CO129-031 - Public Offices - 1849 — Page 161

Admiral

Penta

X

158

Fore

Office

flume

Office

at anual rent for a term which was ultimately limited to 75 years. The great expectations

of whis Entertained at the hint the progresse

of Colony led to considerable competition at the Land auctions, which was still further enhanced by the mode in which the Lands were for the most part disposed

It was determined that instead of naming a fixed rent and making a premium or bonus the subject of competition, the biddings should be for the annual rent itself - the upset price being fixed by a Committee appointed for the purpose. An examination

of the Table annexed to the Despatch No 89 will show the extraordinary rate at which these Lands were accordingly put up for sale and sold. The upset annual rent which in the year 1844 the Government were ultimately able to fix for

Marine Lots

£340

was no less than

£10 per acre, and upwards of 26 acres have been disposed at nearly this rate, bringing in a Rent of £6,970.17.6/4. The other Form Lands were divided into 9 classes, at rents varying from

$2 per acre, and the whole rent obtained, of these and the Marine Lots amounted (as appears

by the sale