Read it through once

The West Indies were then very flourishing, but even before this the fatal word _beet-sugar_ had already been heard. It was nothing at first but an interesting experiment by Professor Marcgraf in a German laboratory, who had extracted a little cane-sugar from beetroot in 1747. But in 1801 the beet was already in cultivation. Napoleon saw England's monopoly of the cane and judiciously encouraged the beet. The result of his far-seeing policy only became manifest a few years ago, for then the West Indian Islands, which we conquered and guarded against Napoleon at such fearful expense of blood and treasure, were almost worthless; Continental beet-sugar had ruined our colonial planters and our home refineries. It is in fact a most curious and interesting example of how a little judicious encouragement by a wise and far-seeing Government may destroy the profits of victory in a long, glorious, but yet ruinous war.