t they alone should lose by the destruction
of this species of property, the legality of which had at least been
recognised by parliament, ministers proposed to advance to the West
Indian body a loan to the amount of ten years' purchase of their annual
profits on sugars, rum, and coffee, which would amount to L15,000,000.
It was for parliament to say in what manner, and upon what condition,
that loan should be repaid to the country; it might be considered equal
to one-fourth of the proceeds of the slaves' labour; and with that sum
and the other three-fourths of his labour, the planter, at the end of
twelve years, would have received a just compensation for the price of
his slave, and for all the expense to which the slave might have put him
for food and clothing. It was right, however, to state that during that
time the planter would have to pay interest for his loan, and to that
amount, perhaps, he might be the loser. In conclusion, Mr. Stanley said,
he would call upon the house to aid the local legislatures in the West
Indies in establishing schools for the religious and moral education of
the slave population. He moved the following resolutions:--"That it is
the opinion of this committee that immediate and effectual measures be
taken for the entire abolition of slavery throughout the colonies,
under such provisions for regulating the condition of the negroes as may
combine their welfare with the interest of the proprietors: That it is
expedient that all children born after the passing of any act, or who
shall be under the age of six years at the time of passing any act of
parliament for this purpose, be declared free, subject, nevertheless, to
such temporary restrictions as may be deemed necessary for their
support and maintenance: That all persons now slaves be entitled to
be registered as apprenticed labourers, and to acquire thereby all
the rights and privileges of free men subject to the restriction of
labouring under conditions, and for a time to be fixed by parliament,
for their present owners: That, to provide against the risk of loss
which proprietors in his majesty's colonial possessions might sustain
by the abolition of slavery, his majesty be enabled to advance by way of
loan, to be raised from time to time, a sum not exceeding in the whole
L15,000,000, to be paid in such manner, and at such rate of interest, as
shall be prescribed by parliament: That his majesty be enabled to
defray any such expense as he m