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a generous act in the Parliament to vote it. I only remind gentlemen, that although twenty millions sound as a large sum, when you come to buy up the property of whole communities, or the labour required to make it available, you must necessarily deal in large sums. I find, for example, the agricultural produce of Ireland valued at 36,000,000l. annually, which, at twenty-five years' purchase, would give, for the gross value of land and labour, (and both are included in the case before us,) 900,000,000l. The agricultural produce of England I find valued at 156,000,000l. annually; which, at thirty years' purchase, would similarly give 4,680,000,000l. The fair and real test is not the absolute but the relative magnitude of the sum, as compared with the consideration received for it.
Now, the noble lord, the member for North Lancashire, in his speech of May, 1833, valued the labour of the slaves at 30,000,000l. It was, however, valued by appraisement, under the assistant commissioners of compensation in 1834, at 51,000,000l.; and a most authentic record, namely, the averages of actual sales as ascertained by the commissioners, taken during a period of depression, namely, that from 1822 to 1830, gave a value of 45,000,000l. Over and above this was involved the whole amount of the lands, works, and buildings, which were dependent on the supply of labour. For this, then, it was that you gave twenty millions, paid six years in advance, with an apprenticeship to 1840.
