YOUNG NEW ZEALAND

Evening Post, Volume CVII, Issue 146, 21 June 1924, Page 8

YOUNG NEW ZEALAND

A NEW POLITICAL PARTY

PLANKS IN ITS PLATFORM.

"The Post" has received a copy of a manifesto outlining the platform of what ;is described as a "Young New Zealand Party." The document is as follows : —■ :'".'.'....!;„..! land. A brief survey of the existing conditions and future outlook indicates that owing to a system of land speculation and booming of values—in fact, an era of gambling-;—the price of land in New .Zealand is far above its actual producing value to-day. Excessive prices for our primary products—created purely by world-wide wars and their aftermath of disorganisation—must very soon pass away. Our recognised markets will al.se/; in the near future, be assailed by other countries capable of producing the same products as we depend upon, at much less cost than we can. It would bs no less than criminal folly to ignore thti ominous nature of what is ahead. The clearly evident facts present themselves, and' must be recognised as a matter of simple common-sense. T.TII---•]o«'-measures of the most definite and far-reaching nature are quickly brought into 'existence, there is coming, just as Finely as riiaht follows day, an era of acute and widespread misfortune, causing misery and ruin to thousands of our people. In order to deal effectively •with such a position it is necessary to use the utmost endeavour to ensure that such „a position in our country cannot K»fiin arise, consequently the following measures are so designed:—

1. y\II lands miite irrespective of ownership, used for agricultural or pastoral purposes throughout the whole of V:c, Dominion, to be valued by the State on their producing value, to be based on the -"sheep value" of all

lands as in old pasture, or if uncultivated in native grass. Old pastures to mean grass at least in its fourth year. "Sheep value1 to be ascertained by securing' the average value of averaga sheep suitable for the particular class of land upon which they would be depastured. The actual average value to be calculated by taking the three worst individual years in the past thirty years and finding the average of same. One-third of the gross average of such sheep value to be the proportion assessed as land value 2. Such value to be the permanent value of such land.

3. The holder of any land whether leasehold or freehold to be entitled to the actual value, determined in every case by State valuation, of any substantial improvements over and above reasonable residence and necessary outbuildings in tho case of any sale or transfer of such land. In no other sense; however, shall the owner of land dispose of same at any excess on the actual figure in his State certificate of value. Neither shall he lease any land at exceeding 5 per cent, per annum on the figure in any certificate of value. 4. State certificate of value to be given to all landholders, whether leasehold or freehold, and such certificate to be the only legal evidence of value fo.- any purpose whatsoever. 5. Where land is held under lease tw> copies of State valuation certificates to be made—one for the owner of the land and the other for the tenant—one to be marked "owner" and the other "lessee," and the paper to be of separate colours. This to provide that should the owner sell or mortgage the land referred to in this State certificate of value it will not in any way affect the tenant.'

6. On the back of owners' certificates of value provision to be made for recording any loan or any repayment of loan having reference to the tana's described in such certificates. Iho signatures of the borrower and lender and the attaching of stamp duty value (ss), together with its cancellation . and endoisement by any Government postmaster to" constitute full legality oE transaction as if such certificate so completed were a completed document of mortgage. ■ 7. Uniformity of terms of mortgages to be adopted and printed copies supplied by any postmaster at actual cost of same to borrower and lender.

8. No loan upon land of any kind | whatsoever to be legal or recoverable at law unless such transaction is completed, as prescribed, on the back of the State valuation certificate. The State valuation certificate to be ac- ' copted in all cases as if the terms, covenants, etc., of the printed form of i mortgage were set out at length upon the certificate. 9. Ary valuation or assessment for taxation or ratine; purposes to be on the value set out in the State certificate. The rate in the £ to be increased or lowered, as may be required, but the State valuation to stand in' all cases, and no alteration of such value'to be permissible under fciiy circumstances whatsoever. STATE GUARANTEE. 10. The State to guarantee 90 per cent, of all money advanced on land in conformity with prescribed method of recording same, provided that the rate of interest payable by the borrower on such advances does not exceed 5 per cent, per annum. 11. No land to be disposed of at more than the figure set out in State certificate of value, and no land to be leased at a rental exceeding' 5 per cent, per annum on the amount set out in the State certificate. (See also Clause 21). 12. Goodwill to be strictly forbidden in regard to any transaction embracing land. The only permissible advance in price being in the case of substantial additional improvements as set out in Clause 3. 13. Severe punishment and imprisonment with hard labour for any deliberate attempt to thwart the action of Clauses 10, 11. and 12.

