THE Grey River Argus PUBLISHED DAILY SATURDAY, JULY 11, 1874.

Grey River Argus, Volume XV, Issue 1851, 11 July 1874, Page 2

THE Grey River Argus PUBLISHED DAILY SATURDAY, JULY 11, 1874.

Notwithstanding the physical defects in the conformation of its harbor there are few Colonial settlements that have made more rapid progress since its establishment, or attained to a greater degree of prosperity, than Greymouth can show. This is in a great measure attributnble to the excellence and extent of its alluvial and quartz gold-fields, with some assist- , ance from the coal beds of the Grey Valley. Unfortunately, Colonial history teaches us that towns' which start into ! existence and are supported solely by a gold-mining population never attain to any degree of permanency, but sink into oblivion almost as quickly as they rise. So that if Greymouth does not share this ephemeral life in common with other goldfields towns, it will be owing to the use made of its exhaustless coal measures. What is there to prevent this nucleus of another Newcastle from becoming a forI midable rival to its older brother of New South Wales? Apparently it wants r nothing but harbor works for the least sanguine amongst us to picture to himself fleets of vessels with forests of masts lying in our harbor j coal-laden waggons, with engines puffing and snorting, rushing furiously on to their destination/ thence to be conveyed to every port in New Zealand, and many in Australia, China, and Western America. Without wishing to damp the enthusiasm of those who have a belief in the early construction of harbor works, we cannot help seeing, and' circumstances tend to show, that it will be a long time, many years, possibly,/ before they are finished. Suppose this opinion to be correct, what is to be done in the interim, and between their commencement and completion, will it be politic for the present state of things to continue while a work of such magnitude is under way ? Would it not rather conduce to the benefit of those interested in the coal trade, and that will include the whole of the residents of the district, to make an effort to increase it, than stand by in apathetic indifference, and see others get the start. A glance at the capital at stake which cannot be much less than 1/100,000, will show that the necessity for action has never been so much called for as at present. First there is the Brunner Mine which has yielded a fair profit to the proprietors, who, content with the modest trade providence has thrown in their way, have never sought to increase it; next is the Greymouth Coal Company, whose coal will soon be in the market, followed- elbsely by that from the Coal j Pit Heath Company. So, it is apparent, that unless these Companies choose to work their mines at a loss they mu&t have a trade equally as large as that of the Brunner Mine, for it will be absurd to think they will be satisfied to share the trade amongst them, and have a third each of 13,000 tons annually. But, however improbable this may appear, it will be the case, unless a very marked and important change takes place in the method of conducting the trade. : The question naturally suggests itself— What is to be done 1 What possible substitute is there for harbor works. There is really no v efficient one ; but steam colliers would be the means of opening up the. trade and employing a large coalmining population if. a sufficient number" were laid on, 'lhey would make us in a measure independent of harbor works. In the fullness of time when the usual amount of talking, writing, and surveying had been done, and they were at length completed, these vessels would still be . of , use. Careful inquirieß and calculations

show that the cost and working would be something like the following : — Cost of vessel, 400 tons ... say £8000 Captain, L2O per month ... £240 Chief Engineer, .L2O do ... 240 Second do, Lls do 180 Mate, Llsdo 180 Cook and Steward, Ll2 do ...■ 144 Pour Firemen, Ll2 do ... 576 Six Seamen, L 8 do 576 Provisions ... .;. ... 500 Coal 880 Repairs, &c 484 Total ... £12,000 The number of trips would be for the twelve months : — Nelson 44 Wellington ... 36 Auckland 30 Lyttelton 30 Dunedin 30 This would average 34 trips all round. Thirty-four times 400 tons gives a total of 13,600. The coal purchased in Greymouth at the maximum price of 14s, and sold at the minimum of 28s, would yield the respectable total from one vessel of i>9520, which could be further supplemented by return freight up to £1 0,000. Deducting for working expenses, &c., and say £2000 for reserve fund and insurance, there is a clear profit of £4000 left, or 50 per cent, on the capital invested. Trusting that some of our local capitalists will take this view of the situation, and give practical effect to the suggestions here thrown out, we place the scheme before them as a fitting outlet for legitimate enterprise.