HIGH LAND VALUES

Taranaki Daily News, 12 August 1932, Page 12

HIGH LAND VALUES

QUESTION OF REDUCTION. TOO MUCH NOT ADVISABLE. Special reference .to land values was made by Mr. W- J* Polson, MJ?., during his address to the Midhirst branch of the Farmers’ Union last night, when he stressed the danger that might be attendant upon drastic deflation of land values. “The ■ clamour has been raised that land values are too high and .that we will not succeed in New Zealand until we reduce those values,” Mr. Polson said. He characterised the cry as sheer nonsense and said it would be just as reasonable to say that New Zealand’s troubles had arisen because of the enormous fall in values. Development in New Zealand had been largely due to land values, and depressed values were just as unfair as boom ones. He showed by a chart divided into, three divisions for first, second and third-class land w hat would happen to second and third-class lands if the values of New Zealand lands continued.to fall. Under such conditions half the country would go back to wilderness. To reduce land values would be to arrest progress, stop development and ruin the community. The country had already fallen too.far. Mr. Polson’s experience had been that where land values were highest the nations were most prosperous. Sweden, had less unemployment than any other country in the world and the highest land values. Mr. Polson supported his contention with a chart used by the Hon. A. Hamilton, with whom Mr. Polson was associated at a meeting at Dannevirke lasts week. The chart showed that as tlie value of first-class land fell so did that of second-class land fall and disappear from the production field, while thirdclass land went completely off the picture. He made it clear that the chart was merely an illustration of his point and that the figures could not be taken literally.