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1 correction by ianlb - Show corrections

AGRICULTURAL LANDS PUR-

CHASE ACT. ?

To the Editor.

Sib,-The following facts have n<

become public property -" In a report on the estates purchased by the Government under the provisions of the Agricultural Lands Purchase Act,<which was presented to Parliament yesterday, it was shown that the following estates had been acquired :-Coondle, 7,800 acres, £7,015 9s. 8d., vendor Leake estate ; Mount Hardey, 9,800 acres, ¿610,275 C3., vendors Dalgety and Co., Limited ; Grass Valley (including Warding), 18,000 acres, ¿625,473, vendor National Bank; and Clifton, 2,800 acres, ¿61,750, vendor A. F. Clifton. It was esti- mated that, at the end of 20 years, the return from each, including interest, would be-.-Coondle, ¿fil3,2C4; Mount Hardey, ¿619,800; Grass »Valley (Throssell), ¿644,541 ; and Clifton, ¿85,705. In the working of the Act it had been found that some slight amendments would re- quire to be made for relieving purchasers of certain of the compulsory conditions of improvements, and for bringing the Act more in line with the system of dealing with applications than that which obtained under the land regulations." If this is really the true state of thing3 then, on the face of it, a serious loss to the country is manifest, because the so-called profits are more than swallowed up in interest, as we all knew that a 20 years' purchase at 5 per cent, doubles itself in that period. These experiment -should surely cause the Govern- ment to halt and consider before making further purchases, for if they do not I am afraid they will soon find themselves in the same position as the New Zealand Government. Thanking you in anticipa- tion.-Yours, etc.,

A' FARMER'S SON. Perth, June 25.

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