53.
for the permission to use their wharves for landing goods, at a time when I had no wharf.
In most of those cases the rent should be a nominal one, as compared with the present price of land sold for building purposes, - but so as to add to the public revenue.
In some cases the land so reclaimed has been built upon, and made a source of pecuniary profit.
In those cases I would propose a higher rent, if it could be shown that the profit has been very great, after deducting the expense and the risk.
There is great risk of buildings disappearing after they have been put up, and it very often occurs from the wash of the water undermining the ground.
If, after making all allowances, a certain amount of yearly profit is shown, I think that a higher rate might be employed in assessing the rent.
In the case of land to be reclaimed by Government, I think that, in consideration of the equitable claims of the present Marine Lot Holders, the rent assessed should be a very moderate one, and that they should have a right of preemption.
I think that it should be no higher than the rent assessed upon those portions which they have themselves reclaimed, - that is to say, in cases where a portion of the frontage of one and the same lot has been reclaimed by the holder of that Lot, and the remainder afterwards completed by Government.
The rent in that case ought to be uniform for the whole.