Manawatu Standard (PUBLISHED DAILY.) The Oldest Daily Newspaper on the West Coast. WEDNESDAY, NOVEMBER 5, 1884. THE TRUE VALUE OF LAND.

Manawatu Standard, Volume VIII, Issue 126, 5 November 1884, Page 2

Manawatu Standard (PUBLISHED DAILY.) The Oldest Daily Newspaper on the West Coast. WEDNESDAY, NOVEMBER 5 , 1884. THE TRUE VALUE OF LAND.

I - : -'- The Napier" Telegj-dpfi' writes as ! j follows on this amptfrtant question! i and the other' 'feat^irgs inseparably ; j conp^le^he^ewith :— -^he yiane^ j sheetsr&f^orijeiof'ihe pubjiccbnipani i je^i' trading in f New , , (^ealand have j lately b^en, ttu^ijs^^apg b.a^e dist closed' Wo^t satisfactory ' results to i sfr^k^sty. The large <Jiyjd£n<Js_ ! fesuitinffifroni their; business operaj tioiteM i: m^m^ a of corisib^rable' depression in ; to th^^^li^aiWof lriterest'cnarged ! to jgrj^ate^ bp^rowjers. ■■< I^ha&eyeai S been asserted that* ':,■ with the excep- | tiflw {of tEgypt, hcapital*: dratfs more* ) o,ut jofllabor/in New Zealand thanin' j any other . pbfoatry >• {-hi the world. j This may or may not be true, but j continues solven't. f . 'There can be 1 no doubt, however, that New.Zea, i land ofl&s: an attractive UU]to^e | mone^'lferifler, and for the reason ! that-when bur settle^ Wantto bof- ! row they jwfllf Jratej&f &} loW&o mat^ <terat what cost. The result has j iwh^ l^e^o^ t< '^va]^qs fl .ywd|i^ nuI merons-^tMces'' tnVse s 'varoes will j neveri.be irealised.fi uiTJieupriccslnjoy < being asked ! for* land |i»arei for -tlie ! mbstfpa^fcioutl'-of ; allpropdrtipn-tb > what can be got out' iof the • soil. • The. same thing is ;1p be found from i t||e, b.^ish , settlemejUt^w^erej ito the open pastoral country wksXfi { from -£5 to .£B^ is asked for land | that cajorib>i support '■•' two sheep- to ! thp-iacre. vi'ln 1 dthei -Idealities' wJiete j it is thought^the; chancesbf'fipectij |! lation exist, f the" prices demanded !! aVe'feMplyJrift^ jfrom^o ! t6' l &M' per "icre is the I value put /pn Jawl tha^caji.iieverfbe ; capital inyjjestfcli; :i excessive ! prices are not confined to Hawke's ! B4y<£ftu£ $hisu^istricfc J furfcisTwsVa igood illustration, of-what is going on ' all over the i I colony. . . To. use' a' villi' j gar-expression^th& landownere r as a ; body, are mortgaged Mp to the hilt, and^e^grejtfc deal, •wors^e<rtTj than ; the few' hands they are bbligeotto ; emp|oy> v &nc£Anj the .gragpj.qf;^ • money-lender^ thefe;; is no escape; | the borrower becomes the tenant-at-t w|H;;dt thg^capjtali^v . or .th^np^d• jj oyersjper y pliihis;C^4iti9)r*n ■< Msqqri, as j a^uyer can be found the f origin^} acjqupier goes out "j ); and ...msles I repm for a fresh victim,, .^p.^ill jb^ I freatec^ !ftlt^?!sapifi, I w.ay as ; sqpr\>a? I; brej own money. Kihris,!, exliaussed.< It— can scarcely be said that the money-lender., js to blame for this state of things. -It is due to a variety- 6f^auses,^ the primary, one bein^tflVpern^ipus • habit ; of' "New 5 I ZeAl/jhd fcolonfetsbave gtit^intb ><©f ! $&tM\#%,^fe"bdtelr>drctei !:^ | ettpng -Wa' ftusiries'switn' r'staiy&kffi,cienpy',*bf j 1 trying is fey n^mqftfc, ebHftned & pr^va,te .in^iyjaualsf, it js, to, tje seen. U} . j t(^, . PjblievßS. pf eyeijy , Government, and to " bu't-rufl, .ifce constable 'Cis fts-,^bmmQn ; for a Ministry as' it ! ifi/%r ; tfie /gheepfarmer or the tradesman. Almost simultaneously with the sudden riae- jin the value of colonial producta at the terminatibri of the' Frahcb-Geit-n|a ( n war, tl^ jtarrojHed, millioiis lifor. th^ jprp^equtipn* qf^,tl;e public MQjffts policy. TChe effect was as tkm^ Ap ma SW? nls . W .^PJ^ frad Men paBse.d»Qyjejr,;Jbe Icpunty 1 cpuntyy 1 and everything bad b.een turned to gold. Tljig' )iMprp^erJied^|an4:PW I to find that j -wp^ on I

his estate that had threatened his daily ruin were, but, a drop m a bucket compared to the valup of his property. Many sold out and retired on fortunes ;. their .successors again sold out to. new corners at still more enhanced prides, v Th6n came the end. No more buyers could be found, and the occupiers found j^hems^eke, sjqtLesfates only partially Jtaid iS>r: ,;apd. VeaVily mortgaged. Misfortunes come not singly. The colonial produce market once more ] v|eilv vand -*a depression (ensued, tjbat^ S^sTelt'by' eVerjr class m the cblbny exGepfc>by-the*aioney4ender, whose .interest remained the same i as when it was fixed m times of prosperity. A glance at the advertising columns of any newspaper will supply the sequel to thejragh^ftetiiations "fe land that characterised thje 1 prosperous period.? ' It v^ill be 1 se^n "that morlga|eW.j^?^ for %afe A iiPiihe^rice of jihG inpney they^navejln^^iiid- even at that reduc^E,*aluii 'buyers are riotifprth.jMimj^i^hile amount $f unera'pfeyi^capital.»|si.; .enprmousr>; The effect of this state of things is expe : m its <\ seventy by the; passes i: the jnuinbas of: > *'s^aggerßjL.are_ a^diitrelimg fealiire' ,t)f our public thoroughfares. The s traighteii^ W^ans -of tthelando wner debar him. V| ftQm. employ, ing ( mpjje than absbluteiy necessary' laDor,' and n^teW^hy^iteuni^taiio^ M£ %W <fi jNL IMQ&& ais'dear, or deir'fe'tbiddf^'it vr ahy othet'perrpd 1 The existing condition of iffatfs prompts the idea that no ameli6if>tion can be looked for till the price otf&W&lls'W*^valtieHHatiari be f obtajnedfirom the f soi^. T When that pect to beqonie independent Qt the v money:-:lend^r, $05. .. lappr , to t ,nna leni-