The Patea Mail. Published Wednesdays and Saturdays WEDNESDAY, MARCH 29, 1876.

Patea Mail, Volume I, Issue 101, 29 March 1876, Page 2

The Patea Mail. Published Wednesdays and Saturdays WEDNESDAY, MARCH 29, 1876.

Tuomai some slight legislation will be necessary, before the reserves recently placed at the disposal of the Town Board are legally in their possession, that body has already been really endowed with them, and at Hie monthly meeting, to be bold on Monday next, the wbolu subject will be discussed, and, we presume, some action taken thereon. As our readers are aware, the Government absolutely declined to sell, but handed the reserves over for a period of twenty-one years, during which time the Town' Board, or any body that, may in time arise on its ashes, is authorised to deal with them, in such manner as its members in their wisdom may deem fit. In determining this the Board will have some difficulty, for there are two views to be taken as to the inone to be adopted. In the first place, tin re can ho no doubt that these reserves can ho made to produce a large income, and supply funds for greatly needed public works within the town boundary, and it is therefore only reasonable to expect that members will do their utmost to make their revenue from this source as large as possible. On the other hand, it must bo remembered that settlement within the township is the chief end that should he aimed at, and that it is better to lease these lands at low prices, rather than obtain high rates in a few instances and leave a large proportion waste. If ike upset prices of the sections be placed at low figures nearly all will be taken up, and, in a very large number of cases, built upon. The rates that would consequently he gathered from those so taken up would fully compensate for any low rental that might he fixed, and the township's proportions would grow apace. Unfortunately, however, the policy of low rates and full occupation, as against high rents and scattered occupants, seems in some measure to clash, and it is probable that some members of the Board will he in favor of the latter. It is to he hoped, should such opinions exist, that those who hold them will be found in a minority, and that, whilst guarding the interests of the ratepayers to the utmost, members will look ahead and reflect on what is likely to be the best course in years to come. We have been led into these remarks through an impression having got abroad to the effect that the Board, or at least some of its component parts, propose to place unreasonably high reserves on some of the land—prices, in fact, which would prove almost absolutely prohibitive. Possibly such an idea is utterly unfounded, and we trust it is so. With respect to the terms for which the reserves are to be let, there is no small difference of opinion, many thinking that, with a view to the probable increase in the value of property in the township, whether freehold or leasehold, a short term, say seven years, should only be granted, and that at the end of that time the land should he offered again. There are many reasons against that course. In the first place, on such a short lease, compensation would have to be granted to the lessees for their buildings, and it is by no means improbable that, when the prices to be paid were totted np, the total would amount to nearly, if not quite, as much

as had been received for rent during the seven years’ tenancy. Again, people would not care to lease for a term of that kind, one just long enough to find the town prospering, themselves with a good business, and then he compelled to pay a very largely increased rent or abandon their properly, be lined in fact for their enterprise. In audition to this, for a brief term, it is not likely that people would put up Hie substantial buildings that we hope to see rise on the Town reserves, and in short a general feeling of insecurity, rather than a desire for settlement, would follow what we should deem so unwise a policy. The same reasoning will apply to even fourteen years leases, though in a lesser degree of course. It would seem that to grant leases for the full term must be the most desirable plan, and, what is more, not to make the terms of transfer or sub-letting too stringent. By those means all the objections to short leases would be removed, and much huger rents would be more readily got and more easily paid. In order to meet the cpiestioa of Increased value, it would he very easy to adopt the course usual in many places, viz. have a graduated scale; the least annual sum for the first seven years, an increased rout for the second similar term, and a still further increase for the third seven. This would dispose of one material objection to letting on long terms. With respect to transfer or sub-letting, if the terms on which this can be effected are harsh, a very perceptible difference will be found in the income. A great many people.may be willing to take up sections, some for business purposes, some even for speculation, but whatever their objects may be, they do not care to bo unduly or unreasonably fettered or hampered in connection with their holdings. They are not likely to lease such white elephants, with their eyes open, and lienee the necessity for the conditions of transfer being made ns easy ns possible, That the Board should exercise some authority over such transfers, so far as to see that Hie sub-lessees are people of good character, and such tenants as members individually would accept for lands or houses of their own, is but reasonable, but in all instances where such is the case, no let or hindrance should he placed on subletting to any degree, for when it is

readily transferable, its value will be enhanced to a great extent. The Board, in coming to a proper adjustment of the whole matter, have no light task, and it is one that will require Hie very gravest consideration. Members have in fact to regulate the main revenue of the body for twenty-one years to come, and, whilst avoiding the Scylla of exacting too high rents, and checking settlement, have to escape the Charybdis of throwing away public property by leasing at unreasonahlv low rates. The matter is one of Hie greatest local moment, one that should not he dealt with too hastily, but thoroughly discussed in all its bearings before decisive action —that will affect the town for twenty-oUe years to come—be taken.