Dunedin Improvements.

Bruce Herald, Volume IX, Issue 893, 30 March 1877, Page 6

Dunedin Improvements.

; — ♦ While a good deal is beard about the dearth of money in the Province, and it is undoubtedly the case that the want is experienced by small traders in various parts of it, a visitor to the metropolis cannot, after a brief absence, but be struck with tbe great improvements which are going on. In George Street, in an especial degree, is tbe change takiDg place— a street of shanties some years ago, it is now graced by numerous fine buildings on each side, aud is being more improved ana adorned every day. On the several streets on the reclaimed land improvements are also going on rapidly : fine buildings running up in every direction. In tbe retired parts of the city and in the suburbs, tbe same change for the better is very striking — some handsome piivate residences and numerous cottages of a superior description having been erected, and numerous others are in course of being built. The mania for speculation in sections is certainly not what it was a few years ago, the demand having been pretty well satisfied, aud people caring less to discount the future ; but, on the other hand, tbe number of buildings lately erected, and in course of erection are evidences of substantial progress, representing even in cases where the aid ot the building society or private lender had been sought, money saved and invested in the surest and safest form, to wit, land and buildings. Property, it is now generally seen, will not decrease its value to any material extent, even in the dullest times. Money in England is going begging for investment ; to a lesser extent, the same stite of things prevails in tbe Australian Colonies. Through the medium of tbe Banks, the large mercantile loan and land investing societies, and by wealthy individuals in England and tbe other colonies, large sums of money find their way into the province ; and not only is the tendency thus created to equalise tbe»rates of interest in different countries, but tbe value of property even in dullest times is maintained. Of one thing we may be positively certain, and that is, that land will never again come down materially in value Besides, people have learned from past

experience, aud wheu depression comes will not be unprepared to tide it over. *