PRE-EMPTIVE RIGHTS.

Lyttelton Times, Volume XXV, Issue 1633, 10 March 1866, Page 2

PRE-EMPTIVE RIGHTS.

TO THB EDITOR OP THE LTTTEMON TlMfflß. Sir,—A short time ago, the Press informed its readers, in a local paragraph, that as one of the results of my proposal to alter the Land Regulations, capital intended to have been invested in the purchase of land had been withdrawn ; but, beyond this gene • ral statement, no other reasons for the alleged withdrawal of capital were given. Let me, as a set-off to the allegation in the Press, give your readers the result of the operation of the present Land Regulations during the months of January and February last, and the few days which have already elapsed of the present month. In January the laud sales covered 3195 acres. In February „ „ 6835 „ In March „ „ 1838 „ Making a total of ... 11,868 acres. Yielding to the revenue £23,736. During the same period the amount of land granted for pre-emp-tive rights realised ...4971 acres Or within a small amount one-half of the quantity actually sold. With the exception of two 50-acre blocks thus granted by way of pre-emptive right (one for a " house built of wood," of the alleged value of £50, and one for a " five-sod wall round a paddock for yarding sheep, of the alleged value of £50), the whole of the above pre-emptives have been granted in respect of wire fencing. On the first of this month, two homestead pre-emptive rights, one of 246 acres, the other of 190 acres, being a total of 436 acres, were challenged. The owners of these rights have declared their intention to purchase, so as to defeat the challenges. If the challenges were not defeated, the Government would receive £872 by way of revenue. By the defeat of the challenge they will receive only £80, inasmuch as the owners of these pre-emptive rights can each defeat his challenge by purchasing twenty acres, and is under no obligation to purchase the whole. If any person feels disposed to trace the operation of the regulations backward, beyond the first of January last, he will have the pleasure of finding how gradually the above abuse has been growing in strength, and he may come to the conclusion, that there are causes in operation, besides my land views, to deter the attempt at investing money in the purchase of land in this province. Yours, &c, W. T. L. TRAVERS. Christchurch, March 9,1866.