The Taranaki Herald. PUBLISHED DAILY. MONDAY, APRIL 4, 1887.

Taranaki Herald, Volume XXXVI, Issue 7338, 4 April 1887, Page 2

The Taranaki Herald. PUBLISHED DAILY. MONDAY, APRIL 4, 1887.

We understand the Minister of Lands intends next session to introduce a Bill for the acquisition of private estates for settlement purposes. The proposal at any time would natually exoite suspicion, but now, when estates in the South Island are heavily encumbered, and the mortgagees would only he »too happy to release the whole affair has a very ugly look look about it. The proposed measure actually, we understand, provides for the nationalisation of land to the fullest extent, whioh will open avenues for jobbery in all directions. If the measure passes in the form it is to be sent down to the House it will lower the credit of the colony. The, Bill gives power for Commissioners to be appointed, a new staff of officers created, and authority given to the Government to borrow unlimited cash to hand over to those who have money advanoed on unprofitable estates. Power is given to the Governor to appoint judges and officers of " Courts of Record," whioh are to be established, whose "salaries are to be fixed by the General Assembly." At a time when it is bo necessary that every pound should be saved, to introduce a measure of this kind seems preposterous, and we hope the press of the oolony. will denounce it, if on no other ground than on the score of economy. We oan now understand the rumours that have been floating about that the Government were preparing to bny up all the lands of those " who were mortgaged up to the eyes and have no prospect of freeing themselves." We should say such as these will welcome the Bill and try to 1 get the members to support it; but by anyone who has the welfare of the colony at heart it will be at once condemned. As a oontemporaty says : — " Take the present value of land as compared with the value at the date of the mortgage, and it will be found that the man who is ' mortgaged up to the eyes ' has a burden on the land, probably 50 per cent, more than it will bring in the market. How do the Government propose to deal with a landowner in this condition ? They cannot with any justioe to the man tak^tus land for less than the amount of the mortgage, and if they give him that they will be giving him more than the ]and is worth, and placing a further tax on the people to relieve those who cannot by any process, save insolvency, relieve themselves. This is the difficulty that presents itself — a diffioulty likely to prevent the Crown from acquiring lands < mortgaged up to the eyes.' There is a difference, however, between lands * mortgaged up to the eyes ' and lands that are mortgaged for amounts in reasonable keeping with their value. In resuming possession of private lands we should think that the principal objects to be considered are that prices in excess of 1 the value of lands are not given, and that owners are not unjustly dealt with in being compelled to sell at a loss to themselves." The advocates of the measures say that the bill will be the means of bursting up unutilised estates whioh now retard useful settlement and will give the deathblow to land, rings and monopolists. Rather the reverse of this will be the oase. The land rings are already pretty well burst up. Most of those who in the past have dabbled with land have had a surfeit of it, and will only be too ready torealise.as would the man who has a ten budhel to tho acre wheat stack whioh he has insured as one of thirty bushels. There is plenty of land in the oolony belonging to natives or the Crown whioh is unoccupied ; and it should be settled before the Government talk of buying back that which has already been sold. If this is a specimen of the legislation of next session we do not think the Ministry will have a long tenure of office ; and if they go to the country on the Bill, they may reckon that members opposed to a measure which has " jobbery " stamped on its face will be returned in large numbers. The shop windows of Mr. D. Jones, fruiterer, were quite a sight on Saturday, such a superior assortment of fruit being shown. One bunch o£ grapes -measured no less than eighteen inches in length. Members of the New Plymouth Amateur Operatic Dramatic Company are requested to attend a rehearsal on Wednesday evening 1 , at -half-past seven, at the Alexandra Hall.-— Advt. Colonel Trimble will addreßS his New Plymouth constituents and the publio this evening, in tho Alexandra Hall. The chair will be taken at eight o'olook. The Turanaki Rifle Volunteers parade thio evening and on Wednesday and Thursday, at 7 p.m. in placo of 6.30 p.m. Captain Edwin telegraphed at 11.40 a.m. to-day. — "Bud weather probable between north-webt and west and south. Glass further fall, but rising within twelve hours, with very heavy sea, and much polder weather'. ?r The Editor of the Wanganuj, JEferald, who attended the raoes, nays ;-*" The morning of the seoond day's raoes broke dull and gloomy, but the rain held off enough to let me get a run down to the famous breakwater, which is a most subStttotail pieco of work, of whioh the Tarajiafrt &Jko m *V we]l foel P roa <*. All I jvieh is thaf; y6 fey} Jt here." We bear that Mr. George Evangelist from Auckland , who leotured here in February last, will shortly again visit New Plymouth, on his return from the sputh, apd leoture. ,