THE NEW ZEALAND STEAM NAVI GATION COMPANY.

Wellington Independent, Volume XVIII, Issue 1981, 10 November 1863, Page 2

THE NEW ZEALAND STEAM NAVI GATION COMPANY.

When some little time ago we alluded to the extension of capital of the New Zealand Steam Navigation Company, we expressed an earnest hope that the several Provinces throughout the Colony would make a combined effort, to support an undertaking whose capital and sphere of operations, should really be worthy of the name it assumed. Since then we are glad, to learn that the most gratifying offers of support have beeu made, from every part of the Colony, and that a negotiation with the Directors of the Steam Navigation Company in course of formation at Otago, bids fair to result in a union of interests, by which the Otago Company will merge into the undertaking already established. The Lyttelton Times, which makes some excellent remarks on the subject of Steam Communication, evidently does not relish the idea of amalgamation. It says : —

Another local company has also come, to the determination to enlarge its operations. The New ZealandStearaNavigalion Company has hitherto pursued a quiet but most prosperous career, and has conferred benefit equally upon its shareholders and upon the public. We hailed its formation with great satisfaction, and heartily welcome the step iv advance which is now promised. There can be no reason why a New Zealand Company should not reap some of the golden harvest now gathered by foreign com panics, or why the Goverament subsidies for postal contracts should all be paid away to English and Australian ship-owners. We are veiy glad to see foreign steamers on our coast j the more of them the better under present circumstances } but we shall be better pleased when they stay away because their place bas been taken by steamers belonging to the Colony. On such a coast as that of New Zealand there is an ample field for all the enterprise that can be brought to bear upon the extension of steam navigation ; and it is not desirable, if it were possible, that the whole work should be undertaken by one company. We therefore hope that, notwithstanding the extension proposed by the New Zealand Steam Navigation Company, the Otago Company, will still pursue its own plans, instead of merging them in those of the Wellington directors. Surely there is sufficient capital and enterprise at Dunedin to start a Steam Navigation Company. If it only began by the purchase of one steamer, the beginning would pay good interest, and would soon lead to better things. So far from wishing to see an amalgamation between different companies to strengthen one large one; we should prefer, in a country where trade is only in its infancy, and steam traffic is capable of indefinite expansion, to see a company at work in every; province of New Zealand. They might be' small, but they would soon grow large enough for all practical purposes. ; Besides the fleet of coasters which must grow' every year, there is the growing trans-ocean i traffic between Australia and New Zealand to be provided for. Why should not New Zealand shipowners retain a fair share of this traffic in their own bands ; and why should not the future traffic which must spring up among the islands of the Pacific be in a great measure* undertaken bj New Zealand ? This colony must,

from its position, be a great maritime and commercial power. The (sooner the sapling is planted, the sooner the tree will grow to maturity. - „ .- Even if New South Wales be at first made the terminus of the Panama route, the depots of American trade with Australasia must eventnally be established in New Zealand, Ferwe may take it for granted that the Pananra /route will open up a considerable trade with that eontin erU, besides encouraging increased traffic via New Zealand between the Old World and Australi. So that, whether the Panama route is adopted or not, the steamer traffic between Australia and New Zealand must extend itself every year. Is this extension to be carried out by Australian or New Ze.aland enterprise?.

While heartily agreeing with the geßeral tone of our contemporary's remarks, we do not think his assertion well founded, that a . multi* plicity of schemes will best serve the purpose he has at heart. New Zealand is but a young colony, and although local Steam Navigation Compauies can be established and made to.pay yet neither their sphere of operations in xhe aggregate would be so great, or their profits so large as if all their shareholders combined to support a really powerful undertaking with a central port for its head-quarters, and a system of steam communication in course of. establish-

ment everywhere throughout these Islands, both North and South. The case,\ye think, is very clear. We wish in the quickest and cheapest way, to establish a complete system of Steam Communication. Much has already been done by local efiort, principally in Wellington,, but the experience of die past haa taught us, that no Compauy, depending merely on local support, can successfully compete in the general field, aud for this purpose the N. Z. S.N. Company has enlarged its capital, and now invites the co-operation of shareholders everywhere in the Colouy.x The Auckland people appear ,10 be convinced that they will secure a 'better return for their money, an d equal advantages by supporting tbis Company, than by starting another ; while the proposition to amalgamate, emanating from the Otago Directors, shows tbatsimilar sentiments are entertained in that Province. Doubtless, the Southern Company would pay of itself, in time, but the share* holders would reap neither so early nor so- high a return, as if it were merged into the genera* ! undertaking now in operation; nor indeed would steam communication be so rapidly extended throughout the colony, by separate instead of combined actiou. „".».

We believe a splendid oppdrtunitj is 'now presented, to do our own steam service witli our own boats, and our owu capital. It is a lucrative field, and the colonists hare but to hold well together, in tbe present undertaking, to secure the profits which can be reaped from it.