Reckless Excitement.

Manawatu Standard, Volume X, Issue 1484, 19 October 1885, Page 2

Reckless Excitement.

(Napier Evening News.} The reckless excitement wbjnh seems to prevail m Hawke'a Bay f with regard to land speculation is a matter very serious iuipprt.to.every, resident in/,tha , diatric'fc.' If 'the absurd prices f fot i <M>& try land,s are inaintained^ time will m^st certainly come when all classes wil^fetl the evil effects, for it will not be ,poßsible for those purchasing country lands at the present fancy prices to figefe *tihv« ing out of them. No amount of reason* 'ing canl possibly show that 'Jandr an tbdt neighborhood of Hastings is' worth ' kg* much as land disiKnce of London,; and yet land m Middlesexs-Eng- , land, can be bought for 'thV* gamer pn'co-i as that asked for land within sixteen, miles of Nauier.^ The fallacy of supposing^hat land is worth more when it isisdbdivided'than whenit.fs itt«ilfi:gaS paddock is so transparent that it is amazing the public do riot at once-rea-lise this. 'The only reaEKJjl^Ey^e^and when cut up does bring the larger amount of money is not that the land is anyway more valuable : iUs ? because it s is Drought within. the reacnlojp n£®t JIT small means thereby. Hundreds ofmeri ' I can just afford to .buy a quarter-acre seo- | tipn by'payihghaif-Ti'.iirownmthe^una, and leaving the balance at 6 per cent., arid 'therefore these very 'verdahti VperK sons of limited' capital bid -against each other and raise the value of land to an-absurd figure. S,o\vrith c,ountry o lan,ds i , H-number& r of; small .<a'n oiiy' _ blocks of a few acres area,' anH'tn^y 5 never reckon how ; tbey , are ever, to make the flarid produce 1 what* they' have' ; &iven*for' | it. They only-pay a small instalment of :the purchase moneyrand recklessly leave ' the'balance oa mortgage. ; ' (Uijderthe-deTj !;l(iswa that they are becoming tiaeirown landlords they do this, when m reality they would be far more independent as •tenants.'] -.pFhe, simple fact^is, tjrat-itjsays large landholders "better" io "sell theirland insthis wjiy than ,to lease.it, Simple, and. unmistakk f Dle 1 tha« ! they mate more moWey out of 'tne^inWesH standing on mortgage than they could! n'-rcfnt*. 1 * thoifghtf ql mnn> sctesiihjs at once, and marvels at the tolly, (rftjipjjft ihdivjdnals who_ keep f orgeUinj? .that land is only worth precisely so much' as can be got out of it. Just now m every direction is the 'sujbdiyiding business going on, and/we warn" new^arrivals to take heed bow£;they/purchaseV The old Hands who apparently purchase are f requently only 'decors., As : s^e have m previous issue's^ ezplamgd', tß^y, agree to bny with the arrahgement that* he from whom they * purchase -will, iri^say three months, re-purchase w at^*a premium. Thus they make a few pounds arid the ! specula|ive vendor gets a nominal value placed on} His; land J Just fthe|same ex-| perienic as" we" are "now unclerg^m^hr 3 this district w ; as felt m Canterbury, where yearsago lariii went^up?oTObulouß prices-hth^tip,, to about the figure«,reachßd by land m this district ; now land A m [ oanterbnry; r ;id;;nQfe7W6fth,;mpr% than i pne r third ol that . price. Quite rejje'ntly'a property^ wKich five .years aeoi was -'-bought' 'for'- £1000. iii> f)ury, was'sold for< £2000. If the fdT^ 3 | now being indniged m jn Hawke's< Bay as far as land spec-nlation 'goes, fides, not pease disaster will most certaimy result To show' the value of land it>may be mentioned that m the Illawarral :di6triQt,» pf New South "Wales— ra fertile»/tract which., ;cairiefr one cow.tq thejacre on indigenqus;gjfasß, and; fk, a^tr^t'deydted largely m ,dMry.farminjg,^hnd ! can be jpurchaMid^ a£ ;: £3p J per -'dcie.'' Tliik'iand is mtW eas^'distance pf "Sydney/ W that pairy produce can be placed ■'■>*oii the practically* inexhaustible market >df the metropolis for a few! shillings postpt carriage. The butter and cheese produced jaref) highly prized, a^diif butter brings, threepence ,per Ib, and cheese) fiy^penioev all the year round, the farmers inaket a very comfortable Kyihg. ! £Lb- price¥;4iowiever, only range at this low figure dux. ling a veryfshort perlod;;ge,ffe«>iry better jbuslness is done. Nqw why^pajf at the irate of 'from £sOt6 < 4ioO an 'acre for |land-"ih Hawke*s r ßay? n We' >sayai(bai Iquite as good, if- not a betteriretnrn, can be got off the land m New South Wales '- on account of the ready t/Tna^etjfpr^ajy quantity of produce, ahd,it is sinipie^fouy to invest money m land m Hawke's Bay and reap, relatively speaking, littleadvanfage.' J the land m Hawke!s(Bay.i3nnot be worth more than £50 per Acre, and all those* w^ t^iiy :(^^Qteit u tl)ftj^^(j^{^jn«| cause' to regret it unless they are^uocessful m finding someone with a little money, fool enongh" to buy., from them and incur the foss instead'/' :'l