[Eight Years’ Wandering in Ceylon by Samuel White Baker]@TWC D-Link book
Eight Years’ Wandering in Ceylon

CHAPTER V
4/28

This very fact of good communication would expedite the sales of crown lands, which are now valueless from their isolated position.
Coffee-planting in Ceylon has passed through the various stages inseparable from every "mania." In the early days of our possession, the Kandian district was little known, and sanguine imaginations painted the hidden prospect in their ideal colors, expecting that a trace once opened to the interior would be the road to fortune.
How these golden expectations have been disappointed the broken fortunes of many enterprising planters can explain.
The protective duty being withdrawn, a competition with foreign coffee at once reduced the splendid prices of olden times to a more moderate standard, and took forty per cent.

out of the pockets of the planters.
Coffee, which in those days brought from one hundred shillings to one hundred and forty shillings per hundred-weight, is now reduced to from sixty shillings to eighty shillings.
This sudden reduction created an equally sudden panic among the planters, many of whom were men of straw, who had rushed to Ceylon at the first cry of coffee "fortunes," and who had embarked on an extensive scale with borrowed capital.

These were the first to smash.
In those days the expenses of bringing land into cultivation were more than double the present rate, and, the cultivation of coffee not being so well understood, the produce per acre was comparatively small.

This combination of untoward circumstances was sufficient cause for the alarm which ensued, and estates were thrust into the market and knocked down for whatever could be realized.

Mercantile houses were dragged down into the general ruin, and a dark cloud settled over the Cinnamon isle.
As the after effects of a "hurricane" are a more healthy atmosphere and an increased vigor in all vegetation, so are the usual sequels to a panic in the commercial world.


<<Back  Index  Next>>

D-Link book Top

TWC mobile books