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4. Being much embarrassed by difficulty of doing what would be fair by present landholders, and at the same time "showing due consideration to present and future purchasers, I have deemed it right to submit the whole of the documents connected with this matter, together with my own opinion, for the decision and instructions of Your Lordship.
15.
To enable Your Lordship fully to comprehend this question, I have caused a Plan of the Town to be prepared, which shows the extent of ground already leased, with the rates at which they are charged marked upon the different lots. From this Plan it will be seen that the lands within the Town are leased out at ten different rates, varying from £340 to £2 per Acre. These rates were settled by a Committee so long ago as 1844, at which time it was anticipated that this Colony would be of much more importance in a commercial point of view than further experience has proved it to be. In most instances they are, no doubt, much too high; causing considerable discontent amongst the inhabitants generally; and in consequence decidedly detrimental to the interests of the Colony, and this is fully evidenced by lands, with buildings on them of some value, being continually given up to the Government, their proprietors preferring this course to a continuance of payment of their rental at the present rate. So long, therefore, as they are adhered to, I confess I see no hopes of any immediate increase to the native population of the Colony.
6.
Your Lordship in Despatch No. 18 of the 4th May, 1848, has detailed various reasons that the present rates should...