130 THE HIGH COST OF LIVING 



compulsory if necessar}^, the monopoly already ex- 

 isting. The ultimate object of the laws was to 

 repopulate the large estates with tenants of the 

 state. Underlying the legislation was the philos- 

 ophy that land should be held only for use and for 

 such use as was for the public good — the public to 

 be the judge of what was good.^ 



Under the new laws improvements were not 

 wholly exempt from taxation. In fact, only $15,- 

 000 worth escaped taxation. Land values, except 

 in the case of small properties, were taxed after 

 mortgages had been subtracted. When the land 

 value exceeded $25,000 above improvements it was 

 subject to a progressive land tax.^ 



In order to prevent future monopoly, it was pro- 

 vided that not more than 640 acres of the lands 

 resumed, or bought back, by the state might be 

 bought or leased by one party, if the land in ques- 

 tion was first-class land. In the case of second-class 

 land a maximum of 2,000 acres might be taken, 

 and in the case of sheep lands, 4,000 acres. If the 

 would-be purchaser already owned this amount he 

 could not increase his holdings.^ Mineral and oil 

 lands were reserved to the state. PubHc lands 

 might still be bought in freehold but not the lands 

 the state bought back. 



Certain restrictions as to area, improvements, 

 etc., are put upon the resumed lands when they are 



» Idem, p. 137. « j^em, p. 116. » Idem, p. 138. 



