LAND SPECULATION NEAR POWLETT.

Wanganui Herald, Volume XXXXV, Issue 12983, 26 January 1910, Page 4

LAND SPECULATION NEAR POWLETT.

Speaking of the new State coal mine at Powlett” Victoria, calls the fact to mind that Powlett furnishes an interesting example of the ways of the land speculator, and a convincing argument in favour of the nationalisation of the land. The Newcastle district. New South Wales, contains most of Australia’s coal supply, the coal measures of the other States being few and far between. Consequently, when there was talk of developing the rara avis at Poweltt’s Eiver, some sane Victorians urged that it should be worked by the State. The Ministry looked kindly on the idea, and at once the speculator saw hi*; chance, or rather several of him did. The land all around was bought up at a low figure,’ and as soon as the Government decided on a State Coal Mine, land values in all directions -around Powlett were rushed skyward, in fact 1000 per cent, profits were asked for and given. One cannot blame the speculator—considered purely as an individual—for doing this sort of thing when the law allows Mm. But, considered from the national point of view, it is a fool law. which makes such a thing passible, and sooner or later it will be fraught with disaster to the country which refuses to get rid of it.