FREE LAND.
[To THE EDITOR OF THE "SPECTATOR."]
observe that the newly organised " Free Land League" omits from its programme one very important change in the law which is absolutely requisite if land is to become "as saleable as Consols." The stamp-duties must be considerably reduced. The stamp-duties at present charged on sales of land— namely, 10s. on each conveyance plus 10s. per cent, on the purchase price—compare very unfavourably with the 2s. 6d. per cent, charged on a sale of Consols. With registration of titles and a duty of 2s. 6d. per cent. upon land sales, the State would more than recoup the loss on the higher tax by the multiplication of dealings in land. Were the stamp-duties now levied upon sales of land extended to Consols, the market for Consols would be clogged, and prices would permanently fall. I see no justice in one form of property being more heavily taxed than another.
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