Admira
ents
159
Fore Office
Home Office
appears by the corrected Return transmitted in despatch No99) to
€14.274.-
5.
The progress, however, of the Colony did not correspond with the anticipations on which these large rents had been obtained, and the consequence was that the purchasers of land became dissatisfied with their bargains. Permission was given to those who chose to throw up their Lands, and 76 Lots have been thrown up, involving loss to Government of £2694, or about one fifth of the annual Crown rental.
Mr Stephenson also states the circumstances of four properties on three of which expenses have been incurred amounting to 40 or 50 thousand dollars each. Of these, two cannot be let for the mere ground-rent and other two; one has been sold for $15,000, and the other cannot find a purchaser at that price.
Under these circumstances Governor apprehends that besides the discontent occasioned by those who find themselves burdened with a rent beyond the value of their Land, the maintenance of the present rate of rent will have the effect of causing
Admira
ents
159
Fore
Office
Home
Office
appears by the corrected Return transmitted in despateti Ne99) to
€14.274.-
5.
The progress, however, of the Colony did not correspond with the anticipations.
on
which these
large rents had been obtained. and the consequence was that the purchasers of band became dissatisfied with their bargais. Permission was given, to those
their who chose to throw up
Lands, and 76 Lots have been to thrown up, involony Coss to Government of £2694, or about one
an annual
& The Crown rental.
fifth of
Mr Stephenson also states
the
sircumstances of four properties
on
3
on
three
of which ripenses have
been incurred amcountrip to
40 or 50 thousand dollars each.
Of these, two cannot belet for the mere ground-rent and
other two
of the
one has been sold
for 15.000 $, and the other cannot
Grid
a purchaser
price.
b.
the
at that
Inder these circumstances Governor apprehends
that besides the discontent
winced by those who find themselves burdened with a rent beyond the value of their Land, the maintenance of the present rate of rent will have the effect 1th of causing
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