DEFERRED PAYMENTS LAND.

Hawera & Normanby Star, Volume I, Issue 16, 5 June 1880, Page 4

DEFERRED PAYMENTS LAND.

TO Till: HDIT^-E IV Tlf ,~AR.

Sir, — When a newspaper correspondent replies to a letter, the usual custom .is to read the previous correspondent's letter, and reply to what is stated in the communication referred to ; but the gentleman who signs himself " Another Old Colonist," in your issue of 26th May, does not appear to have read what he professes to reply to. Had he perused my letters carefully, he could not have failed to observe that the writer does not complain of criticisms on the letters or subjects contained, but in his second letter comments on the conduct of a gentleman who, instead of replying to the letter through your columns, or commenting on it in the usual way, went about imputing wrong motives to the writer, by telling persons that the letter was written to cause a scare.

Again, not having read my letter carefully, he jumps to the conclusion that the writer objects to the £2 and .£1 upset prices on land. The writer made no objection to the upset prices, were they fixed prices, but protests against the system of putting bush land up to auction, and encouraging persons to give more than it is worth, and says as follows :—": — " For forest lands the terms of payment are too short, and persons are allowed to cut each other's throats by bidding more for the land than it can yield interest on prices paid." If I recollect lightly, some of the rough Whakamara deferred payment land went as high as ci 10 and .£ls per acre. The object of selling land on deferred payment is to assist people of limited means to acqaire land. How can persons of limited means hope to pay for land under such a system, and at such prices, when the terms of payment even are not liberal 'i

" Another Old Colonist" then goes on to instance a new deferred-pay-ment system, by which he says persons pay <i; 2 per acre, by half-yearly instalments of i.lO, paid" in advance, and states that by this system persons get 100 acres at the end of ten years for .£200; but he forgets all about interest on half-yearly payment, that would be lost by purchaser, and would add another ..~'loo to the cost of his land. Then he cays that I propose persons should pay 1 per cent., and by some new, aud peculiar rule of arithmetic, calculates that 4 per cent, per annum on <£*200 conies to .£I OO at the end of ten years. This is another blunder he has made by not reading my letter carefully, as I distinctly stated 5 per cent., not 4 per cent. I might have failed to notice these omissions and miscalculations of interest, but fortunately was present at the Hawera Resident Magistrate's Court a short time ago when a learned solicitor, through one of his witnesses, gave all persons present a most valuable and exhaustive lesson on percentage and interest on every conceivable amount. Had "Another Old Colonist" been there he could not have forgotten that valuable lesson, and would not have made the omissions and mistakes on interest calculations contained in his letter.

The propositions contained in my letters, were simply to sell forest lands at moderate prices, on liberal deferred payments, to induce its occupation by a large population ; thereby to crush out the native difficulty, and increase our own prosperity. This "Another Old Colonist" characterises as a wild scheme beyond his understanding. After reading his letter, it is easy to understand any new scheme, anything out of the old groove being quite beyond his comprehension.

" Another Old Colonist " concludes with a few remarks on scares. On this subject I quite agree with him. I cannot remember the incident he refers to during the Hawera war of ploughmen, and in identifying " Old Colonist" (as the person who kept sentry the night he was scared into blowing out his light) he is again in error. But I can sympathise with him, as I remember a gentleman whose nervous irritability afforded amusement to some of our young volunteera. They delighted in what they termed poking fun, by detailing most alarming rumors of native movements. I used often to remonstrate with them on the wickedness of worrying nervous persons ; but volunteers are very inconsiderate in excitable times, and ,1 have no .dp'iibt, judging

from his letter, that "Another Old Colonist " was quite as much worried as the gentleman I refer to. — I am, &c, Old Colonist.