WITH WHICH INCORPORATED THE SOUTHERN KBECURY.' SATURDAY, Bth JULY, 1882.

Otago Witness, Issue 1598, 8 July 1882, Page 17

WITH WHICH INCORPORATED THE SOUTHERN KBECURY.' SATURDAY, 8th JULY, 1882.

Th;b Land Acb Amendment Bill is now in our possession,, and as a summary of its provisions appear elsewhere in our columns', we shall for the present deal with its principles rather than with its details. The most important park qf it is that which, introduces the principle qf leasing agricultural lands for twentyone years, with perpetual right of renewal on certain conditions as regards revision of rental at the end of >each terra, which seem fair enough. The rental for the first; term is to be fixed at 5 per cent, per annum on a value to be decided by private tender, ballot being resorted to between the highest tenderers in cases where two .or more tenders are of equal amount. It is manifestly not the intention of the framer of the bill that all sales of land should cease, and that this mode of leasing should become the only mode of disposing of the Grown lauds of the Colony, as Mr Stout and tho apostles of the " unearned increment " theory would desire. This is clearly shown by clauses 48 to 52 of the bill, which authorise the selling of educational reserves under the providifins of the Laud Act of 1877, a power which has long been sought in vain by our Education Commissioners. Bub there are large areas on the goldfields which cannot safely be alienated by sale, but which could be leased with conditions of resumption in case they were required for gold-mining or other purposes, as provided by clause 26 of the bill. To such lands as these the new system would he specially applicable, and itisonly within areas specially proclaimed that it will become applicable at all. We are ready to admit that oa these grounds the thing is worth a trial. If, however, it is meant ia any degree to be a tentative step towards msiking the leasing system tliß rule and not the exception, we do not believe it will be successful, As Mr Conn ell pointed .out last week in our columns, it is the absolute ownership of the land which is so ardently desired by the great majority of those who take up agricultural land, whether by agricultural leaso or on the deferred-payment system. The experience of the Education Reserves Commissioners in Otago has been entirely opposed to the leasing system. Such blocks of land as those at "Waikaia, for example, cannot, it seems, be advantageously let, though they could readily bo sold ab a comparatively high figure, partly for cash, and partly on deferred payments. 1

Thk two parts of the Land. Bill to which we have yet to refer are the provisions concerning deferred- payment lessees, and the alterations in future pastoral tenure. When a deferred-payment settler has been in occupation for three years, having fulfilled all the conditions of his occupancy, he may, if ho chooses, reliovn himaolf of one-half his annual payments on sui rendering his right of purchase. The price he agreed to pay for tho land is still to bo the basis of the agreement, but instead of paying 10 per cent, of the price every yw ? and receiving

his Crovrn grant at the end of 10 years, he can exchange for a lease under the bill, and pay 5 per cent, for 21 years, only his improvements being proteoted, and the fee simple of the land remaining in the possession of the Grown. He may get a renewal at the end of 21 years at a revised rental, but not the precious Crown grant, so dear to the bucolic mind. His lease will date from ,the time of his original purchase, and all that he has paid will go in part payment of an annual rental calculated at 5 per cent, on the purchase-money. If he has paid £5 an acre he will henceforward pay fiye shillings per acre per annum instead of ten shillings, and so on. Assuming him to have been exactly three years in occupation when" he exchanges for & lease, he will have no rent to pay, for three years, having paid double rent for the preceding three years. This, no doubt, would be a great relief to struggling men, but still we doubt whether the temptation will be great enough to induce many to abandon the coveted Crown grant. This avoids tampering with the price, on the ground that the occupier finds that he has given more than he can Well afford, and so far maintains' the integrity of the deferred-payment system. In this the bill differa entirely from Sir Georgb Grey's Belief Bill, "which proposes to confer on a Court of Commissioners the power to fix a fair price for the land and to tear up the original contract. Mr Eolleston's proposal is less likely to be subversive of the deferredpayment system, but we very muoh doubt whether it will satisfy the aggrieved settlers in Otago, who feel that they*have paid too muoh, but still wish to secure the absolute ownership of the land. As regards pasteral tenures* the bill is not retrospective, but provides that in future all pre-emptive rights are to be done away with beyond a homestead pre-emptive of 1 80 acres, and licenses may, be for 14 years, with compensation for im--provementa as previously provided by clauses 115 to 117 of <'The Land Act, 1877." There is nothing in the bill with regard to improvements on the runs the licenses .of which have recently been renewed. • It is possible a clause might be accepted by the House permitting the existing qualified pre-emptive right to be exchanged for a valuation for imprbveinents, and that would iairly meet the case ; but no such proposal has been made by the Government.