LAND VALUES

Evening Post, Volume CXIII, Issue 81, 6 April 1932, Page 11

LAND VALUES

A REDUCTION SCHEME ' A FARMER'S PROPOSAL (By Telegraph.) -- (Speeiai to "The Evening Post.") PALMEESTON. N., This Day. : Confident; that some steps should be taken to bring about a more, equitable valuation of farm lands,, Mr. J. Lambert at yesterday's meeting. . at Marion of the Wellington Provincial Executive of the Farmers * Union advanced a proposal which he considered would bring relief to farmers-without impairing mortgagees' • interests. ) His idea" was that; the Government should take steps to have all farm lands revalued by competent..valuers; this to be followed by all first mortgages being, reduced to three : fifths of the; newvalue, the .balance to bo* funded; - and liquidated by,- principal; and ; interest payments from the;. Consolidated Fund. It was qnitoMsjear-V that ■ revaluations were necessary, and while'no effort was being made to bring about an equitable adjustment, severe losses were being incurred both' by the mortgagor and mortgagee. His • scheme. might not be perfect—no doubt it could be improved upon —but .he did seriously -'consider, that some steps should-be taken'to set moving proposals for thie revaluation of farm lands. ; The,.proposal he made he considered -would bring broad- acre mortgages back to. gilt-edge securities; it would remove the curse of wheat duties, do away with the 'necessity of control boards, and would pave the way towards a reduction in the .ratesi of interest. The meeting agreed to have the matter discussed at the forthcoming pro-' vincial conference; meanwhile Mr. Lambert is to prepare a comprehensive Teinit dealing with his. proposals: