DOMINION’S HIDDEN WEALTH

Otago Witness, Issue 3581, 31 October 1922, Page 62

DOMINION’S HIDDEN WEALTH

SCHEME TO EXPORT MINERALS. WELLINGTON, October 24. The exploitation of mineral land and other little developed resources of the dominion were discussed at a conference to-day. 1 i*o principal object of tho meeting was the formation of a company for the purposes c>f sending a mission to Great Britain to secure the necessary capital for working the country's hidden wealth. Mr E. Newman, M.P., who was voted to the chair, was tile convener of the conference. Mr A. 1/. Hunt said that a large amount of British capital was being attracted to foreign countries. For this reason investment in Empire possession was to be expected in preference. Though small in size and distant from the great centres of the world, New Zealand was lavishly endowed by nature, and not the least important natural asset was its water power, which the Government could not hope to develop fully. It was possible that in the near future the dominion would be a large exporter of iron and other minerals. The thing to be ascertained was just how many good things the country had to offer. These should be worked for all they were worth. 'lhcy should be thoroughly investigated, grouped, and marketed collectively. Government support and prestige should be secured to back them up. Gold, silver, and similar products had been omitted from the scheme, said Mr Hunt, as it was considered advisable to eliminate speculative ventures. Nothing should he taken up and worked unless it could stand an absolutely rigid lest, 'there were several other speakers. Mr J. W. Collins, of the Department of Industries and Commerce, spoke optimistically of the proposal, an<l wished it every success. '1 h>* principle of sending the mission to Knuiand under Government warrant, to be financed by tVie ir tei dorsed. The general proposal was adopted.