NEW ZEALAND MINERALS

New Zealand Times, Volume XLIX, Issue 11254, 5 July 1922, Page 5

NEW ZEALAND MINERALS

CAPITAL FOR DEVELOPMENT ENGLISH MONEY AND MACHINERY WANTED. POSSIBILITIES OF FUTURE. Attention was called to the vast mineral resources of New Zealand yesterday at the welcome given to the British Empire Exhibition Mission by the Chambers of Commerce and Industrial Association, and it was stated that English capital and machinery was badly needed to reach only a portion of hue vast mineral wealth of the Dominion. After Major Belcher had given his address, reported elsewhere, Mr C J. Ward, president of the Wellington Industrial Association, said they oould see difficulties arising in the project. What benefit would secondary industries derive from the exhibition ? He had no doubt that question would be adequately dealt with before the departure of the mission. He moved hearty thanks to Major Belcher for his address, assuring the hearty co-operation of the interests represented that day in the British Empire Exhibition enterprise. They would afford the Government every assistance in organising and arranging suitable exhibits representing the Dominion’s resources. IRON, COAL AND MARBLE. Mr heigh Hunt, chairman of the Central Chamber of Commerce, in seconding the motion, welcomed the high Imperial note which Major Beleher had struck. It was impossible to get population until they had the industries going, and capital was required to do that. The exhibition should he taken up with the idea of advertising, not only the primary productions, but the minerals, such as iron, coal, and marble. There were 250 million tons of iron waiting to be developed, hut how long would they have to wait if they depended upon New Zeal and capital ? There was marble in New Zealand equal to the finest Italian marble, but capital was necessary. They must advertise the possibilities of the Dominion in these respects, take specimens with analyses and secure British capital to develop them. They must treat the English capitalist in a different manner to that of the past. He must be given a welcome and some security of tenure, for we in New Zealand only wanted fair and reasonable terms on which to resume the industries if desired. It had been said that the hydroelectrical possibilities of New Zealand were greater than in any other part of the world, hut he thought the time had come when this matter should be taken out of Government hands, although he recognised that the Government had done great work for the country in this respect. They must have British capital and: British machinery to develop this power, and he hoped all this would not be overlooked in connection with the Exhibition Mission, for it was of the greatest importance to the Dominion. The motion was carried unanimously. ATTRACT BRITISH CAPITAL. Major Belcher, in resrxmse, said he did not yet know much about New Zealand’s secondary industries, hut gave particulars as to what South Africa and Australia were doing, as .published in yesterday's “Times.” Their manufactures should be included in the exhibition, not because they could expect to develop British markets for their manufactures,, but they would come before buyers from all parts of the world and would attract British capital for the development of secondary industries. The day had long gone by when the Dominions were considered to be a dumping ground for British manufactures, for as New Zealand developed her own resources she would develop her secondary industries, and this was bound up in the growth of population. The speaker referred to the development of hydro-electric power in Tasmania, and the way in which it had attracted large factories which made use of the power, instancing the building of the Cadbury-Fry-Paseall factory as an example. A VIRGIN MARKET. There must be a great future for New Zealand, with great possibilities for fruit. The market for fresh fruit and jam was limited, tout the market for canned and dried fruit waa almost limitless, and there were virgin markets in England waiting for the Dominion to conquer. When the visitors were at the exhibition and attending the restaurants in their thousands, let them see that the Empire can supply canned and dried fruits just as well as California. (Applause.)