CHAP. IT | IMPERIAL CO-OPERATION 1471
the Colonies an Imperial penny post was impracticable,
although the Prime Ministers of the Cape Colony and Natal
declared themselves in favour of such a step, and expressed
their belief that the Legislatures of their Colonies would be
prepared to give effect to it.
The question of the proposed Pacific cable was brought up,
but the majority of the Premiers desired that the subject
should be deferred until they had had time to consider the
report of the Committee appointed to consider the question
last year. It was, however, pointed out to the members
of the Conference that the matter was not one in which the
United Kingdom was taking the initiative, although Her
Majesty’s Government were ready to consider any proposal
tor working with and assisting the Colonies if they attached
great importance to the project ; and that they would now
await definite proposals from the Colonies interested before
proceeding further in the matter.
At the last meeting of the Conference a resolution was
passed unanimously by those of the Premiers who were still
present, to the following effect :—
Those assembled are of the opinion that the time has
arrived when all restriction which prevents investments of
trust funds in Colonial stock should be removed.
The question of Imperial defence was also discussed at
length. The First Lord of the Admiralty made a statement
In which he asserted his appreciation of the maintenance of
the existing agreement with regard to the Australasian
flotilla. He also pressed the importance of the Admiralty
being given a free hand in the disposition of the fleet, so that
they should be in a position to conduct the defence of Austra-
lia, on the same principles as were followed in the defence of
the United Kingdom. He assured the delegates that there
was no question of removing the squadron from Australian
waters. or exposing Australia to be attacked by foreign
‘ A Postal Conference in June-July 1898 established penny postage in
that year.
* The cable was ultimately agreed upon, and the laying began in 1902 ;
see Parl. Pap., C. 71553, 7632, 9247, 9283 ; Cd. 46, 2663.
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