The manuscript appears to be a student's crib-sheet on watercolor painting technique, according (perhaps) to his or her teacher's method. The teacher is probably J.W. Taylor, of Ryde, active 1834-1837. The creator of the manuscript is unidentified.
Full transcription: "Mr Taylors Method of colouring. Ryde, Sept 1838. After making the sketch, the paper is to be wetted all over. Then put in cobalt. Taking more care of the shape of the white left than of the color put in. A little Madder mixt towards horizon. Ground tinted with Vandyke brown foreground, Middle yellow ochre. [Table:] Colors: Blue, Red, Yellow. Distance: Cobalt, Madder, Ochre. Foreground: Indigo, Lake, Sienna gamboge. Middle: Cobalt, Madder, Sienna. Middle trees tinted: Indigo, bt Sienna. Near ditto: gamboge, Indigo, bt Sienna. Touching of ground: gamboge, indigo, bt Sienna. Clouds touched: cobalt, Madder, ochre. All blue of distance + Middle: cobalt. Foreground-Earth: Indigo, Lake, bt Sienna. Herbage of d[itt]o: gamboge, bt Sienna, Indigo. Water d[itt]o: in shade, Indigo, Vandyke brown."