KOPANE LAND SALE.

Manawatu Herald, Volume XLII, Issue 2108, 27 March 1920, Page 3

KOPANE LAND SALE.

!S THERE GAMBLING IN LAND? Auckland, March 24. in an editorial reference lo the large prices realised for the Kopane lands al (lie Feilding sale, llie Slur says,: “Taking a long view of llie prices of primary products, have Ihc men who lake up land at .tint) or £l7O an a,ere a reasonable prospect of paying their way I W'c doubt it. We fear that one of two motive' is behind sin-li purchases — either the intention of selling again al a substantial profit, or reliance on export prices being maintained at their present level or going lo a higher one. It may seem absurd to suggest that men would speculate at such figures, Imt.nve know of a case in Taranaki whore dairyingland was honghi for £l5O an acre and re-sold shortly afterwards for £l3O. Speculation in farm land is going on all over the country, re>n!ling- in undcr-prodnction and dangerous inflation of values. As in (he future of prices, about no--1 him;- perhaps is it so difficult lo make a forecast, but surely it is well |o la* on llie safe side. It seems lo us (hat. to buy land al a figure that will pay only if prices do not fall is a gullible, (t is a form of gambling that is being widely practised, and if prices fall appreciably the consequences may bo disastron -a We admit that :1 remedy is not easy to find, but we suggest that Parliament muviit give its host altenmn In ihc- whole problem of inllated land values and speculation. The person we would like to see taxed heavily is not so much the one who fiuvs at siie'h prices, but the one who ;-e!!s, par!icnlariy if be has previously bought as a pure speculation and Inis not improved the land, il would be interesting to know, by the way, what is the Government valuation of Ibis block near Feilding. The Government itself, by its policy of buying so much improved land for soldiers al high rales, is partly resnonsible for llie tael that the values are soaring."