1800, (twelve years after the institution of the colony) the number of horses and mares was only 163; of horned cattle, 1024; and of sheep, 6124. At the end of 1813, the horses and mares had increased to 1891; the horned cattle to 21,513, and the sheep to 65,121: and in the month of November, 1817, the last year of which we have received the census, the numbers were as follow: horses and mares, 3072; horned cattle, 44,753; sheep, 170,420. Thus it will be perceived, that in the space of seventeen years, the stock of horses and mares has increased from 163, their highest number for the first twelve years, to 3072; the stock of horned cattle, from 1044 to 44,753; and the stock of sheep from 6124 to 170,920. This is of itself an increase great beyond all ordinary computation; and it would appear still more surprising if we could add to it the immense numbers of cattle and sheep that have been slaughtered in the same period, for the supply of the king's stores, and for general consumption.
From the foregoing statement is will be evident, that the future increase in the stock will be still more prodigious, and still more considerably outstrip the advance of population. The price therefore of cattle, great and rapid as has been its past declension, must annually experience a still further diminution. Of what will be their probable value in ten years more, it may enable us to form no very inaccurate estimate, by referring to what it was ten years back. In 1808, a cow and calf were sold by public auction for £105, and the price of middling cattle was from £80 to £100. A breeding mare was at the same period worth from 150 to 200 guineas, and ewes from £10 to £20.
These immense prices, however, were the result of monopoly, and consequently in a great measure fictitious; for in 1810, two years after this, a herd of fine cattle were sold for £13 per head. This almost incredible reduction in the value of cattle in so short a period, was occasioned by the supercession of this monopoly by the governor, who in the year 1808, was induced, from the considerable increase that had taken place in the public herds, to issue cows at £28 per head, payable in agricultural produce, to all indiscriminately who chose to purchase them. Hundreds of them, therefore, at this epoch, were distributed among the settlers, and their extreme value insured that degree of care and attention from their owners, which was naturally followed by a rapid increase, and produced in the short lapse of two years, that declension of price which would at first sight appear so astonishing.
Thus it may be perceived, that within the last ten years, stock of all sorts have decreased in price, from £700 to £1,000 per cent. and it is not unreasonable to conclude, that in ten years hence, they will have experienced at least a similar reduction. Should this conjecture be verified, they will be of as little value in the remote parts of the colony, as the horses and cattle on the plains of Buenos Ayres, where any person may make what use he pleases of the carcase, provided he leaves behind him the hide.
PRICE OF LABOUR.
The price of labour is at present very low, and is still further declining in consequence of the demand for it not equalling the supply. Upon the establishment of the Colonial Bank, and the consequent suppression of that vile medium of circulation, termed the colonial currency, between which and British sterling there used to be a difference of value of from £50 to £100 per cent. the price of labour was fixed at the rates contained in the following general order, dated the 7th of December, 1816:
"In consequence of the recent abolition of all colonial currency, and the introduction and establishment of a sterling circulation and consideration in all payments, dealings, transactions, contracts, and agreements, within this territory and its dependencies, his Excellency the Governor having deemed it expedient to take into consideration the general rates and prices of labour and wages within the same, as affected by the alteration of the mode of payments at a sterling rate, or value, and of the degree, measure, and sterling amount of the same, upon a fair and equitable proportion and modus; and having also adopted such measures in that respect as seemed best calculated to fix and make known the same, is pleased hereby to declare, order, and direct, that in addition to the rations according to and equal with the government allowance, the sum of ten pounds sterling per annum to a man convict, and seven pounds sterling to a woman convict, as including the value of the slops allowed, and the sum of seven pounds or five pounds ten shillings exclusive of such slops; computed at three pounds per man, and one pound ten shillings per woman, shall be allowed, claimed, or demandable, or such part or proportion of such sum or sums as shall be equal and according to the period and continuance of actual service, and no more in respect of yearly wages, and in the same manner as yearly wages for the extra work and service of any such male or female convict respectively, duly assigned to any person or persons, by or upon the authority of Government.
"His Excellency is also pleased further to declare, order and direct, that in consideration of the premises, the undermentioned sums, amounts, and charges, and no more with regard to and upon the various denominations of work, labour and services, described and set forth, shall be allowed, claimed, or demandable within this territory and its dependencies in respect thereof".
£ s. d.
For falling forest timber, per acre, 0 8 0
Burning off ditto, per ditto, 1 0 0
Rooting out, and burning stumps on forest ground, per ditto, 1 10 0
Falling timber on brush ground, per ditto, 0 12 0
Burning off ditto, per ditto, 1 10 0
Rooting out and burning stumps on ditto, per ditto, 1 17 6
Breaking up new ground, per ditto, 1 0 0
Breaking up stubble in corn ground, per ditto, 0 10 0
Chipping in wheat, per ditto, 0 6 0
Reaping ditto, per ditto, 0 10 0
Threshing and cleaning wheat, per bushel, 0 0 8
Holeing and planting corn, per acre, 0 5 0
Chipping and shelling corn, per ditto, 0 6 8
Pulling and husking ditto, per bushel, 0 0 4
Splitting pales, (six feet long) per hundred, 0 3 0
Ditto, (five feet long) per ditto, 0 2 6
Shingle splitting, per thousand, 0 7 6
Preparing and putting up morticed railing, five bars, with
two pannels to a rod, and posts sunk two feet in the ground,0 3 0
Ditto, ditto, ditto, four bars, 0 2 6
Ditto, ditto, ditto, three bars, 0 2 0
Ditto, ditto, ditto, two bars, 0 1 9
The rates limited in this order are pretty well proportioned to the present state of the colony; but the attempt to reduce the value of labour to a permanent standard, further than regards the convicts, must evidently be abortive; since labour, like merchandize, will rise and fall with the demand which may exist for it in the market where it is disposable;--and although the above order might prevent the labourer from recovering in the colonial courts, a greater price for his labour than is stipulated in the foregoing schedule, still the moment it becomes the interest of the employer to give higher wages, he will do so, and the discredit attached to the non-performance of a deliberate contract will always prevent him from having recourse to the courts for avoiding the fulfilment of it. The above rates, it will be seen, only refer to the various species of labour immediately attached to agriculture. The wages of artificers, particularly of such as are most useful in infant societies, are considerably higher: a circumstance which is principally to be attributed to the practice of selecting from among the convicts all the best mechanics for the government works. Carpenters, stone-masons, brick-layers, wheel and plough-wrights, black-smiths, coopers, harness-makers, sawyers, shoe-makers, cabinet-makers; and in fact all the most useful descriptions of handicrafts, are consequently in very great demand, and can easily earn from eight to ten shillings per day.