THE PARAPARA IRON COMPANY.

Dominion, Volume 1, Issue 35, 5 November 1907, Page 9

THE PARAPARA IRON COMPANY.

Sir,-4t has .been always a matter of great surprise to me that the present Government; who glory in patronage and giving nice fat billets to their friends and supporters; whether compctont or not, 'have not started these iron works themselves. As for advantage to the country, the result , would; be infinitely greater than the State coal mine (ought it not now to bo called Dominion coal mine), the State fire insurance and life insurance. According'to the report of Mr. G." J: Binns; confirmed by Dr. Bell, there is an enormous "quantity of valuable fron ore lying in; tho Parapara district 1 awaiting. smelting. The prosperity and position of England has been ; due in l the mam to the coal, and iron mines, . arid' here .wo have had the iron ore in millions of' tons awaiting development ever •since the doposits were known. A contract has • been let .to construct a .tunnel under Arthur's Pass at a'price greater than the amount .of the capital required to work the iron • deposits. I'hoso who are now middleaged will be able to see the' difference in value to th« country of- the two works., More mopoy'.'js invested year on the tote than the capitalof. the company, simply; because it is a 7 gamble. " If each inhabitant of the Dominion would: only subscribe to one. share each in the. company the successful flotation in the Dominion would have been ensured, and; all ithe'ibenefit of- such an iinvestment | would have: remained .in it., jln ;view of the proposal just' mooted iii. Australia to have extensive: shipbuilding yards in one of tho Statesjothat.alone should be an inducement to push'.the .work. Tho works will give eniploymeiitto thousands of men; then there are the., miners, . the ordinary labourers, the wives and' families to be fed, thus giving employment to; farmers ;and settlers in growing- foodstuffs.: The shipping industry would be largely increased, the: : ordinary artisan wouldthave plenty of employment, and even the land speculator and builder would have a change.—l am, etc., ' v,': ■ INDUSTRIES WANTED.