The Hastings Standard PUBLISHED DAILY. FRIDAY, MAY 22, 1896. FOREIGN CAPITAL FOR NEW ZEALAND.

Hastings Standard, Issue 23, 22 May 1896, Page 2

The Hastings Standard PUBLISHED DAILY.

FRIDAY, MAY 22, 1896. FOREIGN CAPITAL FOR NEW ZEALAND.

For the cause that lacks assistance, For the wrongs that need resistance, For the future in the distance, And the good that we can do.

The booming of New Zealand mining properties at Home and abroad bids fair to mark a new era in the prosperity of the colony. And the introduction of foreign capital comes not before it is wanted. The cry that capital was being frightened away from New Zealand on account of the actions of the Seddon Government is heard no more. The colony is now looked upon as a likely spot from which capital can

commercial world seems to have its eyes turned towards us. England and France have supplied much of the capital required for the purchase of the Reefton mines ; South Africa and Germany are holding big interests in the Coromandel field; and foreign speculators are now touring the colony in search of other safe investments. The London Sun predicts a big future for New Zealand, and the Financial News, a journal not given to booming this colony, points to the many good prospects for investment. Claims in the Coromandel district are being floated in the Home market almost daily, and the large influx of foreign capital must have an appreciable effect on the prospects of the colony. What our future may be is, of course, problematical, but the experts who have visited our fields are satisfied that the quality of our quartz is superior to that of South Africa, and it may be mentioned that eight years ago Johannesburg was almost unknown ; now, the mining companies working there represent a capital of over £30,000,000. One mine alone has a capital of close upon £3,000,000. With foreign money looking for investment at as low as 2:} per cent, and the consequent opening up and working of our extensive goldfields, who can tell what the future may not bring forth ?