arry
individual deem his lot, or lots to be
Committee's classification
overvalued by your
such lots shall hereafter be held at the
rate at which similarly
average situated lots
may
sell at the ensuing
sale, it being clearly understood that
Government will be entitled to all advances
or
profit that
may
accrue on
these
transactions. The same rules as to improvements, transfers, &c., 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
Gracious Instructions to the
Her
majesty's
Governor that all lots under whatever
denomination - to be sold in future
are to be put up
at
an
upset price to Public
Auction, and His Excellency thinks that
601
that upset price should be the same that corresponding lots, whether Marine or Front classification, that the lots should not be allowed to go below
lots bear in
your
any
advance
such upset price, and that made beyond the upset price by intending purchasers should be in the shape of annual rent and not of
a
bonus
or premium, the adoption of which latter mode, would probably, owing
to the reasons
you
have stated, deter many
individuals
from coming forward to bid, thereby tending to check the rapid
increase and
in
prosperity of the Colony, and certainly the end proving less advantageous to the Revenues
of
the Crown.
In conclusion I am to inform
that His Excellency will be happy
to receive and give his best attention to your further suggestions and reports.
I
that