Page:The founding of South Australia.djvu/174

 meantime, we agree that it is better to bepin at a price decidedly too low, than at one decidedly too high. So far principle.

"Now for expediency. I am clearly of opinion that if anything like the price you mention in your letter signed 'Kangaroo' be fixed by the commissioners, the colony will never be founded, for no one will buy land at that price, unless it be a joint-stock company, which shall have power given it to take the site of the town—nor do I think £2 an acre can be obtained. To enable the commissioners to do anything, therefore, I have been induced to agree to 12s. being required for laud until the conditions of the Act be complied with, on the understanding that the price is then to be considerably advanced. That this concession to expediency will ruin the colony I cannot for one moment believe—nay, I do not think it will cause any injury, for if labourers be wanting after the expenditure of the £35,000 and before fresh sales take place, the 17th clause of the Act meeting the difficulty, empowers the commissioners to raise money on loan to send out emigrants.

"I have to-day told the commissioners in conformity with your wish, that you hold different views to mine upon this subject. "I am dear W., "Yours truly,

to

"I have not 'taken alarm' about the price for land. My present opinion is nearly seven years old. I think now, on the subject of price, exactly as I thought during the long period when my opinions were represented by you.

"I do not maintain that the question of price ought to be left to experience. Unless the price be high