WEST COAST BULLER COAL RESERVE ACT.

Nelson Evening Mail, Volume II, Issue 12, 15 January 1867, Page 3

WEST COAST BULLER COAL RESERVE ACT.

To the Editor of the Evening Mail. Sir —Of what use are the Buller coals to the Province of Nelson ? Although, in a commercial point of view, it has been shown that for steam purposes they are equal to the celebrated Welsh coal, yet they have not been put to any practical use. I venture to assert they will remain in statu quo for years to come unless more lib'-'ral inducements are held out to capitalists thau the Buller Reserve Act sets forth. What militates against any undertaking most, iu my opinion, is the Government are not sufficiently liberal to induce capitalists to make ventures iu it againsl Newcastle, New South Wales. We must not lose sight of facts. In New South Wales capital can be had at 4| to 5 per cent, while here, from the demand upon the limited capital, it is worth 12£ to 15 per cent. Vessels can be chartered in New South Wales upon very much easier terms than in New Zealand, arising from the number in Sydney, and the harbor of Newcastle being very much superior. No doubt the Buller is a very fiue river, and well sheltered; and any vessel drawing 11 feet would have nothing to fear in going in and out. The Government are well posted up, from surveys, etc. they have made, in the cost of railway to this port and mining coal. lam quite certain the members of the Council would indemnify any Government to treat it as one of those reproductive works which Government are expected to carry out, or offer an inducement to a company of one acre for every two pounds that they may lay out in opening mines. This or something of the kind must be given if ever your coal mines are to be turned to any practical account. I am, Sir, yours, VIATOR.