The Akaroa Mail. FRIDAY, NOVEMBER 5.

Akaroa Mail and Banks Peninsula Advertiser, Volume V, Issue 448, 5 November 1880, Page 2

The Akaroa Mail. FRIDAY, NOVEMBER 5.

Tug battle between the rival economical systems known,for want of b'ttcr terms, as those of Free Trade and Protection has yet to be fought in New Zealand. As the Chairman of the late Industrial Exhibition held in ChrUtchurch remarked, the very name of Protection acts on some people as a red rag is supposed to affect a bull. It is nevertheless true that our prosont Customs tariff is indirectly and indiscriminately protective to a considerable extent. Without however entering upon the debateable ground contended for by extreme theorists of cither school, there is one point on which we may assume that both parties are absolutely at one. The point to which we allude is the development by all legitimate means of the natural resources of the oountry. The most extreme Free Trader could not maintain that it was sound economy to send abroad for raw materials which exist in profusion literally under our feet, or to fail to take our place in ssupplying the world's market with valuable commodities with which our soil teems, and which require only a judicious expenditure of labor to develope them into valuable articles of export.

It is a well known fact that New Zealand is peculiarly rich in minerals. Many of her rugged mountain ranges which it would cost too great an expenditure of labor to render available as arable or pastoral land, teem with mineral wealth, beside which the fabled jewels of the Arabian Nights pale into ■utter insignificance. Of course a certain amount of labor or capital, which is nothing but a reserve fund of labor, is ■accessary to develope these resources ; and yet, in spite of knowing all this, how • difficult it ie to persuade our capitalists, large or small, to devote some of it to the purpose of endeavoring to develope some of these magnificent resources.

We are led into this reflection by the prospectus of a new company which has been forwarded to us, and now lies before us. It is called " The Caswell Sound Marble, Portland Cement, and Mining Company, Limited." The prospectus goes on to say that

" The Company ia being formed for the purpose of purchasing existing interests, extending operations, purchasing and erecting additional machinery, &c , in order to work effectually and profitably the extensive and valuable Marble and other Mineral deposits at Caswell Sound.

Jivlgee say that it is a firstclass almoet pnre aychrine marble easily and freely worked, and susceptible of a very high polish. The advantages and facilities for working these marbles are such as are possessed by no other innrble quarries in the world. Caswell Sound is a commodious, thoroughly safe and land-locked harbor, with great depth of water throughout, and the largest ocean vessels can ride with perfect safety in all weathers, taking in cargo close up to tlio quarries, the marble cliff outcrop being about 600 ft, perpen licular, with 30 fathoms of water immediately alongside. The passage out is also quite free, the shallowest portion of the channel being not less than 30 fathoms ; it is also situated in the direct route of coasting and intercolonial vessels and steamers, which would call should occasion justify."

Further on we are informed that, even with the present imperfect appliances, the cost of quarrying this marble does not exceed 2s per cubic foot, while " the lowest quotation in the European markets for this marble is 12s per cubic foot, and ordinary kinds for building, monumental and furnishing purposes, up to 100s for the finer specimens ; large blocks are, however, much more valuable, some of pure white statuary without flaws realizing as much as £20,000 sterling in Europe, an ordinary block of the same variety, its Carrara prototype, suitable for a life-size human statue, being worth about £1000 sterling."

In conclusion the directors say :—"ln addition to the large amount of money this Company will actually bring to the country, it will probably afford remunerative employment to hundreds of men, locating them and their families permanently on what is now an uninhabited waste. The advantage to the Shareholders, the Colony, and every one concerned, is now mo.st obvious." Documentary evidence of a highly satisfactory nature, as to the quality of the uiarblc, the practically illimitable extent of the quarries, and the great facilities that exist for shipping are attached to the

prospectus.

We consider the enterprise worthy the attention of, and encouragement from, all who take an interest in their adopted country. We had forgotten to mention that it is proposed to utilise all the chips and other waste from the quarries by turning them into lime, that made from pure marble being always the most valuable. We are convinced that it is to enterprises such as that to which we have just called attention that New Zealand must owe her financial salvation. It is of no use to sit down and bemoan our fate, in that some pet production, be it wool or wheat, is a drug the market, and " doesn't pay." We must look round and find something that will pay, and expend energy and skill in turning it to account. If he who makes two blades of grass grow in place of one be a groat public benefactor, no less an award must be made to the man, or body of men, who help to turn into wealth resources which but for such development, would remain j for an unlimited time utterly valueless. We thoroughly commend the projected company to our readers' attention. It possesses an influential Directory, which has wisely been recruited from all parts of New Zealand, and the project may fairly bo considered not a local, but a

national, one,