THE LAND GAMBLE.
A WARNING. Says the “AVairarapa Age": The land gambling that is going on in New Zealand at tho present time, particularly in the Taranaki and Auckland districts, cannot fail to bring in iis train ruin and disaster. Men who pai bid and over, even for dairying land, are on a. fair way to the bankruptcy court. The position is the more -serious when it is remembered that in many in-
stances the pun-liases are made on 10 and 15 per cent deposits, with the balance on mortgage. Ibis system is lending itself to speculation and inflated values, and when the crush comes as it. inevitably will come —the mortgagors will find their properties worked to "'death. Tkq only way to minimise the speculating evil is to limit the \alue ill land to be held by any one individual. and to apply the same principle to freeholds as is applied to leaseholds-. i.e., that no transfer shall bo permitted until the land has been occupied for a period of, say, ten year.-, and certain improvements have been effected. To permit the unrestricted gambling in land is to undermine the, foundation of the national stability, and to seriously retard the progress and development of the country.
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Bibliographic details
Otaki Mail, Volume 26, 6 August 1919, Page 3
Word Count
207THE LAND GAMBLE. Otaki Mail, Volume 26, 6 August 1919, Page 3
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