HON. G. FOWLDS AND LAND VALUES.

Auckland Star, Volume XLIII, Issue 145, 18 June 1912, Page 8

HON. G. FOWLDS AND LAND VALUES.

(To the Editor.) Sir, —If it be true, which I very much doubt, that the increase in land value of £126.000,000 has gone to 22,000 families, I fail to see how an increase in land tax could take part of the £126,000.000 for Government purposes. The £126,000,000 is brought into existence because rent can be extracted from the people to pay interest on the £126,000,000; otherwise the values are fictitious. If the Government take a part of this rent, it will be clear that a smaller part of the rent goes into private pockets, and the "capitalised value" of the privilege of drawing the rent, which previously was £126,000,000, will be reduced accordingly, but the Government will not have any part of that £126,000,000. The Government will have the rent it takes, and the "private wealth" of the people would be reduced with the values being blotted out. If the values are going to 22.000 families, there, surely, are other means to make the monopolists disgorge. Could we not limit the amount of private wealth that any one family can hold, so that more rent can be forced on the market and prices paid for the privilege of drawing rent be reduced, or, at any rate, held by a greater number of people, if the £126,000,000 were not reduced?—l am, etc., A. SANFORD.