remain as they
arc-1
and I am with great-
respect fully satisfied of the justice of the
viz...
equitable
conclusion that has been arrived at, that the present holders have no right whatever to demand a reduction, as they purchased the lands at public auction, not only at one sale, but at many, and were therefore fully aware of what they were doing. But as I have before observed, with a view to the ultimate benefit of the Colony, I am persuaded that some reduction in the existing rates should be made.
7. The objections to this proposal are the loss which must inevitably be sustained by Government of a part of its already very limited Revenue, and the difficulty that exists of making any arrangement which would be considered an advantage by the landholders themselves, and equitable to the Public generally.
8.
168
The only practicable plan that has been suggested to remedy the evil, is a general reduction of rates, of from 20 to 25 per cent, throughout the whole Colony; but it appears to me that this would not afford relief where it is most required; a reduction of 20 per cent being absolutely unnecessary in some instances, while in others where proprietors have purchased land at an absurdly exorbitant rate, this amount of reduction would not be deemed sufficient.
If, therefore, your Lordship should, on further consideration, be disposed to admit that a reduction in the rates is necessary, I would respectfully suggest that a committee should be appointed to examine and report on the state of the landed tenure of the Colony generally, and that it might be enabled to show in each individual case that a reduction of rent is imperatively called for...