Mr Price Williams on New Zealand Resources.

Te Aroha News, Volume IV, Issue 191, 12 February 1887, Page 1

Mr Price Williams on New Zealand Resources.

Auckland, Feuruary 5. A mfktixg of gentlemen interested in commercial and mining pm.-uit? was held at the Chamber of Commerce at noon to day for the purpose of meeting; Mr Price Williams, the eminent mining expert. Mr John Lamb, President, of the Chamber of Commerce, presided, and there were also present: Mes&rs J. C. Firth, G. Aickin, J. B. Russell, R Spratt, F. Ireland, A. Porter, D. B. McDonald, Walker, J. F Clark, R. Macky, R. Cameron, F. Scherff, C. Alexander, A. Saunders, Orchard, D. G. Macdonald, Jackson, H. Henderson, and other? Mr Lamb having introduced Me Price Will ams, that gentleman spoke fimt on the question of raih\ay management. He was highly pleased with the management of the New Zealand railways, considering the difficulties that Mr Maxwell, the manager, had to encounter He agreed to a great extent with the theoiie* of Mr Vaile, which he considered sound, and the time would come when they would be adopted when the trame increased. He had been surpri.-ed at the vnstness ot the minoal rtsouice.- of the colony, and especially was this the ca-e in respect to coal, and w hen the »un of England was set, that of Ne\s Zealand would be in its zenith. The\ had al^o an abundance of splendid iion vhich, associated with coal, had made England v. hat it was. Notwithstanding these tine resources, he regretted to &ay that they were piactirally undeveloped. It might be heresy to say so here, but he held the opinion that gold WcU« not their chief wealth, lion and coal would be their principal wealth. If the Government would not do something towards developing these resource-, the question aione coula not the Miiplus capital of England be used for the purpose ot a commercial speculation ? It had occurred to him that theie might be a combination of capital with the patriotic immigration scheme now being put forward at home. He had no doubt, if thi- could be done. £10,000,000 or 1T2.000.000 might be raited in England. If a stiw>g body of capitalists of London would associate with leading minds? heie a- directors, he felt certain that that would be the only means of seeming that de\ elopment that otherwise would not come for 2o or .SO year*. He quoted fiom .statistics to show that the mining industry in the colony had been at a standstill. He was sure that there was a practical solution of the knotty problem of how to develop the mineral resources of New Zealand, In concluding, he said that it had occurred to him that the wa«te lancta of the colony might be settled oa the plan adopted by Mr Firth at Matamata, the capital for which project might be obtained from England. He was a member of the Statistical Society, and, if they fell in with his views, he would .it once take step? to bring the matter of such an association befoie the .society. Mr Fircb next addrea.-Ld ihe meeting In the course of his rencades he that he had come to the conclusion that borrow ing muet cease ; that; they must i\st on their oara for a while. He advocated the establishment of a commercial federation between Britain and the columes Britain must show her colonies that it ia better to remain a part of tht> Eaipiro than to be separated from it. If Mr Price v\iiliatns said they must borrow ten or twelve million pounds more, he aaic no But if ho advocated that English capita! be invested here - that a monetary federation bo j formed -ho said >es. Let English money come heio for investment, like it did to America. The English capitalists had hitherto refused to taks a share of j the lU'defined risks that ex^U-d in i the development of a now country, i They ulwaya wanted intt^rest for their money. Ho tha?jked Mr Williams on behUf ot tho moating for hi? remark* Captain f.ich was glad that All- Williams had spokoa approvingly of Mr Vaiis's scheme. He folt Kue ""that nothing would so ai-sift to settle their distant lands aa cheap freights and low i ail way fares. A voto of thanks waa accorded to Mr WiJJmma on tho motion of Mr G. Aickin, seconded by Mr J Koid, Mr Price Williams, in returning thanks, ?aid ho quito agreed with Mr Rich that encouragement should bo given to the sottlcmont of tho up country dißtricts by cheap railway charge* 1 , but it would be necessary firvst to largely increase the popu lation. Mr Firth wished Mr Willtatn^ to take Home this idea, that it" our Ef.giieh'frionde were willing to find the money and tbe men, wo finding the land arid the intellect, thore was room for the investment of their capital. The Chairman said thai, the Counoil of the Chamber would take tho suggestion of

Mr Williams up and would communicate with him in England. A vote of thanks was accorded to the Chairman on the motion of Mr A Porter.