MR RHODES AMD HIS SCHEMES

Otago Daily Times, Issue 11455, 21 June 1899, Page 6

MR RHODES AMD HIS SCHEMES

Mr Rhodes's appearance before the meeting of the shareholders of the Chartered Company showed once more, (writes.the: London correspondent of the Argus) how remarkable .is. the fascination of the great empire-maker.'.; The Cannon street hall was not half large enough for the number of persons who 'desired to hear Mr Rhodes's speech;;, and ■.seitts-; were, japught and sold, prior to the■ meeting; for £4 md £5 a-pieee. Some of Uie sharehoklers;,sl«pt in the building in order to.make sure of/.their places. Mr Rhodes began by declaring that a balance between revenue and expenditure: would be very shortly effected,■notwithstanding, the; cost of maintaining 1200 police. The real asset of the country: was in'its minerals. In tihe pal** lie had described their territory as a""1 highly mineralised " country, but he. could'now declare it to be a ".highly payable "'-'^country. He had now no doubt about it that.-Nature had been as prolific'in Rhodesia as in the Transvaal. Already 130,000 claims'had been rregistered within an area of 500. miles <by 200. The market price of five companies, representing 560 claims,, had a capitalised value of £4,605,000, but which started with £1,785,000. The crushing returns of those companies, without cyanide, averaged 14£dwt, asagainst' 9|dwt for the Whole of the Rand u inchidirig cyanide extractions. But the ( most emphatic part of Mr Rhodes's speech "related, to the 'political side of Rhodesia. He announced that he had settled a reasonable rate of ■. telegraphic tariff with Egypt for Ihe .trans-Continental- wire, and, > thanks to the kindness of the'". German people, and the broad-minded character of the German Emperor, he had. made a satisfactory arrangement for passing* the telegraph line through German territory. His remarks about the German Emperor' caused some amusement. He said that " whatever' may have been his Majesty's feelings in the past as to certain little incidents which resulted very unsatisfactory to myself; and which fe Seemed it right to censure, I found him "ar broadminded man, and when "it came' tp a question of developing Africa, and I.appealed to: liim as to. a portion, of Africa which.'was" under his rule, he met me with a breadth of mind which was admirably and-which afforded me every help." After some. very- telling shots at the little Englanders, .and especially ".at Sir W. V. Harcomt, Mr. Rhodes went. on.to explain his negotiations respecting the railway. He had asked the British Government for a guarantee of three millions sterling for the Bulawayo extension to the boundary of their territory, and had met with "a flat refusal," because the Government had feared the. "little Englander. The directors had-therefore decided to build a.line for themselves to the limits of their territory.- The gold companies had already contributed ' £500,000, ' which would carry the lino 150 miles northwards; the remaining 750 miles would cost three millions. Towards that sum Mr Beit Had promised £500,000, some city friends £500,000, and he was prepared to provide £200,0.05. The three millions would be raised by 4 per cent, debentures, issued at £600,000 a year for five years—the period of expenditure and construction. He contrasted with pride his success in raising these vast sums in a few weeks with the experiences of a neighboring State, which had 17 millions a year from gold, but which for two years had been endeavouring to raise two millions upon every bourse, in Europe. He concluded a speech of an hour and a-lialf in length by warning his countrymen against the effects of foreign competition in the colonies, and urging them to improve" their methods of manufacture and business. '