and reasonable; and, as that is the upset price when the lots or portions of ground are put up to public competition, I submit that the sum at which any lot of ground may be knocked down should only be demanded by Government for the space of one year from the date of the sale, after which it should be held at the upset price, with the addition of Five shillings, being the sum necessary to effect a sale.
In cases, where several parties are competitors for the same piece of ground, each enjoys the opportunity of bidding, and though the sum at which the sale may be effected, may at times be enormous, still, as this burden would only have to be borne for one year, the purchaser would be enabled to improve his ground.
Though, at first sight, this plan may appear detrimental to the Government, still experience will prove its advantages over the present system; as buyers are not saddled with a ruinous rent for 75 or 999 years, instead of abandoning their purchase.
At present, land jobbers are in the habit of running up the price of lots, and prejudicing their sale very materially, as, in the event of any lot, the price of which they bid for, being knocked down to them, they merely pay the deposit and throw it up. Government would decidedly gain by refusing to take their bids, as bona fide purchasers would then become the owners at reasonable rates, and the Government, instead of receiving a forfeit, would annually receive the rent.
Many of the residents have abandoned their views, in consequence of this practice, and Chinese intending to become settlers have been compelled to go elsewhere.
True Copy
I have, &c.,
(Signed)
John Burd,
Colonial Secretary.
and reasonable; and, as that is the upset price when the lots or portions of ground are put up to public competition, Isubmit that the sund at
be knocked down,
which any
any lot of ground may
should only be demanded by Government for the space of one year from the date of the sale, after
and should be held at the upset.
· ground
which the
price, with the addition of Five thillings, being,
the sum recessary to effect a sale.
Bay
this
INCANS, where several
several parties arò)
competitors for the same piece of ground, each
OHO)
enjoys the opportunity of bidding, and though
the sund at which the sake
nay.
be effected, may
at times be enormous, still, as this burder would
only have to be borne for one year,
the purchaser
would be enabled to improve his ground.
Though, at first sight, this plaw may appear detrimental to the Government, stilh
experience will proved it's advantages present system; as buyers their intentions when award that they
over
would carry
the
out
are not
saddled with a ruinous rent
years, instead
413
6 for 75 or 999
of abandoning their
their purchase
At present, land jobbert are in the
habit of running up the price of lots, and prejudice their tale
very materially, as, in thes event of any lot, thes pried of which they bid sip, being knocked down to them, they moroby pay the deposit and
and throw it up. Government
would decidedly gain by refusing to take their bids, as
bona fides purchasers would then become the owners at reasonable, rates, and the
I would
instead of receiving, a forfeit,
Govenment, instead
annually
receive
the rent, many of the _
residents have abandoned their views, in
consequence of this practice, and Chinese
intending to become settlers have been compelled
elsewhere.
to go
True Sopy
I have, &fe,
(Signed).
John Burd.
Colonial Secretary.
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