GOODWILL OF LEASEHOLDS.

Timaru Herald, Volume XIIIC, Issue 14237, 1 July 1910, Page 3

GOODWILL OF LEASEHOLDS.

To the Editor of the "Timnru Herald." Sir, —1 was bent oil taking up the cudgels oil behalf of the .holders of ! Crown leaseholds, when the ground—tor all contentious to the contrary was clean cut away by that terse compilation. of the sellers' rights contained in "Ji's" letter of the 17th. 1 personally knew from experience, and personal knowledge of others loss through the inability (or otherwise) of the official valuers to conceive the value of work put into holdings, and the very material improvement to the holdings as a consequence. Then it is often the case that- the beneficial effect and influence of much of ous's labour are not confined within the boundary fences of the holding upon which the labour and expense actually takes place, liow often do we hear tho expression-—"Oh yes, so-and-so is doing all right, ho is reaping the benefit of his predecessor's labours," etc., even when the said predecessor entered upon the farm or holding when it was in an ordinary improved condition, whereas for the ."nost part tho Crown holdings are far from being so. In fact, ninny are grossly unimproved—i.e. land foul with weeds, etc. —to'clear which, and fetch the land back to an efficient state of culture means labour equal to the original capital value, and on an ordinary block of 200 or 300 acres of land, how far does a pound or two per acre go, 10, , wards cost of building; fencing, etc? ' Yet if by chance a man entered upon tho tenancy of say 200 acres, at a capital value of £5 per acre, and in tho course of a few years sells out at a value representing double the original value, what an outcry! And from whom? Not those of experience, or capable of judging the value o-f a ' farmer's labours, forethought and. judgment, begotten of years perhaps of bitter experience. ~ How often do we hear it remarked of a stranger who has, say, bought a freehold —'"just wait a year or tuo and •see if ho'll think so highly of lus purchase." And what docs that year or two xeveal ? Why, our new l'riond lias quite i revolutionized things generally in the -<L : sfcrict —introduced new methods, different kinds of stock, etc., with the ret suit tkp.t the output of the district, pro"Auction Oi the land, has been materially increased, wifcli a corresponding increase in the value of the land, notwithstanding that not a penny has actually been spent on the land itself. ho, I would like to know, does this "unearned increment" as some of our foends would be pleased to call it, belong to? That is just what has happened ill the case of so many leaseholds. And noW sir, just a word or two with regard W the attitude ta"ken up by those agitators who ar-e ever so ready to advise what should be done with other people's business, property, or leases, so long as they aro safe themselves. If they hold a L.I.P. they advocate the compulsory taking of the lreehold; if they hold a perpetual lease, they maintain the Government made a mistake in granting the L.1.1'., and, should revoke such leases; or as regards the pastoral leases, "certainly they should be subdivided. Why should one man liokl a track of Crown country that is capable of maintaining at least two families?" and so forth, when at the same time such agitators hold perpetual or rene-waMe lease blocks of land equally capable of maintaining several families. Yet, "Oh, no, jHich leases should not be broken," "such rf breach of faith or contract by the Government." Horrors ! Yet sir, is net the granting of the freehold a contract of greater good faith and moment? Yes sir, and if it is expedient for the well-being of the community that the Gov<?mmerit take one's freehold, it is the more so that it devises the means to treat in a like manner with land of its own, that, by force of circumstance, in nowise due to the holder, has _ become of sufficient worth to maintain several families, and not merelv that, but nroduee of greater value. These are the first the Government should pay attention to.— I am, etc., NOT A FREEHOLDER.