CO129-257 - Public Offices & Others - 1892 — Page 148

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to make the Colonial Government pay to the War Department

the value of its own rights as well as the value of those

of that Department. The rights of either party, alone,

would probably be quite unsaleable. If the union of those

rights be necessary to produce a price, that price must

belong to both parties jointly.

My Lords acknowledge the force of the arguments

on both sides.

For the integrity of the Trust and in the interest

of the Defence of the Colony, the War Department must be

enabled by the Colonial Government to replace what they

surrender, whenever necessary. The limited purpose for

which the War Department would require the new land would

probably not enable them to obtain it for less than its

full market value, therefore the Colonial Government must

hold at the disposal of the War Department the full market

value of the land surrendered. But, in return, the

Colonial Government may fairly ask to be given the same

reversionary rights over the land acquired by the War

Department in substitution for that surrendered, as they

enjoyed over the surrendered land.

buildings.

What has been said of land applies equally to

To take an example, My Lords hold that the

Colonial Government should pay to the War Department the

full market value of Murray Battery, at once, if it be

surrendered to the Colony, because the War Department have

to spend that value (and much more) in building Barracks

for the Defence of the Colony. But if the Colonial Govern

ment have a reversionary interest in Murray Battery they

should, in return, be given a like reversionary interest to an equal value, in the new Barracks, which interest that Government will be entitled to realize should neither the

Barracks,