The Manawatu Times. WEDNESDAY, NOVEMBER 21, 1877.

Manawatu Times, Volume III, Issue 10, 21 November 1877, Page 2

The Manawatu Times. WEDNESDAY, NOVEMBER 21, 1877.

We hear that it is in 'agitation to form a Land. Co'mpaiyp to purchase land m the Manawatu district from the Government and to open it up for settlement by forming good roads, surveying it &c.,'and that an application has already been made to the Waste Lands ' Board for &

block m the immediate neighbpurhood^of Eitzherbert Town. -This application has been unsuccessful, owing we presume to the low-grice offered, but the Board s|ve again been applied to on the subject and requested to name the lowest price and the best terms on which they would sell to the Ctfmpany ; and. we hope that their answer will be such as to encourage the promoters to proceed with the matter as soon as possible. There are three points of view from which" to look at the scheme ; namely, what benefit it would be to the colony, what benefit it would be to the district, and what benefit it would be to the shareholders : and we propose to glance briefly at them each m turn. To commence' with , the Government point of veiw. "We think that none can deny that it would be greatly to the benefit of the colony, and therefore of course the object of the Government, to open out the whole island, for settlement as soon as possible and at the smallest outlay of the public money. At present the block of land m question is utterly shut off from the rest of the' world, having no road to it or other means of access, and has not even been surveyed. The Company would at their own cost make a road through, the- whole length of the _blpck, arid to do so wquld first have TaTnake~bne tnroug^TThtKland ;,:(on that side of the river Manawatu) already sold. They also propose at their own expense to thoroughly survey it and to divide it into suitable sections for settlement. Thus then, the Government would save some £6000 or £8000 which must be expended sooner or later for the purpose; and a large area of land would be immediately made available for sttlement which would probably otherwise remain m its present uninhabited condition for years. Surely then it would be good sound policy, for them to encourage this, and other schemes of a-similar-nature, by giving the best terms they can, consistently with the laws now m force./ Wo now turn to euquire what benefit it would bs to the district. In the first place if it would be a great advantage to .the Colony * generally to have the'land; opened up, how much moro so Avpuldit be. to the district m particular"?' It would bring m a large number of the better class of permanent settlers, lower the rates by increasing the number of those who: pay them, encourage trade by enlarging the quantity of customers, arid "in every way promote importance . and vitality m the whole neighbourhood. Even the initiatory work of road making- and surveying would provide employment for hundreds of men and circulate a large amount of money. Then, too, what would induce the Government more,to make railroads and to improve fthe harbours m the district, than to show that from the rapidly increasing population it would pay to do s6 ? Lastly let us see what benefit it would be to the shareholders; but before doing so we must mention that we are informed it is proposed to make the shares only £1 each, so that even the poorest may he able to help m increasing ; the prosperity of the place and. at the same tithe find a good investment for their money. ' ,; : If the "W"aste Lands Board will, m consideration of the expenses above mentioned, sell to the Company at . a reasonable rate, there cari be no doubt that as soon as the roads' are formed and v the sections ready for allotment they will be eagerly taken up provided they are sold at a rate which will jast pay the origi r nal cost of the land,*the expenses of opening it ou p, and fair profit on the money invested; so that the shareholders may reasonably anticipate a return, of their capital with at leasf'as great an addition to it as they would obtain elsewere m a considerably longer period. The Company would m fact have all the advantages of a Building Society, with the additional- one that tne< capital and interest would be returnable m a much short§r time.' "We haye not' space to enter into this question more fully at present, but we trust that enough has been said to show that the proposed scheme is to the advantage of the Colony, the district, and the shareholders alike ; and. we hope that 'it will meet with every support and encouragement both from the Government and the public.