HAWKE'S BAY HERALD SATURDAY, NOVEMBER 30, 1861.

Hawke's Bay Herald, Volume 5, Issue 235, 30 November 1861, Page 2

HAWKE'S BAY HERALD SATURDAY, NOVEMBER 30, 1861.

There is, we find, some remaining misconception upon the subject of the Tikokino reserve. It is supposed, first of all, that the formality of putting the block in question up to auction was simply with the view of ascertaining its value. The true reason, however, was, — that the "Waste Lands Act, 1858," contains the following proviso in clause one : — No land after the first day of Angust, 1860, shall be sold upon credit, except Buch as it maybe lawful to set\apart for special settlement by immigrants expected to arrive. These words had, on other occasions, been held to mean that land could not be sold upon deferred payments ; but as it was felt that the settlement of the country by an agricultural class would be greatly facilitated were the Government in a position to give credit to bona Jide occupiers, the idea suggested itself of the land in question being put up to auction in the usuateway, and of the (government becoming a cash purchaserrbf the same. By this means the General Government would run no risk of losing its sixths —to guard against the possibility of which was the object of the clause in question — and the credit system could be carried out without infringement of the law. It is next supposed., we believe, that the Province sunk no money in the purchase of the Tikokino block — that the transaction was a mere form, involving no payment nor loss of any kind. This, however, is a delusion. The sum of s£ 1541 was actually paid by the Province ; and although again returned to the Treasury, it was minus dne-sizth, retained in the hands of the Receiver of Land Revenue. But, in point of fact, the Treasury is minus a much larger sum/ inasmuch as there were bona Jide biddings for the several | lots from other persons, not certainly to the full amount, but to within five j per cent., or thereabout, of the sums at which they were knocked down to the Superintendent. Had His Honor permitted the high offers of other buyers in the room to be taken, the Province would have received £1,150 in round numbers, instead of having had to pay about £25%.