TE AROHA S. AND G. MINING CO. AND THE GOVERNMENT.

Te Aroha News, Volume VII, Issue 467, 30 April 1890, Page 2

TE AROHA S. AND G. MINING CO. AND THE GOVERNMENT.

[To. The Editor] Sm, —The proposal* of the Te Arnha S. arid G. Mining Company to the Government, ns I understand them, seem nitidi more liberal and business like than demands to aid goldmining' have hitherto been. The Government being generally failed on to give all or most of the cash required. But the Company, it is said, offer to' spend L 30,000 of their own money if the Government will lend them LIO,OOO to make a low level tunnel to render available the vast net work of mineral bearing reefs in the Aroha mountain, so as to enable these to be wrought to the best and most economical advantage. If this proves successful the LIC,OOO to be repaid to Government, but if a failure the Government to lose the LIO,OOO, while the Company lose L 30,000. But what I wish to point out is that if the Government accedes to the proposal it means the expenditure of £40,000 in the Colony, three fourths being foreign capital, and half or probably more of the £40,000 will eventually be spent in the purchase of dutiable goods, which at twenty per cent duty, would recoup the Government near half their advance, and of the balance of the £4U,000 some doubtless would come to the Government for the purchase of Crown Lands. This is putting it as it wou'd be if “ the worst should come to the worst.” But if a success, the Government stand to win the £IO,OOO back, a largo increase of customs and territorial revenue present and permanent, and tho benefits from the continuous employment of a large and increasing population. It seems to me that in the public interests the Government will be to blame if they do not accede to such a generous offer, which may, at so . small a riak incurred by tha public as compared by that of the Company, probably produce such beneficent, results. It is no reply that some £27,000 of Government and our County, money has been lost oft the tramway ; like much of our.Piako County expenditure the money has been fooled away, and if' the Piako County had to do with spending the money I would say do not g re.a penny. But the Company gives the best guarantee of prudence and good management. L 30,000 was voted last session to hegiven to open up roads on goldfields,where could LlofK)ot be better expended than in heing lent to pay one fourth the cost of making a road into known mineral reefs, to render them available to add to the labour employing and wealth producing resources of New Zealand. —I am etc, War. Anon Mo-bbay Mount Pleasant, Piako. 1