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The Pamphlet Collection of Sir Robert Stout: Volume 71

Land Monopoly

Land Monopoly.

This principle of sale, by which the land was settled, opened up a great opportunity for those who came to the country with sufficient money to enable them to buy up land they did not in-tend to use. They would readily do this, because they would know that the next lot of settlers would have to pay them a premium before settling, or else go further afield. The speculators would page 4 buy land with the object of benefitting by the public and private improvements that might be made, knowing that they would be able to sell or let it for a rental equivalent to the increased price. Of course the next settlers would have either to work for wages upon the land taken up by these speculators, or else live upon land for which they would have to pay a premium in proportion to its size and position. The second lot of settlers would have to pay more for their land than the first; for if not the hope of the speculator would be entirely falsified. It was quite clear why the second lot of settlers should be required to pay more than the first. Many would say that it was quite right that they should if they came in for a share of the benefits of the public improvements made by the first settlers. He (Mr. Withy) was quite prepared to admit that; but still it did not settle the question. It might be quite right that the additional premium should be paid, but the question was, who should receive the extra amount? Whether it should go to the first settlers who made the improvements, or to the speculators who had forestalled the later intending set-tiers? Ought the speculators to be allowed to pocket the increased premium, simply because the original settlers had made certain public improvements which had made all the land more valuable?