EUHAL ECONOMICS. f)87 



oiiii)loyoos witli I'aiiiilics. Iu wliinii lionsc^ iirc funiislu'd tree, .iiid llic i)r()\ idiiiji 

 of batlis. wcll-carcd-fdr hiiiik Ikhiscs. and iiniirnxcd i.dilc I'arc will ccrlainly do 

 imicli toward sohjii;;; this |inililciii. csiiccially wlicn' the t('iid('iic\- is to <ut up the 

 Iaiw> liiildiiius." 



The land system of New Zealand, S. I*. Smith {Xcir ZatJ. Off. YcinlKxilc 

 IHIK). PI). .')')l—',i!'i). — The distin,i,'uisliiii.i,' I'l^atiircs of the present land system in 

 New Zealand are diseussed in this article, which inchides notes on the acquisi- 

 tion of native lands hy the jiovernment, the conditions under which the land is 

 allotted to settlers, and the systems of land tenure. 



The land system of New Zealand rests on " the ]:)rinci]'le of State ownershii» 

 of the soil, witli a periirtual tcuaiuy in the occupier. A very lari^e proportion 

 of the crown lands are now disjiosed of for !•!>!) years. T1h> rentals are based on 

 the assessed value of the land at the lime of disjiosal. without increase or recur- 

 ring valuations. I'lider tins system there is a fixity of tenure practically equal 

 to freehold, and which, like fivehold, necessarily carries witli it the power of 

 sale, suh-lease, ni()rt,i,'a.i,'e, or disposition hy will. At the same time tlie improve- 

 ments made in the soil hy cidtivation, etc., are secured to the tenant should he 

 from any cause he ohlisjed to forfeit (u* surrender his lease." 



Three modes of land tenure are recognized: (1) By purchas(>, in which one- 

 lifth of the price is paid down at once and the remainder within 30 days, the 

 final title not heinj; .ijiven until specified imi)rovements are made; (2) le.-ise with 

 .•I purchasing clause, at a .l-per-cent rental on the v.nlne of the land, the le:ise 

 being for 2r» yeiirs .-nid carrying the i-ight to purchase' or to convert into a le.nse 

 in perpetuity : and (.".) " lease in perpetuity at a rent.-il of 4 per cent on the cap- 

 ital value." 



A digest of the land laws of New Ze;iland embracing the admiiustration, clas- 

 sification, mode of acquisition and selection, improvement, and settlement of 

 crown lands is included in the article. 



Advances to settlers, S. P. Smith (Ncio Zeal. Off. Yearbook WOO. />/>. 

 5*;'/-J7.f). — This article treats of the plan adoi)ted in 1S;>4 hy the New Zealand 

 government " to afford relief to a numerous class of colonists who were strug- 

 gling under the burden of high rates of interest and heavy le.gal expenses of 

 mortgaging, etc." 'I"he plan consists in advancing sums of money ranging from 

 £25 to £.{.(KX», with interest "at the rate of ."i jier cent, reducible to 4* per cent 

 I)rovided payment is made not later tliau 1 I days after due date and no arrears 

 remaining outstanding." The successful working of the i)lan from its inception 

 to the present time is shown by means of statistical data which are imported and 

 discussed. 



The indebtedness of peasant proprietors in Bavaria, A. Cohen (Die \'er- 

 ■sehiililiiiin lies hiiiieilieheii Oriiiidbe.sitzex in Baijeni. ].(ij)sic: Dinicker ct- 

 llinnhlot. IDOd. pp. A'/X+.)70). — This volume is a contribution to the history 

 of the develo])ment of agricultural credit in I'avaria, and tre.-its particularly 

 of the period between l.'DS and 174r>. The develoi)ment of land ownership by 

 the different classes of i»roprietors is described, tlie methods of transferring 

 jiroperty are outlined, and the different forms of agricu!tur;il indebtedness 

 are discussed in detail from th(> legai. social, .-ind economic points of view. 



Manual of world economics, edited by K. vo,\ Halle {Die Weltiiirtscluifi, 

 ciii Jain- inid Lcsehiteh. Leipsie and Berlin: li. (I. Teiibncr, 1!J06, pts. /, /;/*. 

 VIII+S()t!: .?, pi>. VI+25S: S. pp. yi+2f^l).—V:\vt 1 of this imblicution con- 

 tains an article on Agricultural Production Ity Wygodzinski, which gives 

 statistics on the world's j)i'oduction of cereals and other staple crops, live stock, 

 and sugar for 1!)0." and lOOC, in comparisc.n with i)receding y(>ars. Statistics 

 are also presentee] on the exports and imports of cereals for tlu' years 1!H.)4 and 

 IDUu, 



