Overseas Investment

Press, Volume CVI, Issue 31093, 23 June 1966, Page 12

Overseas Investment

Sir, —Could it be explained to me what is entailed in the purchase of land in the Taupo area by American interests? Who or what are these American interests, and just how far-reaching are their interests? As a case in point, is there any reason why the American Government should not be able to make free use of the. land, now that it belongs outright to American citizens? Can this part of the country be termed part of New Zealand when it is certain that none of it will be owned by New Zealanders for a long time to come, 'if ever again?— Yours, etc., ELLEN E. HUNT. June 22, 1966. Sir, —Hurrah for the Americans’. I think it an excellent idea selling our land to America, especially land we do not seem to have the ability, the funds, or the government initiative to. develop. If they gradually gained control of our agricultural system we would not have to spend all that money looking for overseas markets. There would also be no need to worry about the apparent complacency and lack of drive of our present New Zeaand land-owners and their representatives. What would be better than working as part of a large impersonal machine for absentee owners? Let them have all the worry and expenses. “Not another Yankee State” and his or her colleagues should think again.—Yours, etc., PROGRESS. June 21, 1966.