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Shannon News, 15 December 1922, Page 3

A Levin resident who has lately been in Taranaki informed a Chronicle representative that, while the dairying province had been very hard hit by the slump in prices, it was making a quicker recovery than some other parts of the Dominion. This was due largely to the extent of the voluntary reduction of land values. In most cases the solution arrived at Vas to base the value on a butterfat rate of 1/ per lb, with a proviso that, in the event of the season’s average exceeding that figure, the land value and consequently the interest would rise accordingly The Levinite learnt that land speculation had been particularly active in the Hawera district. Farms had changed hands in some cases almost weekly at enhanced figures, biit the effects of low prices had been greatly modified by the general recognition of the principle that land was only worth what it would produce. Our informant was convinced that adjustments on this basis are still absolutely necessary in many districts to bring the country back to a sound economic condition and save many farmers from impending disaster.