THE PREMIER

New Zealand Mail, Issue 1612, 21 January 1903, Page 21

THE PREMIER

GREYMO (JTH, January 16. Mr Seddon wa3 entertained at a banquet to-night. Crowds were unable to obtain admission. In the course of his remarks, the Premier denied most emphatically that he ever sounded underwriters in London regarding a loan, or ever approached them in any way. On the eve of his departure, certain statements were sent Homo regarding the “ national purse ” which were quite unwarranted, and sent solely to prejudice him in the eyes of the world. He went Home not as a party man but solely in the interests of tho colony and the Empire. Of twelve resolutions passed at the Imperial Conference, six emanated from New Zealand. He denied in most empharfo terms that ho ever intended to leave New Zealand and go to South Africa. Tho financial outlook was, he said, bright. The past nine months’ returns pointed to a surplus equal to, if notgreater than, last year’s. Everything looked prosperous, and if lie was speaking to a company, he would say there would be the usual dividend. This year £700,000 would be spent in throwing land open for settlement. He hoped to see coal shipped from the States mines in nino months. He would get all the coal trucks made in New Zealand, and promised that the Government would be more active in future in assisting in the development of the resources of the colony, such as gold, coal and timber. He expected on his next visit to inform them that a gang was working at the Otira tunnel on the Midland railway. MR SEDDON IN REPLY TO CRITICS Special to the “Times.” GREYMOUTH, January. 15. At the banquet tendered to him at Greymouth to-night, the Premier, speaking in reference to a letter from the Hon. W. McCullough (Victoria), which appeared in a Wellington paper, said he accepted Mr McCullough’s denial that he had never stated that Mr Seddon had attempted to float a loan when in London and failed. This, how.ever, had been stated. It appeared in print, and was attributed to Mr, McCullough. The Premier also said he had never sounded or asked any underwriter to undertake floating a loan during the period he was in London. To have attempted to float a loan or to have sounded Underwriters for them to secure the floating of a loan during that period would have been tho height of folly, and would have been an admission of ignorance of the condition of things financially then obtaining. It was well known that the underwriters of the Victorian loan could not unload, and in any case the authority of the New Zealand Parliament for a loan was not given until some time after ho (Mr Seddon) was in London. The elastic condition of the colony’s finances at tho time were so favourable that na sacrifice such as would have been entailed Avas necessary, and Avlioever the friend referred to by Mr McCullough may have been, he Avas in error in what he told Mr McCullough. Underwriters, as a rule, do not tell everyone their business. The Agent-General of New Zealand was always Avell advised as to the state of the money market, and so. was he (the Premier) during the time be was in London.