SPECULATION IN LAND

Northern Advocate, 17 August 1932, Page 2

SPECULATION IN LAND

T.OBD BLEBTSLOE’S W ATINTXG. EFFECT ON TNDFGTBY. In an address to the Foyal Empire Society at Christchurch recently, the Governor-General, Lord Blcdisloo, said: “Land, as a source of wealth, ceases to fructify if it is an object of violent speculation, and practical measures for avoiding the repetition of this antisocial jirocess are worthy of the serious consideration of economists and legislators alike. “A reasonable element of speculation is the very essence of enterprising business,” His Excellency added, “but excessive speculation in the land of a settled country during periods of high prices for its produce is calculated to undermine primary industries, outweigh the economic benefits of agricultural science, and stimulate revolutionary propaganda. ’ ’ A stable country was one in which husbandry was a profitable occupation, and in which there were no violent fluctuations in land values as the result of the operations of those whoso main object was not the winning of wealth from the land, but a temporary “horizontal” profit at its expense. Before prosperity returned this problem would have to be tackled resolutely.” As exporters, let us ever bearin mind that if we mean to be sellers of our country's output to customers overseas, we must also be buyers of their products, whether those countries be situate within the British Empire, or, like China, Japan and Argentina, outside its borders,” Lord Rledisloe said. “Empire must no longer lie a mere sentiment, \vorthy though that sentiment may lie. It must be an inspiration, a motive force generating constructive energy, not only in nations, lint in every man, woman and ehild bef longing to them.”