A LAND BANK.

Northern Advocate, 12 June 1931, Page 3

A LAND BANK.

j (To the Editor.) Sir,—Your correspondent “King Solomon’' advises me to rend a book written by an ex-governor of Nigeria. I am not taking bis advice, as 1 believe it, had a bad effect on his mind, and I have heard a good many jokes against the Nigerians told by sailors who k new them well. lie asks; “What, is a land bank?” Just at present it is a suggestion which is well worth considering. The idea of a State Hank which the Socialists advocate is not worth .considering. Neither is an agricultural bank, with currency based on exports. A land bank would take gold as the standard of values. As land is as necessary for human existence as anything can possibly bo, it would alwavs bo a good guarantee for notes based on its selling value. All that would be necessary would be to give an absolute freehold to farmers for a reasonably sized area. I would consider 200 acres as the limit of any person's holding without rates or 'land tax. Any excess of that area should be taxed as at present, and an absentee should also be taxed. The loss of rates and land tax could be made up by income tax on all incomes over a fixed amount. Under the present scheme of rating on land, some farmers are not paying as much as they should, while others not so well olf are paying ten times as much as they should. There are instances of farmers selling £2OOO worth of produce, per year and others only selling £l5O worth each, paying the same in rates and taxes. This is owing to some farms having been occupied for 70 years, and others 3 0 years, and sometimes less. The county councils have had 54 years to do something, but have never tried to put these matters on a just footing, and they have driven hundreds of skilful hard-working farmers off their land. The sense of justice which the pioneers displayed when they took up council work has almost disappeared at the present time. Why should we suffer them longer? No fanner under the present system can offer safe security to money-lending concerns, as ho has not any idea of what his rates are going to be. Get this risk removed, and establish a land bank as suggested, and a farmer could get money at 24 per cent. This would release £80,000,1)00, which could bo sent back to the j lenders with Mr Forbes's thanks. Tj am, etc., TOILER.