35
be held at the
average rate at
which similarty situated lots may
sell at the
ensuing sale, it being
clearly understood that Government
will be entitled to all advances
profit that
transactions may
of
The
acerul, on
17.
these
same rules as
to
improvements, transfers, to, that have been already laid down, and communicated to you, will of course, be minutely applied to the lots under
discussion.
from
Your Committee has seen Her Majesty's Gracious Instructions to the Governor, that all lots under whatever denomination – to be sold
are to be
2 in future,
to be put up
at
an
upset price to Public Auction, and His Excellency thinks that that upset price should be the same
that
that corresponding lots, whether Marine
br.
Town lots, bear in
your classification,
that the lots should not be allowed
to go
below such upset price, and that any advance made beyond the upset price by intending purchasers should be in the shape of annual bonus or premium,
rent, and not of
a
the adoption of which latter mode
would probably, owing
You
have stated, deter
to
the
many
reasons
individuals from coming forward to bid, thereby tending to check the rapid increase and prosperity of the Colony, and certainty in the end; less advantageous
proving
"Revenues of the Crown...
You
to the
In conclusion, I am to inform that His Excellency will be
happy to receive, and give his best
attention: