nearly all the
your
money
has been expended :
any onerous
and that in point of fact nearly the whole of the expenditure, or at least such outlay as rendered the remainder unavoidable, has been made long antecedent to the Holders of Land being led to anticipate that any conditions would be imposed upon them.
It remains for us to observe on remark that "the valuation and arrangements of the Committee prior to the recent sales of Land were absolutely demonstrated and confirmed to have then been liberal and just by the fact that lots fetched above the upset price". With reference to this strong and important declaration we feel it incumbent on us to assure His Excellency in the most unreserved manner of a firm conviction that results will
at that sale
our
every
prove
255
prove such sale to have been in a great measure of a fictitious and delusive character; and that probably not one out of five of the purchases made at that sale will ever be carried into bona fide effect. The lots sold on the 22nd January were to the number of 116, of which some were composed of portions of Land formerly granted by Captain Elliot, but returned by the existing Government, and which the Parties who considered themselves the Proprietors were compelled to purchase at an exorbitant price, or abandon ground, on which, on the faith of what was previously deemed a valid Title, they had expended considerable sums. Of the whole 116 Lots, only 3 have any Buildings commenced on them; and we beg leave to subjoin a Memorandum.