LOOKING AHEAD

Evening Post, Volume CXVII, Issue 75, 29 March 1934, Page 8

LOOKING AHEAD

(To the Editor.) _ pfW" your issue of March-28 "Fair ■Hay" takes exception' to my proposal regarding adjustment of. land values becausem the past land has been on a policy of allowing personal gain to'control its''operations, and now look at the mess we' are' in, chiefly on this account. Moat thinking people today admit the policy, is a bad one, and having brought such dire distress to humanity it should be altered" My suggestion was for a complete alteration by revaluing land, adjusting the losses and preventing the unearned increment being again available to private speculaIf what has been done in. the past is morally wrong, and. unjust, it/ia n6 reason why the system should be perpetuated and if we are not prepared ft make and cut losses arising through oiir' mistaken policy how can we expect to get back on the road to recovery? If farmers cannot make a living on present condition* and it is impossible to raise the price* ot primary products because of the inability of the community to pay more for the goods and maintain present consumption, what else is to be done but take a step towards recovery nnd revalue land? The mortgagee in the past has been satisfied to get the interest on his mort-

gage, and no agreement wa9 requested to share in the increment, and very often when misfortune overtook mortgagors, the mortgagees closed on property worth double and more the amount of their mortgages, and made handsome profits. But all these things of the past—the bad old days—must be altered to conform to the new age, the age of machinery and plenty and less employment. No good comparing the past; we must look to the future. The economic system has broken down badly and must be reconstructed. The mill cannot grind»with the water which is passed, and both land and finance must be reconstructed if we are to save this country from collapse. With export markets closing throughout the civilised world, with heavy expenses which we cannot meet at present banking up on the £24,000,000 surplus funds in London, and increased unemployment staring us iv the face New Zealauders must look ahead, not: behind, and face the losses and distress of the old system and reorganise. New Zealand for the new era of plenteous production. . Land revaluation must be faced. The eooner the better for us all. —I am, etc., , EQUITY.