The New Zealand Times (PUBLISHED DAILY.) MONDAY, JANUARY 21, 1878.

New Zealand Times, Volume XXXIII, Issue 5250, 21 January 1878, Page 2

The New Zealand Times (PUBLISHED DAILY.) MONDAY, JANUARY 21, 1878.

The valuation of the city of Wellington for Corporation purposes, which was published a few days ago,- showed 1 a satisfactory rate of progress during the past year, though proportionately not greater than the increase in value which took place during each of the the three preceding years. The total valuation for rateable purposes for the ensuing year is fixed at £207,605,: being an increase of £30,735 on the previous year. In 1874-5 the valuation was £127,261. The increase since then has been about sixtythree per cent. —a rate of progress greater, we believe, than could be shown in any other town of equal size - in the Australasian colonies during the samp period,. The population has increased, we think, even in a larger ratio, and it would not be a matter of surprise if it were found that the census, to be taken in a few weeks from now, shows that this city has doubled its population, since the census of 1874. But au iniidequato idea can be formed of the real increase of the value of property from the ' returns furnished to the , Corporation., The increase ■ shown by the 1 valuator lias mostly reference to additional buildings having been erected during the pastiyear, and improvemerits of wliat we might term a visible nature ; but the enhanced value of the freehold has scarcely at all been taken into consideration.: Land in almost every direction in the city has advanced between two and three hundred per cent, within, the past four years ; but. as the rate appears to be fixed according to the letting value, and not on the selling price of the freehold, it will easily be seen that the valuation of |the unbuilt portions of the city bears no proportion to the real value. It is the buildings that are mainly taxed, not the land. Why this is so appears to us inexplicable in the face of the clear provisions of the Eating Act, which enacts that the valuation shall in no case be less than five per cent, on the fee simple of property, the valuer to be guided by what he believes to be the actual selling price. The 1 Act seems to be a dead letter, and. the valuation is in-a great measure fixed as of old, namely, on the letting value. If the land was fully taken into account, wo have little hesitation in saying that the presentvaluation would have shown an increase of a hundred per cent, on that of 1874-5. It is the land that is chiefly enhanced 1 in \yorth through works being undertaken by the Corporation. There are acres of land iu this town unbuilt upon, the selling value of which would be over £2QOO oachj and the owner is let off with say forty shillings for yearly rates. But in the case of a man who owns a house of the value of £2OOO ho is compelled to pay not unfrequently as much as £lO, though the house itself in no sensible degree increases in value. Any increase which takes place is on the ground upon which the house is built on; the land is worth so much more per foot. To anyone who looks deeply into the question it will be palpable that the present system of valuation is grossly unfair to those who improve their properties by building. We will revert to this point when the details of the present valuation are furnished. We will now turn to a more pleasant theme. The population of this city has increased enormously during the past four or five years, and is still steadily growing ; but this in itself would be no great cause for congratulation. Aro the people generally prosperous ? and has remunerative employment been afforded to the additional breadwinners who have come amongst us 1 These are the questions to be asked before congratulating ourselves. That they can be answered in the affirmative no one will gainsay. For the last four years the condition of the industrial classes of Wellington will compare favorably with the condition of those in any other part of the globe, while other classes of the community have, as a rule, increased the value of their lands and added to their other worldly goods. Whether the growth of Wellington will continue at tho same rate in the future will depend largely upon the moans of communicationbetwoen the port and the interior of tho province. The opening up of the interior, and every facility being givpn to people to make homes for themselves on tho waste lands of the Crown, will secure Wellington tho more speedily that premier place which it is destined to take amongst the cities of New Zealand. Wo have on more than one occasion alluded to the importance of a railway from the Hutt to Palmerston North, via Pauhautamii and Waikanae. That line would open up for settlement several hundred thousand acres of land equal to any in the colony. Such a lino would have an immense beneficial influence upon Wellington. It is a well-known truism that it is the settlement of the country which mainly leads to the progress and permanent prosperity of the towns. It is the bounden duty of everyone in this city to use every legitimate means to impress upon the, .Government the necessity of connecting the port with the interior of the provincial district. In the case we have alluded to the construction of a railway would cost the country nothing, for-the Government would be fully, recouped the cost of construction by the enhanced value given to the Crown lands. It is to be sincerely hoped that next session no stone will be left unturned to have

this work carried out. When this line is constructed, and the Wellington and Masterton railway completed, we are satisfied that this city will show even a larger degree of progress in the future than it has done in the past.