DOMINION RESOURCES.

Hokitika Guardian, 7 December 1923, Page 1

DOMINION RESOURCES.

UNDEVELOPED WEALTH. WELLINGTON. December A. A resolutun urging the Government io take advantage of the Empire Exhibition to press on British capitalists the great potentialities of the Dominion for investments wn> recently carlied by a eo ll leu:nee ol New Zealand Chambers of Commerce. Speaking to a “New Zealand Times” reporter on the subject. Mr A. I.eigh Hunt Plated that wu every hand thromdieuit. the Dominion tie re were undeveloped resources of undcuihiod ruble to British investors. The chief difficulty was the want of capital. It could not ho expected that a country which 80 years ago was in the primeval slat..' could find sufficient capital within it.- boundaries, The Economic Luil’ereilce iesolulioli ; -- f 'November -ml last, by which ilirceI 'piarteis of I lie iutcic.-t for live years ;or tleveiopm. uL works in the Dominion would be guaranteed by the British Government, gave an absolutely unique opportunity for ibis country to sei lire the much needed capital. iPiti.-h investments were still Mowing to foreign countries in greater ratio than fo the oversea dominions. This v.u- entirely due to the fact that New- Zeeland was not placing its potentialities properly before the Biiti-h moiiev market. There worn in this reuiitry iv-otirces which would provide sale and p.olilabh- investments, comparable with any oilier country in the world. Cheap, undeveloped land, water power, minerals. fisheries, etc. The present vacant lands of the Auckland province, with eipital applied fo; development purposes, would, in e. few years time, i" all smiling meadows. The climate, together with clump Nauru phosphates and low priced nitrates which should he available from the water power, would undoubtedly filing about this result, The spirit of the. early pioneers was all that, in addition, was necessa rV. If New Zealand did not secure 15r: tish capital, American capital would undoubtedly come into the country which was undesirable. He urged that a special effort- should be made during the British Empire Exhibition to take advantage of the miqiiifirent offer of Britain, and as a result tremendous progress would obtain during the next 10 voars.