THE LAND CAMPAIGN.

Taranaki Daily News, Volume XLVII, Issue 81895, 28 November 1906, Page 3

THE LAND CAMPAIGN.

LATEST TELEGRAMS.

- OPENED BV HON. R. McNAB. LAND BILL APPROVED. Pet Press Association. Auckland, November 27. The Hon. Mr McNab delivered a deiar incisive address at Oae.iunga to-night to a large but not ciowiitd avdience. He unclaimed any attempt to inteifeie \vitu me e.cctiou, but held it his duty to make cluar the position of the Government on the Land question, so that the eectors could make their choice deliberately, chosing tneii touise and tue consequences. He dwelt on tae evils wlticj had grown up under ti-e lecKess system of the disposal of land under tue provincial Government, and said that the late Sir John McKenzic'* famous attempt bad been the first «, bo d,y grapple with th u question of lefoun. He had asked for a quarter of a million yearly to re-purchasc pioptrties for the people, and the puu rlO compulsoriiy resume, but in trie course ai yeare four had been spent and stil. the land was not leasehold. Sir John's intention had not been carried out. Tuis could not go on. They would need three-quarters of a million yearly to keep up the purchases, and no Government, could stand it. Tneretore, the Hard Cat>inet decided to face tne question and tn« Land Biil wa- tlt e outcome. 1 hey proposed to give holders of leases the rignt to prac'ically the freeuold, saving only the Slate io per cent of the capital value. That must be in-! alienable for ever. W'uen the individual had paid up uis rent to tae valui of 5 per cent (sic;, he was to be released from all restriction of transfer or cropping, and would be

able to deal witu land as frte.y as a fie holder for the lengtn of his lease. - The moneys derivea would not be squandered, but would be carefully inve.ted to bnug in 5 or 5! per cencurrent interest, of wuich 4 per cent wjuld be paid to the consolidated re- . venue for interest on loans. Eventually no money for land purchase would be borroVved from London. Tne Bill would be provided wnoily by the colony. He hoped when he came back from touring Auckland Jo put forward a policy which would satisfy all, and still the cry of the freeholder that freehold alone would do for

Auckland. In regard to the rights ot the leaseholders also, he staled that be would b- treated as in life insur•nce. When he had paid up over 50 per cent of capital value, his property wou.d not b| confiscated for

non-payment of rent, but the deficit would be paid out of the surplus above S» per cent until that limit was reached. Then he could borrow or draw out the whole sum above 50 per cent, and repay if he chose by instalments.

A resolution was passed approving tbe Bill by a large majority. A counter proposal, condemning the Government for atttfaiptiug to b , «way With optional tenure failed.