Correspondence.

Lyttelton Times, Volume VIII, Issue 496, 5 August 1857, Page 4

Correspondence.

To the Editor of the Lyttelton Times,

Sic, —I am glad to notice that your " Subscriber" has at length, been brought to a correct way of thinking about " general average." I attribute this, Mr. Editor, to your clear and able article on the subject in the "Times" of the 25th July. You have shewn him how to make the egg stand on its end, and he can now do it very nicely. How difl'erent his last letter is to the first he wrote on the subject! If I understand the scheme before the public, your " Subscriber" is in error if he thinks that the contractors ought to bear the risk of insurance. It is impossible to find any contractors who will bear the risk. I understand the present scheme to be as follows : —The contractors find the capital and receive a bonus of £1000 per annum; the Government and the contractors share the cost of paying the very liberal premium of 10 per cent, per annum to those parties who will insure; and the colonists are invited to insure by signing promissory notes for small amounts; which notes will only be used in case of accident. I believe, Mr. Editor, that the colonists generally wish to have local steamers, and, unless these promissory notes are filled up we shall not have them. But I think it would be unwise for the Government to tax or compel the inhabitants to contribute, if they will not do so of their own accord.

Your "Subscriber" must permit me to remind him that, until he started a groundless or badly denned objection to this "good and go-a-head cause, I did not put myself forward as a champion to defend it. His allusions, therefore to my apparent eulogistical style are out of place He appears to wish to know my name; and I will permit you Mr. Editor, to publish it, provided Subscriber " will allow his to be published also. I gladly suggest this, as 1 fancy " Subscriber" is interested in having sailing vessels instead of steamers • and I tell you candidly, Mr. Editor! that I am interested in having steamers instead of sailing vessels, and I think that most of my fellow-colonists, especially the squatters on the coast, ought to be also If

youv subscriber will publish his nameTT'i be glad to discuss with him the resnpfmerits of steamers and sailing vessels 71 wishes to do so. ' v he

I remain, Sir, Your Obedient Servant STEAM, STEAM, STEAM.