South Canterbury Times. MONDAY, JUNE 28, 1880.

South Canterbury Times, Issue 2271, 28 June 1880, Page 2

South Canterbury Times. MONDAY, JUNE 28, 1880.

Ik there is one thing more than another which deserves encouragement and awaits development it is our intercolonial shipping. To a colony like New Zealand, teeming with mineral wealth, and within a few days sailing of a most important group of colonial settlements, our intercolonial mercantile fleet is a mainspring of wealth. It is to be feared that while we have been straining our credit abroad for the purpose of constructing roads and railways, we have been paying top little attention to natural outlets. We have been developing internal commerce, forgetful of the fact that a self-consuming trade is opposed to natural law and can only result in disappointment and disaster. Why are the coal mines of the West Coast slumbering mines which, in in in view of the wants of adjacent communities, should form a permanent pillar of wealth to New Zealand ? Why are the magnificent lodes of copper and silver and other minerals with which the western portion of this island is enriched, neglected ? Simply, we submit, because while we have been introducing machinery for the development of colonial products, the necessity for keeping the highway that connects us with other populations busily employed has been ignored. Had a small fraction of the money that has been spent during the past ten years in bringing immigrants to New Zealand and in the” construction of roads and railways and bridges, been expended in the establish-

ment of a mercantile fleet, the colony, we have no doubt, would be in a far more prosperous state than we find it, and instead of men crying out for employment, an extensive field of labor would be constantly at their disposal. The depression from which the country is now suffering, will probably not be an unmixed evil. Already there are evidences that eventually it will be pregnant with beneficial results. The achievement of these results depends very much on the way that private enterprise is hacked up by the public. Except in extreme cases the Government would scarcely be justified in travelling beyond its legitimate functions, in order to assist industrial ventures, but there arc powerful reasons, at the present time, why the State should render some assistance, in the development of those pursuits and resources on which the future of New Zealand must largely depend. A considerable per centage of the money that is now being spent on keeping up a standing army in the North Island and in relief works in the South is practically wasted. Could not some of this expenditure be diverted to the "West Coast in connection with our coal mines? If all the members representing West Coast constituencies were only as thoroughly patriotic at heart as Mr Reeves, we have no doubt that these mines, instead of languishing as they have been for years past, would speedily be in full work. But why are they languishing ? Is it because their prospects arc discouraging ? Just the contrary. These mines arc capable of yielding the most magnificent results, but before large profits can be expected, a considerable expenditure of capita! is necessary. It is no use attaching a pony to a waggon-load of produce. This is what we have hitherto been doing with our coal mines. Were the capital which is regularly invested in largo estates, and in Insurance and Bank shares, placed at the disposal of the'AVcst Coast mining companies their works would now be in full swing, and instead of taxing ourselves in order to keep faith with foreign bondholders wo would bo drawing a princely revenue from outside communities.

It will naturally be asked —in what way do wc propose the State should interfere? Well, we should not suggest for a moment that the Government should put money directly into private pockets. This has already been done in a variety of ways, and instead of enlarging the evil wc should rather sec the abuse diminished. AVc ask the Government to offer no bad precedent, such as was olfered in connection with the “ Big Pump ” at the Thames —a job which was at once as corrupt as it was gigantic. But wc consider, since private enterprise has proved too faint hearted in the matter of developing our coal and copper mines, that in view of the magnitude and certainly of the advantages likely to be realised the Government would be justilied in leading the way. The huge dividends that have lately been realised by the holders of bank and insurance scrip have rendered capitalists in the colony excessively nice and cautions about investing in manufacturing or mining schemes. They must Jirst be assured of the perfect safety of their venture, and then they must be satisfied that thcresnltwill be lucrative. AVe do no suggest that the Government should even act so liberally towards mining shareholders as they have done towards the investors in district railways, who in in return for the enterprise displayed in improving their estates arc having their works completed at the cost of the State. AA r hat wc would suggest is that the Government might vary their orders for railway engines and carriages by having a few suitable steamships, either built in the colony, or procurred from abroad and placed at the disposal of our mining companies, on terms that, while liberal towards the latter, would also assure the Government against ultimate loss. The amount of money spent monthly in opening up useless roads in the North Island, would go far, if applied in the way wc suggest, towards developing our mineral wealth and scattering peace and plenty all over the land. A gentleman in this neighborhood has taken the pains to ascertain from a reliable source in Great Britain, the cost at which steamers suitable for the trade referred to might be procured. Ilis clients intimate that boats carrying 400 tons, two or throe years old arc procurable at £GOOO each, while steamers of 1000 tons carrying capacity suitable for colliers, may be purchased at 418000 to .£9OOO. If the money originally spent on the .Stella and Hineinoa had only been laid out by the Government in procuring steamers of the description wc suggest, and the money since squandered on their maintenance had been devoted to the promotion of a healthy trade with the Australian colonics, the mines of Now Zealand 'would now be in full work, and labor, instead of begging in vain for employment, would probably, at this moment, be in active request.