LAND VALUES.

Dominion, Volume 2, Issue 508, 15 May 1909, Page 13

LAND VALUES.

Sir,—My friend Mr. Reese, you should not use such words as "obfuscated" that took me to the dictionary to find its meaning: "muddled," "fuddled," "thick headed"; nor the allusion to being an "infidel," rather an obscure term, as you did in your letter to The Dominion of yesterday. It is unbecoming on tho part of a gentleman, ©specially in discussing a grave question like the "true value of land." Don't do it again. We havo known each other for over 25 years, and I trust "both honourable men." As a member of tho Land Purchaso Board, I feel disposed to give Mr. Reese more credit than he'gives himself, for I cannot believe that the selling price alone actuatos his recomm'endations, or, if ho does, God'help the poor settler who follows him. Let us see upon what lie bases an objection to the producing value being the true one. He says 40 years ago wool was 2s. 6d. and oats 7s. 6d., and land was not more than 30.per cent, of present value, and he might have added-that some few years ago potatoes were selling at 6d. per lb. in Sydney, while the great continent of Australia was lying •uncultivated around. Therefore at that time there was ' no connection between value of land and • its produce. It may have been ithat wool was .temporarily scarce to meet a sudden demand, and that there had been a sudden failure, in tho oat crop. ' Both of these would soon adjust themselves to tho ' price of labour and capital and the land available, as any tyro in tho scienoe of political economy well knows. Ho, further says, "Why ■ Bhould a valuer bother himself with such' 'hypothetic matter' as 'will it by good management in its present condition pay expenses and current interest?' . Valuers are generally men of brains." Further, "good management, like good government, is beyond the power of men to apprehend." Every valuer will tell him that good management of land is'within the power of ordinary intelligence to see, but good gov-ernment-in the hands of some poEticians may bo beyond. . . ; _ "Add -to the population and land, values increase, so every succeeding year will provide its quota of unearned increment." It is granted that, in a new country especially, increase of population increases the demand, still the. value depends on what the produce of tho land will bring, otherwise the settler will live .on his losses.—l am, etc., ROBT. GARDNER, ' , ■ Land Valuer. , Palmerston North, May 13, 1909.