The Evening Star SATURDAY, FEBRUARY 28 1874

Evening Star, Issue 3439, 28 February 1874, Page 2

The Evening Star SATURDAY, FEBRUARY 28 1874

There is not much suggestive of comment in the report of Mr Vogel’s speech at the Thames. The chief topic, and that most interesting to those present, was the proposal to aid in developing the deep leads of the Thames district by advancing money for pumping operations. We do not know the terms on which the companies were to have the use of the money, nor the prospects of its repayment; but we cannot go the length of the wholesale condemnation of the arrangement by the ‘ Guardian.’ Our impulsive morning contemporary pooh-poohs the idea, because it is affirmed to be a most dangerous principle to assist mining companies in that way. It is characterised as entering into partnership with the Thames Pumping Association. Our contemporary admits that the development of mining at “ low levels ” is of “ very great importance to the Colony,” and then asks If the Thames Pumping Association is to be helped in this way, why not make advances to Otago and Westland mining associations ; and if capital is to be found by the State to aid mining operations, why not make advances to our farmers and mechanics ? In shore, we do not well see where to draw the line. The question naturally divides itself into two parts, to each of which very satisfactory answers may be given. In the zeal with which the ‘Guardian’ combats the idea of aid to the Putnpin or Association, it forgets that the principle of assisting in developing our goldfields was acknowledged when a vote of L 300,000 for water supply and improvements was passed by the General Assembly; it forgets that Otago and Westland have had assistance both from the General and Provincial GoThere is, undoubtedly, a technical difference between supplying water and getting rid of it; but we do not see any departure from the principle. Assistance has been given to making a sludge channel at Naseby ; assistance was given by the Provincial Government to sinking a prospecting shaft at Wetherstone's; and were it proved that any great number of acres could be reclaimed from a condition of swamp, and converted into rich agricultural land by assistance in the construction of pumping machinery, and the Government be recouped the money advanced, with interest, no doubt it would be to the public advantage to lend it. This at once suggests the answer to the second part of the query, and supplies a reason why money should not be advanced to farmers and mechanics. The case really stands thus: Farmers purchase their land subject to conditions capable of being ascertained. Practically, there is no uncertainty about it. They can estimate to a trifle what its capabilities are, what it will cost to clear, to fence, and to work, and there is a contract made by which the Government transfers it to them with all its advantages and drawbacks. It therefore at once ceases to be of any public interest. All that is produced off it is for absolute private profit, and therefore he who reaps the benefit is justly entitled to provide the capital. Precisely the same argument holds good with mechanics providing their own tools. They give no portion of their earnings to the public, except their portion of'the common taxation, and therefore tli3 public are not interested in providing them the means of following their trades. The line then which may be fairly drawn is,' that it is permissible to advance money for the development of the value of the public estate; but not for merely private advantage. This principle is no doubt abused; partly because it is not sufficiently appreciated by our legislators, and partly because most of them are deeply interested in forgetting it. It is overlooked when large landed proprietors throw upon the public the expense of making railways, instead of bearing so much of the cost as is justly due from them, in proportion to the improved value of their property. They bought it subject to the condition of access to it by a bush track, or at the furthest a macadamised road. The public provide an appliance tending to multiply the value of their property tenfold, and some of them shut up their pockets and will not pay one farthing of the cost. The pumping associations look ultimately to private profit; but assuming their expectations are realized, it can only be. through rendering ground valuable which is at present worthless, and which very likely may remain worthless for ages, unless opened up in this way. If they succeed, a large

population can be supported, and large additions to the wealth of the Colony will result. If ten men live and make fair wages where none can be supported now, so much greater will be the revenue, so much greater the addition to a labor employing fund, so much the increase of national capital. The public have, therefore, a joint interest with the projectors in the undertaking, and the only care necessary is to see to it that there are good scientific grounds for anticipating success. In our opinion, much is to be done in this way that has not been done. We do not make the best of our national estate. Its prospecting is left too much to the private enterprise of what are termed practical men; and in consequence tens of thousands are wasted in ill-directed effort, where thousands might be sufficient. We have no system. A given sum appropriated for well-directed prospecting need never be wasted. A lead discovered, plenty would be glad to work it, and to contribute so much of the yield as would recoup the expense of finding it. The appropriation need not be repeated if judiciously worked. Miners would save time and anxiety, and would be able to go into profitable employment at once, instead of wandering about the country, looking for what they may never find. The same may be said of coal and other minerals. Let them be found, and plenty would be ready to work them on equitable terms. Under our present practice there is too much haphazard— too much guess. In all mining there is risk, for we cannot say what is beneath the earth, as a farmer can estimate the value of what is on the surface, but, in our opinion, one duty of Government is to reduce the risk to a minimum, so as to give stability and profit to all our industries. By such a system, investment would be divested of much of its speculative character, and the public estate would be utilised to the utmost.