"VII. That the whole of the purchase-money of waste or public land, after defraying the necessary cost of surveys and sales, be employed in conveying British labourers to the colony.
"VIII. That the emigrants conveyed to the colony with the purchase-money of waste land be of the two sexes in equal numbers, and that the Corporation be bound to give a preference amongst the applicants for a passage cost free to young married persons not having children; so that for any given outlay of their money, the purchasers of land may obtain the greatest amount of labour wherewith to cultivate the laud, and of population to enhance its value.
"IX. That until the colony be settled, and the sales of waste or public land shall have produced an immigration fund, adequate to the want of labour in the colony, the Corporation of Trustees have authority to raise money on loan by the issue of bonds or otherwise, bearing
pany, and purchase a large block of land with a view to profit; or individuals might, by making purchases in the situation most favourable for a town, not only create a monopoly price of land near the seat of government and centre of commerce, but might altogether prevent the observance of method and regularity in laying the foundation of the future capital. Whereas, if the first body of emigrating capitalists were enabled to combine their funds, and to purchase a large tract of land in the most favourable situation for the first town, it would be for the interest of each and all of the owners of that favourable situation to lay out the ground for a town in the most convenient and ornamental manner, and at first to sell town lots at a very moderate price, with a view to the increase in the value of adjoining lots. It is in this way, generally, that towns are formed in new American settlements; many combining to do that in the best way, which separated individuals could not do at all. On this account it was at one time intended that the South Australian Association should be a Joint Stock Land Company as well as a body politic; but the intention has been abandoned on the ground that the Corporation of Trustees ought not to be engaged in any pecuniary speculation, and that companies for the purchase of land in the colony may be formed under the authority given to the association. In America the formation of such companies is greatly facilitated by the Government.
