at those stores, and therefore the
ground is at present inaccessible except by Sea.
With Regard to the Rate
at which it is
proposed to charge Mr Stephenson, I would first remark, that the sand ground being beyond the limits of the Town, the price fixed by the Land Committee in 1841, for ground within the Town should not in justice be charged, and in fact, were it within the limits, the price formerly fixed could hardly be demanded.
Again, from the depression of property during the last two years, and from the fact that all the Marine Lots near that Locality, which were sold at the Rate of $340 for £310 per Acre have been given up. No ground beyond the limits of the Town (as in the lease) has yet been sold; it is therefore necessary that another rate should be established. The disadvantages of this ground have already been stated; the particular advantages are good and plentiful supply of water, and the great fall at which it may be obtained from the ground; also the nature and usual depth of the shore. Taking all these circumstances into consideration, I would propose to charge for this Land at