74

Amongst the most important of the measures to be brought under your notice is that which relates to the settlement of the titles to land within the territory which was formerly vested in the New Zealand Company. You are aware that, after the lapse of so many years, not a single settler within that territory is in possession of a legal or valid title or conveyance to his property, and that the whole question of titles to land is in a most involved and confused state. Until so great a difficulty is removed, it is impossible that any great advances in wealth or prosperity can be looked for in this part of New Zealand. Immediately, therefore, that the Local Government were enabled, by the dissolution of the New Zealand Company, to take any steps in reference to it; and I have had a measure prepared for your consideration which, in its general features, I think well adapted to adjust and finally settle the various questions connected with titles to land in this part of New Zealand.

I must, however, necessarily depend upon your wisdom and knowledge of local affairs, for the settlement of the details of such a measure: and I confidently rely upon your affording me such advice and assistance upon this subject as may enable me to give my assent to such an ordinance as may secure to Her Majesty’s subjects a clear and satisfactory title to the lands to which they are entitled; and as may, by putting the tenure of property upon a certain and beneficial footing, afford that security for the investment of capital in landed property which is absolutely requisite to ensure the rapid advancement of the country.

Although the bill for this purpose provides, in the form in which it will be laid before you, for the complete settlement of the question of titles to land, I think, in reference to its effect upon the general prosperity of the country, it may be found possible to make some valuable additions to it.

Should the bill pass the Council nearly in its present form, its effect will be to leave in the hands of absentees and others, large quantities of land which they cannot use for many years; this land is moreover divided into such minute subdivisions, and is scattered (even in the case of one owner of several allotments) over so great a space of country as to be of comparatively little use to the proprietor; in many cases the position of these portions of land has hardly been ascertained, and the owner often residing in England there is frequently no person in this country empowered to dispose of such portions of land. Even in those cases in which the proprietor may have an agent in New Zealand, it is often very difficult to find who the person possessing such power over any particular portion of land may be. Nearly all the immediately available lands in the vicinity of the older settlements are thus circumstanced; when therefore, under the provisions of the proposed law, titles to their lands have been issued to all the proprietors, I fear that whilst they will be put into possession of that which will be of little use to them, the Colony will have to relinquish, for many years, all expectation of any fund being realized from the sale of land; and that the difficulty of acquiring land by purchase will deter intending emigrants from resorting to settlements where land can not be immediately purchased in the vicinity of towns, at a public office where every information regarding all the lands which are open for purchase could be afforded to the immigrant.

An attempt has been made, in the bill submitted for your consideration, in some degree to remedy these evils by the introduction into it of a provision under which persons would be permitted to exchange their claims to land for scrip, which would be available in the purchase of any land which the Government may at any time offer for sale in this Province. But although such a measure will perhaps remedy one evil, by inducing many persons to throw up their previous selections, and thus leave a greater quantity of land open to arriving immigrants, who would probably pay for it in the scrip issued by the Government which they would purchase from the holders of it; still the evil, in so far as relates to the total annihilation of the land fund, would for many years remain untouched.

I think, therefore, that the proposed measure might perhaps be amended by a further provision being made, which would enable the holders of scrip, if they desired to do so, to fund it by the purchase of Government debentures, payable at any time at the option of the Government after twelve months’ notice, and bearing a low rate of interest. Many persons would probably avail themselves of such a regulation, and its effect, in conjunction with the other proposed measures, would be to reproduce the land fund, and to afford ample lands for the selection, either of the present colonists, or of those who may arrive. It would indeed place the colony somewhat in the same position in which it would have stood, if its founders had, in the first instance, borrowed a sum of money for its establishment, the principal and interest of which were to have been a charge upon the future revenues of the country.

If the Council should, after mature consideration, think that an arrangement of this nature would tend to promote the prosperity and welfare of this Colony, I shall gladly avail myself of their experience and advice in considering the subject.

Although the precise form in which you may wish the questions connected with titles to land to be adjusted is uncertain, I still felt so satisfied that you would agree in the general principle of attempting to secure to every bond