At First The Treasury
Fixed 24 Years' Purchase Of The Valuation As The Scale They Would Adopt,
And Under That They Lent 16 Years' Purchase To The Tenant, Who At Once
Remonstrated That Their Interest Was A Great Deal More.
After numerous
enquiries, &c., the treasury changed the 24 years into 30 years, and
consequently let the tenants 20
Years value of their valuation, they
finding the other ten years, clearly showing that in the opinion of the
tenants themselves and the Government land was worth 30 years' purchase
of its valuation. What is the proposal now by the tenants and agitators?
That they should clearly only pay at the rate of Griffith's valuation,
which, a few years ago, they themselves asserted was fifty percent below
the selling value, and which valuation was taken when wheat, oats,
barley, butter, beef, mutton and pork were much below the present value.
Landlords have not raised their rents in proportion. My own estate in
1843 had 116 tenants, in 1880 it had 105 tenants on 5,760 statute acres.
The difference in the rent paid in 1880 over that paid in 1843 is L270,
barely six percent on the whole rental, which is almost 16 percent over
valuation. Over L2,000 was forgiven in the bad years after potato
famine, and over L1,000 has been lost by nonpaying tenants, and a
considerable sum has been expended in improvements without charging the
tenant interest; in some cases the cost has been divided between
landlord and tenant.
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