"There is but one object of a price," says Mr Wakefield, (p. 347,) "and about that there can be no mistake. The sole object of a price is to prevent labourers from turning into landowners too soon: the price must be sufficient for that one purpose, and no other." "The sufficient price," he says, (p. 339,) "has never yet been adopted by a colonising government." And a little further, (p. 341,) he thus continues: "There are but three places in which the price of new land has had the least chance of operating beneficially. These are South Australia, Australia Felix, and New Zealand. In none of these cases did the plan of granting with profusion precede that of selling; but in none of them did the price required prevent the cheapest land from being cheap enough to inflict on the colony all the evils of an extreme scarcity of labour for hire. In these cases, moreover, a large portion of the purchase-money of waste land was expended in conveying labourers from the mother-country to the colony. If this money had not been so spent, the proportion of land to people would have been very much greater than it was, and the price of new land still more completely inoperative. More facts might be cited to show the insufficiency of the highest price yet required for new land." We will continue our first quotation from p. 347. The manner in which Mr Wakefield himself exposes the difficulties of fixing the "sufficient price," and the very inadequate expedient he points out for obviating, or avoiding, these difficulties, may throw some further light upon the matter.