THE NEW ZEALAND FLAX, PHORMIUM TENAX, OR NEW ZEALAND LILY.

Taranaki Herald, Volume VII, Issue 320, 18 September 1858, Page 3

THE NEW ZEALAND FLAX, PHORMIUM TENAX, OR NEW ZEALAND LILY.

To tlie Editor of the taranaki herald.

Sir, — Having well considered and matured the subject of carrying out the beneficial and efficient operations for converting the Phormium into a mauketable article ; fitting for the British manufacturer of textile fabrics, possessing valuable and superior qualities, which would he highly lucrative and remunerative to those who may embark in a plan for promoting it. It appears from recent discoveries that the great opprobrium which was cast upon it, and which caused it to be discountenanced by home manufacturers, has been removed and overcome by a process of clearing the fibre of its viscous gum-resin, thereby reducing it to a soft, flexible and silky state, fitting for the spinner, the value of which so reduced, would render it an aiticle that would excite considerable competition at home, when pioduced in quantities of some hundreds of tons annually, there can be no doubt of there being a constant and enduring demand for it. But the cairying out of this measure involves some important questions. How is a laige quantity of the material to bo obtained 1 and where are the requisite funds to bo found.^ I believe and am given to understand that there is a vast quantity now growing in the maon districts, and thousands of tons might be obtained of a superior qualitj in and adjoining to this province ; besides, it is to be hoped that many settlors will attend to the culture of the plant, since I think it may be demonstrated that no ciop would pay them better than it, for a long series of years after the first planting — they would derive an annual income far exceeding what might be derived from any other ciop, at much less cost — the demand would not be fluctuating hut constant ; this then is a very important consideration. Next we arrive at the very grave question about the available funds. I believe it is well known that the provinces generally are not very prosperous, for all complain. I would therefore ask, whether this Province can raise the capital sufficient to carry out operations to that extent which shall be efficient and remunerative. My opinion is that one, two, or three thousand pounds would be futile, it would require a capital three or four times as much to accomplish the end, a smaller sum would end in disappointment and certain loss. Merchants would not be content with a smaller quantity than 100 or 200 tons — appieciating these there would be a competition, which would yield a profit (I may say, a consideiahle profit) to those embaiked in the concern. I believe that it would requiie from £7,000 to £10,000 to bring it into operation satisfactorily ; with the latter sum it may be done profitably to all who may embark in the undertaking. It behoves us to consider and calculate what the piobable outlay would amonnt to : — Ist. Two machines ; 2nd. a Steam engine ; 3rd. an hydraulic press j 4th. offices for clerks, &c. ; sth. Buildings, one for machinery, and another for lodging the raw material, another for steam apparatus, another for the press, a drying loom and for packing and storing the bales foi shipment; then there would be fencing, lodgment for clerks and operatives ; to these mnst be added iron safes, books, &c. Again, the cost of the law material ; the salaries and wages of men. Then we should not omit that there must be men imported with the machinery, who understand the working and management of the same and of the steam engine, and occasional repairs — besides others as operatives. To attempt to cany it on in all its branches without a sufficient capital could not possibly succeed, for the attempt would piove abortive and be attended with certain loss. There should be, after commencement of operations, 100 or 200 tons sent off, which would bring in £10,000 or £20,000 the first year at Is. per lb.— it might realise Is. Gd. per ft. if in a good state. Then again we should look to the premium ottered. I conceive that the only practicable plan is to engage with some person, well acquainted with the subject, to go to England, as an accredited agent, to foim a Company to be united witli a Company here which should be the nucleus of a good, sufficient, and substantial fnm, with limited liabilities. There can be no doubt but that numbers of monied men would be found desirous of taking shaies in such a promising concern at fiom £25 to £50 per share, so as to raise £10,000 which I think should be the extent, for beyond that the piofits of individual shareholders would be diminished or the surplus capital might not be employed for three or four yeais. I would suggest that a Committee should be formed here, at an early period, to discuss the subject more fully, so that there be no delay, but that the object might be '

carried out at once. The Premium offered by Government should be an additional stimulus for exertion, for it may be relied upon that other Provinces will be upon the aleit to be the foremost in the competition. Near to where the superior flax is to be found in most abundance, there I am of opinion the establishment should be fixed, on account of carriage. I have no doubt, that, if an efficient working Company be not foimed here in conjunction with one in England, in a short time, an independent Company will be formed in the latter country, thereby laying claim to the proffered Premium. Now as regaula shares, I believe that many persons here would find it very inconvenient to take shares at the pi ice stated and yet take an interest in the success of the plan. To accommodate these might not several club together and so raise the required sam, and let the share be taken out in the name of one of them ? This is truly a subject worthy of our serious consideration, since a new era appears to dawn upon the destinies of this province and likewise upon the the entire Colony. We lie under deep obligations to Dr Wilson, the originator of the movement, who lias imparted new life into this vital subject, which has remained for so many years in a state of inactivity and neglect. His communications are most valuable, and should success attend the proposed measure, he will be entitled to something more substantial than mere thanks.