14. Where the State valuation is less than the amount still owing, and secured by mortgage upon any lands previous to the operation of these measures, the excess amount to be borne equally by the State and the mortgagee. . The aggregate basis of calculating this adjustment of mortgages must not in any case exceed twice the sum of the State valuation—i.e., 'assuming the State valuation of a certain area of land makes the value to be £3 per acre, where the price, agreed to he paid aggregated £10 per acre, and the occupier has paid only £3 per acre, and is mortgaged for £7 per acre—the calculation must thus be upon £6 per acre, not £10. The State would contribute £1 10s and the mortgagee £1 10s in each case. The occupier would be mortgaged for £3 only per acre, which would be recorded in his State valuation certificate at 5 per cent., for which the State would stand guarantor to the mortgagee up to 90 per cent, thereof. The occupier, on a 5 per cent, basis, would thus pay 3s per annum per acre by way of interest, instead of 7s on a 5 per cent, bisis. 15. The liability undertaken by the State to be provided for by a special Bank note issue, which notes would be legal tender within the Dominion only. 16. In all cases where land is held on lease, whether from the State or a private owner, the State certificate of all such holdings must have an endorsement signed by lessor and lessee, and bear 5s stamp duty cancelled by any Government post office—showing that such lands are held under lease,, for what term, and also the exact rental. No condition to be attached in any way which in its result provides that any more than .5 per cent, in the aggregate per annum shall be payable by the lessee to the lessor on the value, as set out in the State certificate. 17. The State to appoint a special board of capable examiners, who shall carefully examine and appoint the necessary valuators to efficiently perform the work of State valuation in accordance with the spirit and provisions of ■these measures.

RESUMPTION OF LAND,

18. Wherever land is held in areas cT such magnitude as to hinder those rcquiriing land from obtaining it, the State may resume at the State valuation, all or any of such areas in excess c': what shall be regarded by a special board (of local residents) as equitably should be held by the owners of any such areas. Such a board to be elected on the vote of the people as for a General Election, excepting that there shall be one board for every two counties. There shall be two members elected 'to represent. each county, and the Commissioner of Crown Lands shall be chairman of such board. All persons resident in the prescribed areas ever twenty-one years of age to be entitled to vote at such elections.

19. The owners of any such areas, however, to have the right to lease such lauds, in such areas as the board may determine, at an annual rental r;ot exceeding 5 per cent, per year on (be State valuation. The terms and conditions of such leases to be the same as embodied in the Government renewable lease.

20. State certifiales of value and occupancy as leases from the owners having to be given in the case of ea.tb settler, and in such cases the terns rind provisions of the Government renewable lease to be deemed to be included in the transactions as if same nere therein set out at length—can-

cellation by Post Office at 5s stamp duty and the endorsement of lessor, lesee, and j I'ost Office to render the State certificate a complete legal document as if all the provisions of the Government re-, newable lease were exhibited thereon. A' printed copy of the terms, clauses, and covenants of the Government renewable lease to be handed to the lessor and lessee at cost price of same; and 21. It to be strictly illegal to burden any land by mortgage beyond the value set out in any State certificate of value. TAXATION. (a) To maintain the principle of the income tax, but not to allow rebate on super incomes. (b) To revise the system of company taxation, so as to render same equitable as regards shareholders, and to ensure | that same will not in its effects be a uog oil industry and enterprise. . (c) To reduce taxation as far as possible on articles of general consumption. Note.—The aggregate sum of money required annually for taxation raus't increase as the requirements of the nation increase. The land policy is designed so that the people may be in the position of being able in the national sense to pay their way in the form of necessary taxes. Meantime [ too much money has to be paid in the shape of interest, and the' people are becoming unable to meet the demands (of necessary taxation as a simple national consequence. A great proportion of the present value of land is distinctly mythical, . and the people are to-day compelled to pay out, as interest on mortgages, money for which' there is no return, and there is thus a heavy clog on national welfare and progress. Money paid by Way of taxtion for improved conditions, such as adequate roads, railways, and " other services, does, by reason of these improved conditions of service, give a sensible return to the taxpayer for such expenditure.