New Zealand in evolution, industrial, economic and political; . le tax, towards which the landowners fearedthe Seddon Government was leaning, gave the Stateleaseholds an additional value in the eyes of the lessees-in-perpetuity, now numbering 11,000, andholding about 2,300,000 acres of land (including allthe resumed estates up to 1907), were universallyenvied. Whichever way the cat jumped they stoodsecure. There was never any question of an assaultupon existing contracts. By this time old-age pensions had become a perma-nent charge on the public revenues, and it was freelydemanded
New Zealand in evolution, industrial, economic and political; . le tax, towards which the landowners fearedthe Seddon Government was leaning, gave the Stateleaseholds an additional value in the eyes of the lessees-in-perpetuity, now numbering 11,000, andholding about 2,300,000 acres of land (including allthe resumed estates up to 1907), were universallyenvied. Whichever way the cat jumped they stoodsecure. There was never any question of an assaultupon existing contracts. By this time old-age pensions had become a perma-nent charge on the public revenues, and it was freelydemanded that not another acre of Crown lands shouldbe parted with until a due endowment had been made tomeet this charge. As a matter of fact the balance ofCrown lands was inconsiderable, and the rents couldnever have provided more than a fraction of the sumrequired for old-age pensions. The controversy waseven more keen than that of the early nineties. Legisla-tion brought it to a solution in 1907 and 1908, when thelease-in-perpetuity was abolished and supplanted by.
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Keywords: ., bookcentury1900, bookdecade1900, booksubjectnewzealandeconomicco
