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REPORT OF THE CHAIRMAN OF THE DOMINION REVALUATION BOARD.

THE DISCHARGED SOLDIERS SETTLEMENT AMENDMENT ACT, 1923. Revaluation of Soldier Farms. The personnel of the JDominion Revaluation Board set up to deal with the revaluation of soldier farms and cognate matters in relation thereto is as follows : Messrs. J. B. Thompson, Under-Secretary for Lands (Chairman) ; R. A. Rodger ; J. Gordon ; and J. H. Richardson, C.M.G. Mr. F. W. Flanagan, the late Valuer-General, retired from the Board in January, 1926, and his place was taken by Mr. T. Brook, his successor in office. As indicated ill. last year's report, the Dominion Revaluation Board had then practically completed its investigation of the matters relegated to it under the Discharged Soldiers Settlement Amendment Act, 1923.. It did not necessarily follow that the original decisions of the Dominion Revaluation Board were a final and satisfactory solution of all the troubles connected with the settlement of soldier settlers on the land. It can be readily understood that in the varied classes of lands dealt with by the Board there were other factors than that of value which vitally affected the operations of the settlers. In the case of settlement lands it was often found that subdivision had been too close, and it was only possible to satisfactorily adjust matters by increasing the area of respective holdings. By making recommendations to the Land Boards quite a number of settlers have been granted additional areas from vacated lands, while others have obtained by transfer the title to adjoining sections. This is not aggregation in the ordinary sense, but special action necessary to place settlers on an economic footing. In certain swamp areas it has been necessary to grant relief from rent until such time as the land consolidated through drainage and became productive. Partially developed bush, pumice, and gum lands have been given special consideration, and the settlers on same have had every encouragement. Settlers on lands infested with blackberry have been given concessions which may be looked on in the light of a subsidy on their personal efforts and expenditure towards keeping this pest in check. Original determinations regarding leasehold values or capital charges have been reviewed in many cases, and, in the light of further reports and information, the Board has varied its former decision and extended such relief as the merits of each case demanded. Shortly stated, the Board has right through its operations endeavoured to size up the possibilities of each holding, and through adjustment of value every settler has been given the chance of making good. The Board has continued its efforts 'in the case of mortgages subsequent to the Crown's. It has endeavoured to have them voluntarily discharged in cases where no equity existed, and whete that course could not be adopted has negotiated for the purchase of same in line with the margin of security. THE DISCHARGED SOLDIERS SETTLEMENT AMENDMENT ACT, 1924. The Dominion Board is now investigating Current Accounts under the provisions of the Discharged Soldiers Settlement Amendment Act, 1924, and it has been very gratifying to the Board to see by this means the effect of its decisions under, the Amendment Act, 1923. It is very evident from the financial position as disclosed in the reports now coming before the Board that the soldier settlers generally have been placed in a position enabling them to make good. The great majority are now in a solvent position, and are meeting their obligations to the Department as they fall due. The opportunity is now being taken of clearing up anomalies that inevitably occur in a work of such magnitude. This Act gives the Board power to write off or to transfer to a Suspense Account any amounts which may be shown as having no equity. That it has been necessary to write off so little (at date 0-66 per cent, only of capital invested) tends to, show how the main operations of the Board have assisted the soldier settler. Practically three-fifths of the Current Accounts have been dealt with, find it is anticipated that the operations of the Dominion Revaluation Board will cease in about five months' time. The whole work of Current Account investigation has been conducted with the help and assistance of the District Land Offices. Standard values were established over the Dominion with regard to dairy herds and stock generally. The stock was appraised throughout on the basis of its utility value as part and parcel of a proposition as a going concern. It was inevitable that the inspections and reports on individual securities would extend right through the year, and it was necessary to introduce " standard values "in order to give equal consideration to all mortgagors. The work of collecting and compiling the reports has proceeded smoothly throughout the year. The reports aim to place before the Board a complete statement of the position of each settler as between himself and the Crown, and through this the Board is able to view the whole position.