THE Wairarapa Age MORNING DAILY. TUESDAY, MARCH 22, 1910. LAND SETTLEMENT.

Wairarapa Age, Volume XXXII, Issue 10000, 22 March 1910, Page 4

THE Wairarapa Age MORNING DAILY. TUESDAY, MARCH 22, 1910. LAND SETTLEMENT.

With a flourish of trumpets the Government passed the Land Settlement Finance Act, but though the J measure itself may be applauded as an excellent measure, it does not appear that it will provi so valuable ! as it would were a practical, ener--1 getic administration in power. Ministers are so busily engaged defend: ing the administration of the Government and extolling their industrial virtues that many questions, which are not of an altceether unirfljioreant character, such as land settlement, fail to receive the att3ntion that they deserve. The Land Settlement Finance Act is law, but the Ministry of the day do not seem to be in the least concerned as to whether any one benefits by the provisions of the Act. It is a measure that should promote land settlement in the Wai- i rarapa, but will it? What have we in this district, but land aggregation rather than land settlement proceeding steadilv. Theie is no district in the Dominion more in need of land setMement than the Wairarapa

there is no district where less settlement is going on. Land aqgiegation is, of course, an unmitigated evil, but it is one that must increase un

less the antidote land settlement ii vigorously applied. It is only natura that men who make money directly iut of the land should feel disposec ;o invest yet more heavily in land ind while the ruling prices for pro luce are high all goes well, witf :hem at any rate. When there is £ Irop in prices then disaster some' ;imes occurs, and invariably economj >f the strictest order prevails unti setter prices have been experienced igain for some considerable time. Land aggregation is, of course, injurious in its effects on the towns surrounded by the monopolists at anj time, but doubly so when depression reigns. Realising these facts, it is impossible not to fdel disgusted thai when the Government pass such e measure, as the Land Settlement Finance Act, that they do not makt provision for its being effectively administered. It seems to us that possibly further machinery clauses should have been inserted in the Act, but, assuming that they were nol necessary, one cannot see why the Government do not endeavour t< make some effort to give publicity tc the provisions of the measure that is the subject of our "comments. This could be done in several ways, bj sendiDg a lecturer through the country, by appointing resident agents ir various district, by advertising an( so forth, but we fear that vigoroui application of the Act is repulsive t< the feelings of our somnolent Govern ment, and hence country towns, and : indeed, the whole industrial indue tries of the Dominion must suffer. Under the Act referred to groups oi purchasers are enabled to buy ai estate lor sub-division among them and to raise the purchase money bj means of a loan guaranteed by the Government For this purpose anj five or more persons may by agree ment form an incorporated lani settlement association, and may pur chase in the name of that ausociatioi any estate consisting of not less than two hundred and fifty acres The agreement of purchase musl comprise a scheme for the subdivision of tile estate" into allotment! not less than fifty acres in extent, and for the allocation of each of those allotments to one of the purchaser! at a fixed price. The agreement becomes operativei only if it is confirmed by Urder-in-Ouncil in pursuance of a recommendation of the Board of Land Purchase Commissioners. On the confirmation of the agreement the incorporated association, acting through the Public Trustee as its agent, is empowered to raise tha .total purchase money of the estate by th 3 issue of debentures under the guarantee of the Government. On the completion of the purchase the estate is transferred to the association, and the several allotments are then traeferred by the .association to the individual purchasers. Each purchaser gives a mortgage to the association to secure the purchase money of his allotment, together with interest at such rate as is sufficient to meet the interest on the debentures and the incidental expenses of the association. The purchase money of each allotment so secured by mortgage is payable by such instalments as the mortgagor chooses, hot less than a specified amount in each year, and the balance must be paid in twenty years. All capital, and interest moneys so paid to the association by the purchasers are expended in meeting the interest accruing due on the debentures, and the balance is accumulated in the hands of the Public Trustee as ai sinking fund for the redemption of the debentures. From the various provisions which we have mentioned it will be seen liow much the Government might do to promote land settlement and hew little they are doing. Knowledge of ;he Act should in : fact be disseminited broadcast.