THE LAND POLICY.

Gisborne Times, Volume XXIV, Issue 1944, 28 November 1906, Page 2

THE LAND POLICY.

STEEOiI JjY minister, of lands TILL MANAKAU ELECTION.

PRESS ASSOCIATION Auckland, last night. In opening tho land campaign, tho ilon. it. MeNub delivered a clear, incisive address at Oneliunga to night to a large, but not crowded audience. lie disclaimed any attempt to interfere with the election, but held that it was his duty to make clear tho position of the Government on the laud question, so that the electors could make their choice, deliberately choosing their course and tho consequences, He dwelt on the evils which had grown up under tho reckless system of disposal of. land under the provincial Governments, and said that the late John McKenzie's famous attempt had boon first to boldly grapple with the question of reform, lie had asked for a quarter of a million yearly to repurchase properties lor the people, and the power to compulsorily resume, but in the course of years four millions liad been spent and still the land was nut leasehold but had been surrendered and taken up again with optional right of purchase. Sir John’s intention had not been carried out. This could not go on. They would need three quarters of a million yearly to keep up the purchases, aud no Government could stand it. Therefore, the Ward Cabinet had decided to face the question, and the Bill was the outcome. They proposed to give the holders of leases the right practically of tho freehold, saving only to the State ten per cent, of the capital value. That must be inalienable for ever. When the individual had paid up rent to the value of 50 per cent, he was to be released from all restriction of transfer or cropping, and would be able to deal with the land as freely as a freeholder for the length of the lease. The moneys derived would not be squandered, but would be carefully invested to bring in five or five and a-half par oenr. currant miereis, of which 4 par cent, would bo paid to tho consolidated revenue tor interest on loans. Evontualiy no mocoy tor laud purchase would be borrowed from London, but would be provided wholly by tho colony, fie hoped when ho camo back from touring Auckland to put forward a policy whioa would satisfy all, and still tho cry of tho freeholder thus tho freehold alone would do for Auckland. Iu regard to the rights of leaseholder also, he stated that he wouid be treated as in life insurance, When ha bad paid up over 50 per cent, of tho capital value his property wouid not be oonfijcaled for nonpayment of rent, but tho deficit would bo paid out of the sueplu3 above 50 per osnt. untii that limit was reached. Then he oould borrow or draw out tho whole sum above 50 per cent.,, and repay if ha chose by iusial* moats.

A resolution was passed approving of tho Bill by a largo majority. A oounter proposal condemning tho Government for attempting to do away with the optional tenure failed.