THE New Zealand Herald AND DAILY SOUTHERN CROSS. SATURDAY, NOVEMBER 16, 1881.

New Zealand Herald, Volume XVIII, Issue 6249, 26 November 1881, Page 4

THE New Zealand Herald AND DAILY SOUTHERN CROSS. SATURDAY, NOVEMBER 16, 1881.

If there is anything which brings conviction to the mind of the observer and thinker of the largely increased prosperity which awaits Auckland—the reasonable probability of its becoming the premier city of New Zealand—it is the enormous possibilities connected with the district of which it is the representative, the numerous undeveloped resources. It must be admitted that the development of industrial opportunity is extremely slow. We avail ourselves of every opportunity, turn to account every incident to divert public attention to the directions in which capital may be profitably employed, but the average Englishman— a term now used as typical of the three nations—is beyond measure slow to move out of the accustomed groove, and so probably the best thing that has been achieved by the persistent effort has been to induce experiment by an individual here and there, and set some minds thinking that would otherwise have boon inoperative or laggard, Persisting as we have persisted, something tangible will eventually be the result. That best encouragement to sustained effort, the eventual effect on the stone by the dropping of water, tells us what may be done by persistency. Importunity not unfrequently wrings from us assent that we may be rid of a nuisance. It is not surprising that so little, almost nothing, should be done for the development of those products of the earth for which the climate is adapted, because, together with a want of knowledge and the predisposition to continuo in tho anciont grooves, there is a disinclination to encounter risks with regard to the unknown. The man who welcomes the totalisator and is quite gonial with regard to a " consultation," turns away from the olive and sericulture, which offer him largo sustained gains, but not the leap to fortune which

may attend gambling. It may be long before -we see any serious effort to acclimatise in this district the products of southern Italy, and other climates similar to our own, unless taken in hand by foreigners familiar with them, or by companies dividing amongst many shareholders the risk from which the individual shrinks. Wo look to associated capital to prove the problem which detors the unit. But in this respect there is a lamentable want of public spirit, or it may be the want of some one to bell the cat. The last probably more accurately represents the position, for we iiruily believe that i£ any one having on orgy and possessing public confidence wore to take the matter in hand, he would find a sufficient number of persons content to risk a little, with the prospect of doing the district and themselves a great good. And why not ? Thoy take shares in mines with the result of the venture extremely problematical; they invest in many other institutions carried on by associated capitals offering no such prospects of profit as many of the neglected resources afford. It is comprehensible why there should be reluctance to undertake novel ventures requiring experience, in vliich here nothing has been attempted, aii I with respect to which as success is

not certain so the amount of capital that may be required cannot at first be exactly estimated. But none of these reasons apply to a woollen factory, and it does not say much for the enterprise of Auckland that whilst there should be more than one in the South, and Geelong, the slowest place in "Victoria, should have four mills, two the property of companies and two of private individuals, there should not be one here where the opportunities are equally or more favourable. The local market is inundated with the tweeds of all sorts of places instead of being occupied by our own. We hear something occasionally about home production, but if these persons, instead of torturing afresh the exploded theory of protection, would lend a hand to establish a woollen mill, they would render much better service to their neighbours, and be a good deal more practical. On Thursday last the annual meeting of the Mosgiel Company was held at Dunedin, and the report disclosed the success of this sound and stable venture. It is not «asy at the present time, and is likely to become increasingly difficult, to invest money safely and permanently, and get ten per cent, for it. Yet this dividend is announced by the directors of the Mosgiel Company to their shareholders, whilst JS3OOO is added to the reserve fund, which now amounts to no less than £10,000, and £1480 is placed to the credit of profit and loss. Here we have an industry the success of which is demonstrated, and if public spirit is not a sufficient inducement to excite local imitation, self-interest ought to be an adequate motor. Here is ten per cent, going abegging with abundance of money invested a*-, a considerably lower figure. It woulu puzzle anyone to advance a single reason why, if ten per cent, can be made in Dunedin, it could not be earned in Auckland. The advantages and opportunities are, in no respect, Inferior, and, as regards the use of

they are superior. The operative:, are the backbone of Manchester and Oldham and many another town, because of the large sums weekly paid in wages, and widely distributed amongst tradesmen. It is exactly the opposite of squatting, in which very little labour is employed, and the large profits go into a few pockets. A woollen factory brings into use labour which is otherwise not profitably employed or not at all. As at present conducted the manufacture is divested of its objectionable features. The mills are heel thy. and the work not unrc-a.scnably 'laborious. The operatives earn good wages, and have permanent employment, and the family is enriched, and the domestic circle preserved, because frequently not only the father but some of his sons and daughters work in the same mill, their aggregate earnings thus reaching a goodly sum. Previous attempts to establish a local mill have failed, but ' unless it is to be assumed that it is impossible in Auckland, there is no means why this should deter from further effort. Rumour says — and 1 though amazingly mendacious the jade is not always untruthful—that the interests of some of those -who could best aid the venture, instigate them to do their utmost to defeat the project. But surely the welfare of the townspeople is not to be sacrificed to the interests of a few individuals. Ten per cent, to be earned should be. a fit match for rmy antagonism.