who in the year 1808, was induced, from
the considerable increase that had taken place in the public
herds, to issue cows at L28 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 L700 to
L1,000 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
L50 to L100 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 su