COLONIAL CORN LANDS.

Evening Star, Issue 11696, 30 September 1902, Page 1

COLONIAL CORN LANDS.

ffc L °iT C L¥ ,^ h ' un mvLch desires to ascertain the best Und most expeditious n; bTwhiSi thTn%?£ 1 * COtn in "** Connies «nd bT<w£ Potions. He trunks it mi*at ba done in two ways-A-iz., by the company n«^S, a T^" 1 ■*•* on *** °™ account, Si 1% : "S the samc time dividing other ™ nto ff™». and building homesteads h^h»«"f d * whea com P"et* »*n*g or leasing them to fanners. But. wishing to have i Ma . f^ lest P°»'We information on 1 r^? Uun fT^? to il - •*«* noble lord offers "? ? <i f 100gs for the bes t treatise on the subject, to be sent to Swinton on.or before the end of September. The award will be made by Lord Mashani, aided bv a committee of " experts." * At i.regards the details of the scheme t<ord Masham has in contemplation, His Lordahio writes:— What I propose would be to form W v^ h a of not less than £10,000,000 '(it would probablv take £20,000,000, but £10,000,000 might do for a trial as a beginning), for growing com on all suitable land in the colonies and British possessions, on the condition that the Government would guarantee the company 6 oer cent, on their capita] for ten years, and 3 per cent, for another ten, and guarantee a duty of 3s on com for twenty. On those conditions, and in order-to give theru a start," I should be prepared to tak* £500,000. I don't, suppose that the Government would be called upon for a sixpence; but seeing its vast national importance, capital may fairlv and justly claim to be relieved from risk. It cost the United States at least £40,000,000 to shut out British iron in order to make it within her own borders; but it has been a famous investment of money, for I should say that it now produces yearly that amount of national wealth. And if England were to spend double that amount—or, say, £80,000,000 —to supply herself within her own borders with the food she must have, it would pay her better even than America has been paid by her iron industry. What we have to do is to formulate with the least possible delay some scheme by which we can with certainty in ten years practically supply ourselves with nearly all that we should require, and this would give our shipping thiv finest and safest carrying trade in the wcrld, and wonld enable England to be lii'stiess of the seas for agos to come; and thuj-, having regained our bargaining power, we need not fear anyone." Lord Masham's project is a big one, and may prove commercially feasible. But his notion thafa 6 per cent, guarantee for ten years and 3 per cent, for the next ten wo"ld ba for'one instant considered by any British Government is simply preposterous. A 3 per cent. Imperial Government guarantee for twenty years would be more than sufficient, to produce for the syndicate any amount of capital.