MR. JENNINGS AND THE NEW ZEALAND COMPANY.

Daily Southern Cross, Volume I, Issue 29, 4 November 1843, Page 4

MR. JENNINGS AND THE NEW ZEALAND COMPANY.

• (Concluded from our last.) APPROPRIATION OF FUNDS. Uunder such a plan of distributing the land in a new settlement, it is clear that absentee proprietorship, with all its attendant evils, would be excluded ; -whilst the advantage would be secured of raising ample funds, probable a gradually increasing revenue, for the important purposes of importing labour, and the public improvement of the settlement. It may be well to enumerate purposes, to which the funds thus accruing to the A ssociation, after provision made for the fulfilment •of the stipulation with Government to apply 10s. per acre to free emigration, might be necessarily or advantageously appropriated. First, the expenses of survey and allotment of the land sections. Second, the erection of buildings for the reception. of free emigrants upon arrival, and their maintenance until they obtained employment. Third, the construction of landing places and quays, and other public works for the improvement of the town site. Fourth, the formation of roads, and the opening of country districts. Fifth, the improvement of harbours, and the erection of light-houses : and Sixth, the important object of making grants of money in further

I aid of free emigration, should the circumstances of the settlement require it. The obtaining a good supply of the best breeds of cattle of all kinds, of the best poultry, &c, and of plants, vegetables, seed--corn, &c, is a matter which should engage the earliest attention from the founders of a new settlement; the plan we suggest is that of raising a few thousand pounds (say three or five) amongst the intending colonists, by shares of £2O each, to be controlled by a committee of the most experienced, with a paid manager, selected for his knowledge and skill, who should be despatched with the preliminary expedition, to select stock from the adjacent colonies, and clear a farm in preparation for they settlers, The plan of distribution should be invariably that of public auction, the proceeds going to the shareholders, but giving all the settlers an equal opportunity of procuring the best stock. Private enterprise would go on simultaneously with the proceedings of the stock company, but keeping in view the benefit of the colony, we cannot but think great advantages would attend this plan; there are numerous persons in England who take great interest in Colonies, who are always ready to make suggestions and render assistance of the kind here needed: and an establishment such as here devised (which would be a general benefit, at the same time probably very profitable to the shareholders,) would afford such persons the best opportunity for correspondence, and the carrying out their good intentions, and be the means in all likelihood of introducing the most valuable productions, for which the settlement might be found adapted. PRICES OP TOWN LA.NDS. In fixing upon a scale of prices for town lands, and those in the vicinity, the object should be to hit upon a just medium between what would be the likely results of auction competition, and the throwing them in as a bait, or disposing of them at a low price, to attract colonists to purchase largely of country lands in the first instance, far more largely than they require for occupation, and at the same time raising no funds for public improvements, The consequence of this want of foresight in the Company's settlements must be the demand having been once glutted, that no sales of any consequence will take place probably for several years, or at least until sufficient time shall have elapsed to have brought the first sales into actual occupation, a very gradual process ; whilst, should the Company be liberal in their expenditure upon public improvements during that time, they must repay themselves by advanced prices at their future sales ; on the other hand, should it not be deemed expedient by them to exercise this liberality, the necessity will soon shew itself for heavy assessments upon the colonists. It is to be remarked that each individual purchaser will receive, under the proposed plan, a proportional benefit by the local expenditure; the rule being, that the amount of purchase represents his proportional capital and interest in the settlement; and the whole of the purchase money, excepting the small portion contributed in aid of the colonial revenue, being expended by the colonists themselves in providing labourers, and effecting local improvements. The next advantage to be considered under the arrangement would be a continuance of the benefit of first occupation, viz. the payment of only the original price to all colonists who should join the settlement during the first five years ; in other words, it would hold out the greatest possible attraction (supposing the site of the colony were well selected) for capitalists to resort to it, and so enable it to maintain a legitimate competition with other settlements.

Again, the mode of sale, by providing for a regular and gradual supply of the market at a moderate scale of prices, would, it is thought, greatly militate against the operations of the land-jobbing fraternity ; whilst it would secure one of the greatest ments for,, and advantages of colonisation to, the real colonist, that is, the improvement of his property by investment in fresh land. Minor presumed advantages of the plan need scarcely be pointed out; such as each purchaser being free to purchase the description of land that best suited his purpose, without being compelled to buy town land if he wanted only rural, or suburban, or vice versa. And also by making his purchase from the sale register, and his choice not being left to a chance, he can ensure the power of selecting adjacent and coterminous sections ; and may therefore acquire a united property, or determine the extent of his-farm at his own discretion;

By opening the sale of sections only within certain parts of the town, and not generally, at one time, as is provided, the town will probably, from the first, be built up in a better style (no unimportant matter) ; the land taken into occupation lying more compact, wliilst the unseemly appearance of irregular vacant spaces will be in a great degree avoided.