Cour
1. Under Captain Elliot's notification, the lands were put up to Auction; the biddings were required to be for a certain annual payment - to which the name of Quit Rent was given; and the whole terms were explained to be subject to the Queen's Pleasure. We have analyzed with some care the particulars of the Sales under this and subsequent notices, and where the Returns have conflicted, have endeavoured to adopt the result which seems most correct. It appears that the number of Lots sold under Captain Elliot's notice was 33; – that they amounted in the aggregate to an acres; and that the Annual payment was £3032.
This amounts to an average of $7-8, 6 per Thousand Square Feet: a price which we believe any one conversant with the value of building Land in England would acquiesce to be exceedingly large. It may be enough for present purposes to remark that it is equal to a rate of more than £323 per Annum for the acre. Observing this result, we cannot for a moment hesitate in expressing our assent to the view thrown out by Sir Henry Pottinger in his Dispatch 20. 7 that it would only be just to confirm the marine lots at the prices they fetched at Auction upon leases for 35 years.
But we should advise reconsideration of the suggestion... £7.9.6
Cour
1. Under Captain Elliot's notification, the bands. were put up to Auction; the biddings were required to be for a certain annual payment- to which the name of Quit Pent was given; and the whole
the terms were explained to be subject to the Queen's Pleasure. We have
of
Analyzed with some
care the particulars
of the Sales under this and subsequent notices, and where the Returns have Conflicted, have endeavoured to adopt the
result which seems most correct. It appears that the number of Lots sold under Captain Elliot's notice was 33; –
that they amounted in
the aggregate
to an acres; and that the Ammal payment_
war ₤3032.
extent not much exceeding o
bid for their
This amounts to an average of
209
$ 7-8, 6 per Thousand Square Feet: a price which we believe any one converscrut with the value of building Land in
may
England would accoquige to be exccedingly Lege. I
be enough for present purposed to remash that it is qual to a
rate of more than £323 per Arnum for the acre. Observing this result, we cannot for a moment hesitate in expressing our assent- to the view thrown out by Sir Bury Pottinger in his Dispatch 20. 7 that it would only be just to confirm the marine lots at the prices they fetched at Auction_upon
Auction_upon bases for
35 year.
But we should advise
riconssideration of the suggestion 1516
£7.9.6
Thirs
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