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H.—lo

Another phase of the law is the insecurity of possession to the capitalist who may have spent thousands of pounds in developing his holding; the law compelling the capitalist to man his ground, and leaving him. entirely at the mercy of the Government officer in authority, irrespective of what amount of money he may have expended, This has greatly retarded the investment of capital, and the remedy for this evil is the adoption of the American system, which gives to the holder a patent right upon the expenditure of a fixed sum ; and frees him from the caprice of those in authority. If the change proposed is made, there would be considerable influx of new capital, and the employment of thousands of additional miners. who, it must be remembered, are the best consumers and taxpayers in the colony. Henry M. Shephebd, President. J. Dransfield, Vice-President. T. Kennedy MacdonaldA H. B. Kibk, James Stuart, W. Chalmeks, [.Delegates. W. Hildreth, Owen James Hodge, Charles M. Luke, J David Bellhouse, ) Honorary Walter Hill, j Secretaries. [Approximate Cost of Paper.— Preparation, nil; printing (1 ~'175 copies), £& 4s. j

Authority: George Didsbury, Government Printer, Wellington.—lBBB,