their lands at reasonable prices.

In 1832, when we came to Canada, a great speculation was carried on
in the lands of the U.E. (or United Empire) Loyalists. The sons and
daughters of these loyalists, who had fled to Canada from the United
States at the time of the revolutionary war, were entitled to free
grants of lots of wild land. Besides these, few free grants of land
were made by the British Government, except those made to half-pay
officers of the army and navy, and of course there was a rapid rise
in their value.

Almost all the persons entitled to such grants had settled in the
eastern part of the Upper Province, and as the large emigration
which had commenced to Canada had chiefly flowed into the more
western part of the colony, they were, in general, ignorant of the
increased value of their lands, and were ready to sell them for a
mere trifle. They were bought by the speculators at from 2s. 6d. to
3s. 9d. per acre, and often for much less, and were sold again, with
an enormous profit, at from 5s. to 20s., and sometimes even 40s. per
acre, according to their situation.

As to personally examining these lands, it was a thing never thought
of, for their price was so low that it was almost impossible to lose
by the purchase. The supply of U.E. Loyalists' lands, or claims for
land, for a long time seemed to be almost inexhaustible; for the
loyal refugees appear to have been prolific beyond all precedent,
and most of those who held office at the capital of the province,
or who could command a small capital, became speculators and throve
prodigiously. Many persons, during the early days of the colony,
were thus enriched, without risk or labour, from the inexhaustible