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35 cents per Square Foot and the Crown Rent was fixed at
$600 per acre. Taking the same rates for the proposed War
Department Marine Lot and the area at 58,429 Square Test,
as given on Colonel Brown's map, its value will be as
follows:-
58,429 Square Feet at 35 cents ......................................
1.34 acres at $600 per acre by 25 years'
purchase.
.$20,450
20,100
Total.
.$40,550
5.
I do not propose that the Colonial
Government should reclaim the Lot in 'the event of Your
Excellency deciding to acquire it, but should the two
transactions referred to above, viz.:- the transfer to the
Colonial Government of a portion of the site of the battery
at North Point for the purpose of a public road and the
transfer of a Marine Lot in the same neighbourhood to the
"ilitary nepartment for the purposes of a landing place,
be completed under the conditions I have specified, which
would involve a net amount of $40,550
$16,340 = $24, 210
being credited to the Colonial Government in the Military
Tands Account, I should be prepared to recredit to the War
Department in that account a sum of $12,225 1.e. 15 cents
per Square Foot for the land transferred to the Colonial
Government