THE Inangahua Times. PUBLISHED TRI-WEEKLY. WEDNESDAY, MARCH 22, 1882.

Inangahua Times, Volume VII, Issue 1064, 22 March 1882, Page 2

THE Inangahua Times. PUBLISHED TRI- WEEKLY. WEDNESDAY, MARCH 22, 1882.

Whether or not some of the writers of the '^Canterbury Times", a usually exceedingly well informed and high:&viPpii^tdy/w^ certain that of late articles have ap*l peered from time to time most unjustly condemnatory of mining speculation, and calculated to do the Inangahua district considerable harm; ■■/■■' In a recent issue of that paper a Gazette is referred to in which a number of nonpaying ventures appeared, and on this the Times preaches a short sermon, in which it would seem that the intention was to it appear that the mines are, as a rule, failures, and that they swallow up a great deal more than they return. r«o. doubt there is sojpe truth in the insinuations conveyed, and the spice of fact naturally flavors the whole, but we must protest against the wholesale condemnation which our contemporary deals out. .-. He, goes so for as to say that for many years past the whole dividends paid only amount to £20,000. The absurd misstatement 1 needs scarcely denial, for single InaiK, gahua companies have, alone paid more than three times that amount, but of the mud thrown some will stick and the district suffer in consequence. 1 It is not necessary to go into details, for those who have any knowledge of the place know how utterly untrue such allegation^ are, but it is a great pity to find a leading and highly respectable paper giving currency to such slanders through intense ignorance on the part of its contributors on the subject they treat of. , It would be just as reasonable to say because half a dozen notices of bankruptcy appear at times in a Christchurch paper that all the squat ting and agricultural people of that portion of the Colony are on the verge of insolvency. There are mines and mines — some of them are better on paper than in fact, but on the other hand there are numbers of most substantial and highly payable ventures, and gold -mining, like mining all over the world for. metals of. every description, must, of necessity, invariably be more or less risky. Why, therefore, the Inangahua mines should be so harshly dealt with we fail to see, and why enterprise and speculation shonld be attempted to be strangled is certainly surprising. It is admitted on all hands that the development of the golden resources of New Zealand, first started the Colony on its career of prosperity, and. that but for its discoveries in this direction it would have been a long way behind the other Australian Colonies. " It must be very evident, therefore, that any attempt to put a check on enterprise, cannot fail not only to do harm to the district referred to but to the Colony as a whole, and the policy that would dictate such a course should be deprecated by every right thinking person. It is, no doubt, true, that a number of enterprises are and have been, entered on, that must prove most unprofitable to investors, but at the same time to deliberately misrepresent matters, to pick out one publication and argue on it as though it contained the condensation of years, is altogether too bad, and at the same time utterly unfair. Whilst thus commenting on the prospects of Inangahua, the writer says nothing about the dividends, paid by the Wealth of " ations, the Gojden Fleece, the Hopeful, the ojd Caledonian, the Just-in-Time, the Fiery Cross, the Keep-it-Dark, the Welcome, and many others. / either does he point but tljat much of the money already spent has been expended in getting mines in working order, and that very shortly it will produce its reasonable, fruit, and that the district may, with reason, anticipate a highly prosperous future from the development of its mines. As yet the wealth of the district has not been more than touched, and the future of the Inangahua bids fair to be as bright, if not brighter, than that of any district in New Zealand. If writers, before scribbling blindly, would take the trouble to ascertain facts they would not fall into such serious error as the " Canterbury Times " has clone, and would not vilify a locality because all' its ventures have not proved tMi'.'cosr-i'u!. One swallow docs net

make a summer, more than a single Gazette containing, 4%iTs of urilucky speculations, should be as evidenofe that all tile enterprises in the district are unsound or untrustworthy.