CO129-010 - Sir Henry Pottinger - 1843 — Page 606

arry

individual deem his lot, or lots to be

Committee's classification

overvalued by your

such lots shall hereafter be held at the

rate at which similarly

average situated lots

may

sell at the ensuing

sale, it being clearly understood that

Government will be entitled to all advances

or

profit that

may

accrue on

these

transactions. The same rules as to improvements, transfers, &c., that have been already laid down and Communicated to you will, of course, be minutely applied to the lots under discussion.

from

Your Committee has seen

Gracious Instructions to the

Her

majesty's

Governor that all lots under whatever

denomination - to be sold in future

are to be put up

at

an

upset price to Public

Auction, and His Excellency thinks that

601

that upset price should be the same that corresponding lots, whether Marine or Front classification, that the lots should not be allowed to go below

lots bear in

your

any

advance

such upset price, and that made beyond the upset price by intending purchasers should be in the shape of annual rent and not of

a

bonus

or premium, the adoption of which latter mode, would probably, owing

to the reasons

you

have stated, deter many

individuals

from coming forward to bid, thereby tending to check the rapid

increase and

in

prosperity of the Colony, and certainly the end proving less advantageous to the Revenues

of

the Crown.

In conclusion I am to inform

that His Excellency will be happy

to receive and give his best attention to your further suggestions and reports.

I

that