The Temuka Leader. WEDNESDAY, FEBRUARY 19, 1879.

Temuka Leader, Volume 2, Issue 122, 19 February 1879, Page 2

The Temuka Leader. WEDNESDAY, FEBRUARY 19, 1879.

A shout time ago, in a leading article on the advantages possessed by Otago over Canterbury as a country for settlement, we particularly drew attention to the extent to which the deferred payment system was being carried. English cablegrams just to hand more than back us out in the.statements made in that article. A company, it appears, has been formed in London, railed the Now Zealand Agricultural Company (Limited), with a capital of one million sterling. Mr Larnaca lias been the principal promoter, and along with him Sir Julius Vogel, who is to be a director. The object is to buy up the principal blocks of agricultux-al land in Otago and Southland, and sell the same again, at doubtless large profits, on deferred payments to enterprising small fanners or others in England. Mention is made of Joseph Clark, 0 . M. Bell, and. Drive) - and Larnach, all holders of large blocks of line land. Mr Clark, or rather “Big Clark,” as his father was called, made a purchase at one time (when the Provincial chest was empty), of a block of fifty thousand acres at ten shillings an acre, and that not many years ago. These lands, or must of them, will now doubtless realise from six to ten pounds an acre, if not more, if sold on the terms named in the cablegram, that is, to have ten to twelve years to pay them. Now we do nut begrudge the lucky owners of those rich inheritances the success of their enterprise, nay rather wo think the best thanks of the settlers in this island are due to Messrs Larnach and company for this new scheme for bringing settlers to the colony. But what'we do regret is that the Genera! Government, or before them the Provincial Government, did not look ahead to these times, and make some provision for settling people upon the land in an easier way than having to pay some ten to fifteen pounds, or rattier promise to pay this amount for it, as it is cpiite certain they never will pay it. If blocks of laud are not set apart for settlement on easy terms in this province, as in others, we may rest assured that immigration will go past our doors. Doubtless if this southern company is successful other companies will soon start up, and most likely in this province, such as tiro Levels Company, the Bead own Company, and others in the south, as well as several in the north. This will be useful in its way, as it will at any rate lead to a breaking up of the largo estates and give an opportunity to those who really nave some capital to secure a first-rate farm, ’well improved, and ready to make some return for the outlay. But we hope the case will not rest hero. What our Provincial Councils neglected to do it is I to be hoped Sir George Grey’s Government will be able to do next Parliament. That is to pass such a law as will bring the valuable land yet in the hands of the Crown wit Pin reach of hard- -vorking men, who if may bo have grown-up sons that do not know Thai lo l urn themselves to. Borne system must be devised by the Government for settling this class in this province, otherwise emigration to other provinces will be the result and not immigration. Looking into the future wo have our misgivings. Labor is at the present time scarce and dear, artisans cannot bo got for love or money. But will those times last ; Does not the high rate of wages check speculation in every lino ? Is it not already beginning to t il in our building trade 'I Not a house can be got in our littlo townships for one io pul Ji s . bead in. But will an}' man embark bis capital in building when labor and material are thirty per cent, above t .eir j usual value, and will soon be to its level 1 again. In our huge (owns scores of young.j men are already stalking llio streets. This'J is but the beginning of two end. Immi/t grains tire coming and they’ are I Out unless something is done snore than*is I being a!ready done :o put the worthy I upon the way of acquiring a bit of land j they will very soon betake the nselws to ! other parts of the colony where pro' ikon i

is made for their settlement. \Ve d .> not wish to run down the value of haul. n«>r do we grudge anyone ids well-earned com potency, hut wo do wish to s--e the country more settled, and s- tried in siu-h a way as will give a continuous flow o! ivvciiuo into the Government 'Treasury. That this ran la? done, and will he done if Sir Georg? Grey is able to hold Ids own till he meets Parliament there is no room to doubt With land open Tor settlement, ami a vigorous prosecution of public works, Now Zealand will bo prosperous and happy when other nations veil! he reeling to their very centre, and that very soon.