THE NEW LAND POLICY.
Press Association—By Telegraph—Copyright. * • SYDNEY, September 7. (Received Sept. T, at 9.16 a.m.) Thp Telegraph, commenting on Mr M'Nab's roply, says: "The assertion that the power of' foreclosure was taken away 60 years ago is a fairly Igrgo one, because 60 years ago New.) Zen-la jtd as a colony hardly existec], a(ul had' 110 lipid lqws. There have been -.many foreclosures since then, and the financial jnstjtutions are now loaded up with land. In addition to a grqdtiftted lam) tax, t)iey will get a notjeo to quit. The. companies will probably realise ami take t|ieir- capital away from the colony. • It appears to ys that a bank or an insurance company will be debarred fyoni advancing money to buyers, as iti a time of depression a lot of property might be thrown' on their hands which they cn«k| pot hold, am) if a spi jous loss should bo involved it would bo due to State confiscation of the right which had hitherto existed to hold property they had paid for, iinfl on the strength of which' capital was invested in the country.''
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Otago Daily Times, Issue 13693, 8 September 1906, Page 9
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185THE NEW LAND POLICY. Otago Daily Times, Issue 13693, 8 September 1906, Page 9
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