Report such relief should be granted to the present holders as might appear to your Lordship proper and desirable, and a new rate also fixed for the rent of land which is at present available to the Government.
9. I observe, My Lord, that in the evidence given before the Select Committee of the House of Commons, last year, it is held that a reduction of Land-rent would not cause eventually a deficit in the Revenue... of this I am by no means so confident, as I much doubt whether the other sources of local Income would increase to any extent, in consequence of any reduction of Ground-rent that might be sanctioned... At the same time, I feel certain that unless some measures be adopted for the relief of the present landholders, revenue derivable from the land will continue to decrease, as many of them will, have already done, abandon their lots altogether.
10. In support of this view of the case, I now enclose for your Lordship's information a Return of all the Lands that have been leased since this Colony has been established, which shows that 630 Lots containing 209 acres 3 roods 20 yards and 3½ feet have been alienated by the Government at an Annual Rent of £15,699.19.- and that 130 Lots measuring 59 acres 3 roods 844 yards have been abandoned, whereby a loss of £4,500 has accrued to the Government, being about 27 per cent or rather more than one quarter of the whole landed Revenue of the Colony.
I have the honour to be,
With the highest respect,
Your Lordship's,
Most Obedient
Humble Servant
Major-General ...