I have the honour to herewith hand you the accompanying preliminary reports upon the New Zealand hemp and kauri-gum trades.

It is within your knowledge that the completion of the authority intrusted to my care had its origin in the numerous petitions sent to Government during the months of May, June, and July, 1896. These were signed by the leading mercantile gentlemen throughout New Zealand, who were supported by many of the chambers of commerce, industrial associations, and agricultural societies in the colony, to all of whom I desire to express my appreciation for the confidence reposed in me.

In view of the fact that I shall have further evidence for the Government concerning the hemp industry, I have abstained from making any recommendations thereon at the present time.

Travelling through New South Wales, Victoria, South Australia, and South Africa, it has been my good fortune to meet with the most cordial kindness from the various Ministers upon whom I called, and I always received a ready and willing help from the Government officials to whom I applied for information.

In London and the provinces I found the same generous feeling existing. I am specially indebted to Messrs. W. F. Malcolm and Co., Robinson, Fleming, and Co., John Haddon and Co., James Morrison and Co., Devitt and Hett, Lewis and Peat, Hoare, Marr, and Co., William Bennie and Co., with many other merchants and brokers in London, and also to Mr. Thomas J. W. Buckley, proprietor of the Post magazine, who devoted several articles in his valuable magazine to the advantages British insurance companies would gain by the investment of their accumulated funds in New Zealand mortgage and other securities. To the Lord Mayor of Manchester, Mr. Bythel (chairman of the Ship-canal Company), and Mr. Matthew Wells (merchant) I am also indebted for many acts of courtesy extended to me during my visit to Lancashire.

I cannot conclude this letter without placing on record my best thanks for the kind assistance extended to me by your good self, as well as by your efficient staff, in the prosecution of my work during my stay in London.