South Africa.

Manawatu Herald, 9 May 1903, Page 2

South Africa.

The Afrikander Bond Congress, amid much cheering, altered the Bond Constitution so as to describe the Bond as “the Parliamentary Party of South Africa,’’ not “ Afri* kander,” thus formally accepting the settlement policy and affirming" the Bond’s aspiration for federation on the Australian and Canadian model. The Congress opposed forced labour and the importation of Asiatics, and declared that there was plenty of labour to be obtained in Africa under good and liberal treatment. THE LOAN FOR THE NEW COLONIES. In the course of a speech which elicited warm commendations from both sides of the House of Commons, Mr Chamberlain explained the resolution guaranteeing the “ development loan ” of thirty-five millions for the Transvaal and Orange River Colony. The loan, he said, was asked for conditionally upon a contribution of thirty millions towards the cost of the late war, the latter loan being derived from a future loan secured on the resources of the Transvaal. The realisation of the enormous potential resources of the Transvaal, Mr Chamberlain said, would require similar treatment to Australia and Canada. State intervention was needed in providing the required capital to enable South Africa to find her own necessaries, which must be done before she could ever oocome an important exporter. Mr Chamberlain went on to say:— “The Motherland treats her new colonies—apart from direct Imperial interests—as self-governingcoantries, which is the only wise and the only possible policy.” The bulk of the “ development loan ” would be devoted to the discharge of existing liabilities, the readjustment of present charges and the refund to the Imperial Exchequer of six millions already advanced, so that the Motherland will actually receive thirty-six millions instead of thirty millions. The Transvaal Government would also, the Minister said, pay two millions as compensation to loyalists for losses incurred during the first Boer invasion. Furthermore, said Mr Chamberlain, the conversion of debts and the purchase of railways would leave nine and a half millions, whereof five millions would be devoted to the development of the railways, two and a half millions to land settlement, and two millions to roads and irrigation purposes. . The services of the loan, Mr Chamberlain explained, would absorb one million four hundred thousand pounds per annum, calculated at 4 per cent for interest and redemption. This would be a first charge on an Intercolonial Council of the two colonies and subsidiary Transvaal revenues. Mr Chamberlain concluded : “It is estimated that after three years, with assistance from the Transvaal surplus, the loan will leave a surplus of three, hundred thousand pounds for the farther development of the country. This marvellous result is due to Lord Milner’s energy, ability and unexampled devotion.” The resolution was agreed to without a division.