20
2/
166
submitting the result for Lord Grey's consideration before final steps are taken. And any
2.
A
If the
We would further suggest
revision
that in any
systems of sale,
a
proportion only of the price should in future be reserved in the shape of Rent, the competition at the Public Sales being made to turn,
not on
the amount of Rent, but on the premium offered for what would in fact be a beneficial lease.
15
We now turn to the particular applications for Land of Messrs! Stephenson, Pranice
and Scott.
Considering
16
Considering the nature of
the Land applied for by Mr.
Stephenson, and that it does
not fall within the limits of Victoria, we should
not
hesitate to recommend that he should be allowed to effect his proposed purchase at a Rent of £100, as suggested by the Governor, but as that Gentleman's offer is only £25
it appears to us improbable that these terms will be
accepted. What further reduction could properly be made we feel unable to determine. But we think that pending the proposed Inquiry, the Governor might
be
?