THURSDAY, MAY 3, 1866.

West Coast Times, Issue 194, 3 May 1866, Page 2

THURSDAY, MAY 3, 1866.

I We very much question the wisdom of the resolutions adopted at the instance of the Improvement Committee, by the public meeting field on Tuesday night last. It is most desirable, of course, that the present unsold lands of Holcitika should be converted as speedily as possible into freeholds ; and from their becoming so, would, we belif,ve, date the advancement of the town. Nothing can be more discouraging to the investment of capital in building improvements, than the present insecurity of the tenure under which holders occupy. But the course proposed by the meeting would not only unnecessarily defer the Land Sales, but would occasion the present occupants to pay a much higher prico for their allotments than if the ordinary machinery of the law, as it stands, were allowed to take its course. In the Executive memorandum elicited by the report, of the select committee of the Provincial Council, the Government explained that they could not carry out the views of the Committee, without such an alteration in the law as tho General Assembly alone was competent to effect. Under the present law, all town lands are required to be put up to auction at an upset price per acre ; and in their minute issued by the Government — which was published in this journal on tho 24h February last—they state that tlwy are " advised that ftev cannot, as

desired by the Committee, sell tho sections to tho present holders otherwise than by auction." It was, so far as practicable, to meet what were understood to be the views of the publi« of Hokitika, tlaat they determined to hold over the sales here "until tho General Assombly could pass an Act amending the existing law. It is at present most uncertain, however, when the Assembly will meet really for tho despatch of business; nnd still more uncertain at what date a Bill to amend the Land Regulations, for the behoof of Hokitika, would be likely to secure the attention of the House. Besides, it may be doubted whether tho delay occasioned would prove tho greatest inconvenience resulting from this appeal to the General Assembly. If tho Government were empowered to offer the lands to the present occupants, at a fixed price, excluding competition altogether, for the sake of securing tho interests of the present occupiers, is it likely, underl present circumstances, that such a price j would bo fixed as would meet the views j of the promoters of the meeting of Tuesday ? Thero can be no doubt that the late sale of Town lands is looked upon in Christchurch as a failure — that a very much larger sum was expected to be realised; and that there would be little disposition now to assent to, or to recommend, any measure which it might be thought would tend to sacrifice the remainder of the Government town property. In all probability a memorial to the Superintendent, praying him to submit a measure to the Assembly for fixing the price of land in tho principal streets of the town, would bo met by him with a blank refusal; and ifjho himself consented to further suoh a measure, it is probable that it would meet with an effective opposition in the Assembly. It is not because different views were at one tune entertained, that the public should now refuse to tako action under the present law, if circumstances indicate that it would be to their advantage to do so. When the Select Committee reported to the House, and suggested that an exaggerated value should be placed upon improvements, in order to defeat competition, tho idea prevailed that there was likely to be a general raid made by capitalists upon present holdings. That apprehension, wo think, must have been entirely dissipated by the result of the recent sales, at which there was scarcely any competition at all, and scarcely any occupant disturbed in his right of possession. It is no doubt flattering to be told by L Mr Sjprot, that capitalists aro anxiously watching for the opportunity of pouncing down upon our most valuable business sites. But at the last sale there were allotments put up, as likely to attract the attention of iutending investors as any that remain to bo offered. Wo incline, therefore, to support the counsel given by Mr Eicke to occupants, to tako action undor the law as it stands, and that without any delay whatever— and demand the sale of their sections at the upset price of £48 per acre, allowanco being made by valuation, as in the last instance, for all improvements effected. In the vast majority of instances, we believe that properties could be secured by their holders by this means— and a deposit of 10 per cent, is all that is necessary to accompany the demand — at a much cheapor figure than even the 10s. per foot proposed at the meeting to be adopted as tho fixed prico. Applications must be received at the office of the Waste Lands Board, Christchurch, or the Survey Offico here. The pubile havo thus a means within their own power, without waiting for any deferred legislation, and probably upon terms much cheaper than could be realised under any other conditions ; of converting their present holdings into freeholds. We are satisfied that the fears of a competition which would run up the prices of allotments to an excessive figure — especially in cases where improvements to be valued have been made — are groundless; and on the other hand, the publio may, we think, be assured that the Government will be little disposed to assent to, or recommend any measuro having the effeot of establishing a low fixed price.