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Grey River Argus, Volume 21, Issue 3057, 3 June 1878, Page 2

One of the effects of the Lands Bill of last session was an increase in the upset price of all lands, the price of which had been less than L 2 per acre, and it was feared that this increase would seriously affect the land revenue by checking purchase ; but it is satisfactory to learn that such is not the case, and that the Government estimate for the last six months will be realised. We learn from a Wellington contemporary that the land revenne received up to the 28th May was L 1,415,982,, 415, 982, and it is estimated that between this time and the end of the financial year (June 30) another L 170,000 will be realised. This gives a total in revenue of L 1,685,982, a sura considerably in excess of the estimated amount. The Government anticipate receiving for tho half-year ending 30th June the full L 550,000 estimated by Sir George Grey, so that there will be no deficiency in this source of revenue. The operation of the Waste Lands Sales Act has not apparently checked the sale of Crown lands to the extent which had been anticipated, for a very large proportion of the total revenue has been received from those districts which it was feared the Act would most affect. In Canterbury, where the Act made no difference in the price of the land, the sales for the last half-year have been very small as compared with the first six months of the financial year. This has been caused by the fact that in Canterbury, during the last two or three years, enormous purchases have been made of the best available land, and the supply is now confined to land which is situated far back. On the other hand, there have been considerable sales in some parts of the North Island, anfl notably at Poverty Bay, in which latter instance very high prices were realised.