THE LAND GRAB.

Taranaki Daily News, 24 October 1919, Page 5

THE LAND GRAB.

SPECULATIVE COMBINATIONS. TOO ASTUTE FOR THE GOVERNMENT. Tlie reference in the animal report of the Agricultural Department to exceptionally high values of land in tlie North Island, and the gambling in this respect, was referred to a number of Auckland people closely connected with land interests by the Star, and, while tie excessive speculation is condemned, there appears to be some difficulty in drawing a line of demarcation between the price than can be termed excessive and one that can be said to be strictly within the bounds of reason. Much depends on the land, and a great deal also on the man. "SO-CALLED PATRIOT." That there is a great deal of undue speculation, however, appears to be the common opinion, though it is by no means universally condemned, and there are some who hold that, within reason, it is a good thing, in that it is the means of putting ,larga blocks of land on the market in more or less small allotments. Which would not otherwise be within tlie reach of the smaller mail. In other quarters, however, the speculation is condemned in language that is at once forcible and to the point. Said one gentleman: "There are many so-called patriots who have grown fat on land speculation during the past few years by buying large areas of native lands and disposing of them to the Government at three or four times their true value. These areas should have been acquired by the Government direct from the Natives years ago, but the speculative combinations have been too astute or too strong for the Government of the day. Large areas that should have been available for legitimate settlement have to-day to carry loads for roading and inflated values put on by the speculators, that, in a few years', time, must rebound against the individual who has to make his living from the soil. The returned soldier fought this war, and by his endeavors and sacrifices made the title to the land secure for these vampires— I can call them nothing else." MANY INSTANCES. "There are many instances in Auckland" said another speaker of inflation in land values, due undoubtedly to the speculative element in the community. Tlie speculators have been shrewd enough to get ahead of the vendors in remote districts who have not liad the advantage of the wider scope of the former. Moreover, by their command of better resources they are possibly able to offer the block in subdivided lots on easy terms at a considerably advanced figure. When j'ou come to farming land, its value, is really only what tlie land can produce." There were some blocks, however, continued the speaker, that were selling within the environments of tlie suburbs of our city in farming areas at prices altogether beyond their productive value from a farming point of view. At the same time, land in the more fertile districts had been selling at similar prices, but these prices were warranted because the land was capable of producing good interest on the outlay as a farming proposition. A CASE IN POINT. A case was quoted of a fertile district in the Auckland Province were 500 acres were for sale at £75 per acre. This price might appear excessive, but the land was carrying 250 cows, which, at an average of £2O per year per cow, would bring a return of £5,000 per annuuni, in addition to returns for calves and pigs. Allowing 6 per cent, on the outlay, this was a good proposition. It amounted to this, that a man who could get good land at a reasonable price, providing that he was assured of a carrying capaoity that would give him a reasonable return, was assured for life, but the man who got on to indifferent land would in all probability be a poor man all his life. Gogd land made a man, and poor land kept him poor. The speaker thought a warning should be given to people going on to poor land with the idea of engaging in fruit farming, unless a comprehensive scheme is brought in by the Government for providing cool stores and facilities for the handling of fruit. At the same time, he did not agree with the idea of calling a halt in speculation in land, as in • many instances tlie big man gave an opportunity to the. small man of getting VMißg -&s tog