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Oamaru Mail, Volume IV, Issue 940, 22 April 1879, Page 2

A CostPASY la being formed in Taranaki called the Taranaki Land Company, for the purpose of buying and re-selling land in the Provincial District of Taranaki. 'VN e know of no better field for such an enterprise than Taranaki. There would be little or no advantage in having a Company to negotiate for the purchase of lands for re-sale unless those lands were purchased at such a price as would enable the Company to find a ready market for them at a profit to itself. This cannot well be done unless in the case of Crows lands; for when lands have passed through several ownerships, prices are visibly affected. The intervention of a Company in the purchase of Crown lands will in this reaped be quite bad enough, for they will expect to make sufficient out of their purchases to pay the expenses of the conduct of their institution, as well as sufficient to pay a fair dividend to their shareholders. But perhaps the Company is Wing established upon principles of patriotism. The only ambition of the promoters roay be to brinsr nijotii tin settlement of the targe areas of country whidi must gradually be ma4o available for that purpose. If this > be the case they will have ample scope for j their operations. They will be able to buy I up large estates, and sell them upon deferred, payments at prices that will only just keep j them from being out of pocket. If thoy to be successful in their operations, they will liavato do that, for they will have to compete with all comers in the market in which they make their purchases. People desirous of purchasing will not care about giving an additional ten shillings an acre for the honor of purchasing land which has passed through the hands of the Company.' They will rather buy direct from the Government. If the Company had started when the Whitaker-Russcll land speculating ring was > in fall operation, they would have had more j propitious circumstances to operate tinder, j and, provided they had been able to work j against the strperior advantages which their | oppoaenta possessed through political in- j fluenee, they would have succeeded well.; Bat the natives cannot be tampered with j now as they were in the days' when * few men thrust themselves' into the position that should 1 have occupied by the Government, and reaped advantages that should have been reaped by the Colony. They will only have the same opportunities as other people now, and, unless thp Taranaki Land Company J intend to set with exceeding liberality, they ; may exist, bat their usefulness will be enusped. What is wanted is the introduction of foreign capital, and we think that if the proposed Company exert themselves to promote this desideratum they will per-

I form good service to the country. The • waste lands of th 6 Colony should be settled, . if the Colony is to be placed in the position i of easily meeting its engagements, and carryr ing out the heroic policy of Mr. Macandrew, by which the country would be intersected by railways^^^_^^____