TRAFFICKING IN LAND.

Taranaki Daily News, 20 May 1920, Page 5

TRAFFICKING IN LAND.

FARMERS SEEK A REMEDY. | '' J ACTION AGAINST THE Means for restricting trafficking ia J land were discussed at the coaference'rf j the Taranaki Farmers' Union when the executive brought forwarolt|p9 following remit: "That as a restricting the trafficking .in land, mM lation be provided that on a sale all'MiM isting mortgages 'be cither paid off each reduced by a minimum of 10 cent, increasing 1 per cent, for every^l® jfl per cent, of rise over previous flftlfr" m The executive, sarid Mr. MuWjtflUfl ivouid like to do something to etocfcM undue trafficking in land, irrespeetive'df® the price. There was no doubt that duction was seriously affected' by tads being held by speculators. He (tewiS that some legal firms were advising client* to insert a clause in the tranvfpfl that no re-transfer would be permHAwß unless a percentage of the existing moiigjß gage was paid off. At present, by pay-fl ment of a small cash sum, a speculatorfl was able to hold land, but under tike prD*fl posed system cash, would have to found to pay off 10 per cent. Of the Ttt&ftlgU gage. It was regrettable, but'they ktxvfl (hat some farms were saddled with Ijfl A voice: Fourteen. ifl Continuing, Mr. Maxwell said that fbfcfl was u most regrettable 'state of clkltlbS It was not desirable that so much JWpflvH money, as it were, phould be issued. knew that many sales would not tftkiiH place if this proviso were carried. :>"jH The President, in seconding, said it was desirable something should, ||lH done. He had even heard of said made lyith similar conditions. It do good if it made men realise their sponsibilities, when takiing over * The way land was being trafficked no>v was like a pack of cards. i ilr. Astbury did not think the would have the desired effect, as if person was anxious to sell he waive the conditions. No could be got to draft a law like that affect city, suburban and country la Some restriction should be Imposed] it would be impossible to carry it out' actual working. He considered the way to stop trafficking was registration, limitation of area, and twj^H Mr. Maxwell, in replying, raid they did not hold that their solution the bjst, nor were they could be carried out. but all were that trafficking had reached a stage it was injurious to the community, it was desirable that something lie done to check it. This was a attempt to restrict trafficking and al«o augment the revenue. ' The remit was then carried. j