LAND SPECULATION AND LAND NATIONALISATION.

Waikato Times, Volume XXXVII, Issue 3021, 24 November 1891, Page 3

LAND SPECULATION AND LAND NATIONALISATION.

TO THE KDITOIi. Sin,—Many writers, at tliu prevnt time, I'iiisnii great cry ag-.iiii.it land n:itii>m!i.<Mtion, and pathetically nppoal to the fanners to " nppo-t) ti» their titnidit ii scheme which would drive the fanner* oIT thoir land." Would land nationalisation ruin the fanners and (Jrivo thum ulf their hind? I can prove that tho contrary would be the case. Wo will suppose that, undor our present (.y.steiii, u speculator buys iv block of land of, say, 100 acres iit J£i per aero. Through an influx, of population ho shortly afterward* sells it to a fanner at £S per acre. He cleared i'fiOO through tho transaction, but did Im benefit anyono but himself, and did ho render an equivalent for tho £()00 that ho received ? Let us .suppose the fanner had £1,200 tu commence with. Hβ paid £800 fur the land which loaves £100. After building a liouso and otherwise improving his land, he finds ho is nut of money and ho ho mortgages his property at a heavy rate of interest and we will leave him. On thnr other hand, under tho nationalisation lystom ; suppose the same farmer, with his £11200, took up the 100 acres of land from the (ioverument on perpetual lease, at tho name value the .speculator bought it .it, viz £2 an aero. A rent of 5 per cent interest on tho value of the land would amount to only L'lo per annum, and he would have his £1200 left to farm with. Uuder which of the two above system would the farmer bo the hotter off. The speculator enjoys the presents situation immensely, no doubt. He appoints an ngont here to look after the sale of his lands nnd collect tho interest on the money he has lot out on mortgage, while he takes a trip "Home," ostensibly on business but in reality to enjoy himself and make a continental tour. On the other hand tho farmer from whom he obtained the Co'OO soeasily;is in reality his slave. Probably it cost tho farmer the toil of half his lifo-time to raise the £600 which the speculator obtained from him with out any work whatever. In support of the present system siiino local writers say : Look at tho large estates in Waikuto. What would Hamilton have been but for them ? The above questions are put as regular posers in support of the present speculation system, but in reality there is nothing in them. The owners of moat of the large estates in Waikato no dosbt bought tho land for speculative purpose?, hoiiing when population increased to sell it at, a histli lijtnru. They have entered largely into the really legitimate business of farming thi-ir lands on a large ecale, which has provided employment fur n large number of men, thereby greatly benefiting tho adjoining townships. But is it as land speculators, or as large fanners that they have benefited tlin comnuuity '! It is as tho latter, and they could luvo d.mo "11 Ihn good they have had they cakon tho land from tho state on perpetual lease under tlm nationalisation system. Some .say that under the land nati.iiiaiisationsystem, "capital woulJ bo driven from thoooiintry." Capital would not be shut out from investment in legitimate trade, but the land trader, if he desired to continue ill that business would have to as somebody said " seek pastures now" whern there are pigeons tint could bo plucked, In proportion to tho amount of cipitiil tli.it would bo driven away, the necessity for largo capital to tho fanner would decrease na he would then be able to obtain his land on perpetual lease (with fecurity equal I o freehold) direct fnnn the State without the addition of tho immense profits often obtained by tho speculating middle-man. — V'ours, &c, Radical I<'aiuieu.