THE NATIONAL ENDOWMENT.
When tlie leaseliokl interest held power in Parliament a statute was passed permanently setting aside nine million acres of Crown lands as an endowment for education and old age pension!;. An amendment of the land law in 1920 changed the policy, enabling the freehold of these endowments to be alienated and the money applied for the pui-chaso of further lands." The annual report on the national endowment shows that 18, 051 aorea have boon, sold, including 3073 acres last year, the total receipts beiug
£12,944. The report suggests that the present financial position accounts for the small number of lessees who desire to acquire the freehold. There are nearly seven million acres leased at an annual revenue of: £139,637, while 1,690,----000 acres have been set aside as provisional State forests. No laud has yet been purchased out of the land sales' fund.
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https://paperspast.natlib.govt.nz/newspapers/EP19230719.2.77.8
Bibliographic details
Evening Post, Volume CVI, Issue 16, 19 July 1923, Page 7
Word Count
145THE NATIONAL ENDOWMENT. Evening Post, Volume CVI, Issue 16, 19 July 1923, Page 7
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