The N.Z. Land Proposals.

Southland Times, Issue 19919, 8 September 1906, Page 2

The N.Z. Land Proposals.

WHY ROYAL ASSENT IS SPOKEN OE. Per United Press Association. By Electric Telegraph.—Copyright. SYDNEY, Sept. The Telegraph, commenting on .Mr McNnh's reply to the assertion that the (lower of foreclosure was taken away sixty years ago, says " it is a fairly large one, because sixty years ago New Zealuml, as a colony, hardly existed and had no land laws. There have been many foreclosures since (hen, and financial institutions have been loaded up with land. New Zealand, in addition to the grailualed land lax, will now give notice In quit and companies will realise and take their capital away from the colony. ll appears to us that a bank or insurance company will be debarred from advancing money to buyers, as in a time of depression a lot of properly which they could not hold might lie thrown on their hands, if a serious loss should be involved it, would he due to State ennfisratiou of the right to hold the properly paid for which hitherlo existed, ami on Ihe slrengtii of which capital was invested In the country."