A South Sea Bubble Of The Twenties

When the PCPC Come to Tahiti

By A.C.R.

EVER since iron nails were exchanged for pigs, coconuts and taro by the first explorers on the beach of Matavai, commerce on Tahiti has added some rather picturesque chapters to South Sea history.

Not the least of these is that section of the chronicle of the hectic 1920 decade which records the short but merry career of the PC PC (Pacific Coconuts Products Co.).

Much has been written of the rise and fall of the Atimaono plantation—a period of prodigal dreams, lavish disbursement, baronial banquets, ending in tragedy.

Atimaono was, by comparison, a star of lesser magnitude.

Among the many grandiose under takings which have blossomed and withered on the fertile soil of Tahiti, the PCPC easily holds precedence as the veritable South Sea Bubble of latter day nistory. The PCPC appeared over the horizon from the north east, like a gal leon of old Spain laden with treasure from the City of the Kings.

The treasure was destined to set up a copra monopoly on the islands of the Colony, to the exclusion of all established traders. This was to be brought to pass by virtue of economies derived from the extraction of coconut oil at Tahiti. In due time, a grim stone building was erected, on a parcel of land at the east end of Papeete, and filled with massive machinery. An old residence, located at the corner of the premises, was adapted to house the administrative and office staffs.

The fact that this latter building was the favourite rendezvous of all the mos quitoes inhabiting the nearby Vai-ninii ore swamp, has little to do with this history; although it had a decided effect on the mosquitoes themselves, as well as on the comfort of the neighbors—as will appear later.

Older operators, naturally, did not supinely acquiesce in this invasion of their ancient domain. A battle royal was waged on every island and on every plan tation. The issue was usually in favour of the PCPC; for, from an apparently in exhaustible treasury, excessive prices were paid to plantation-owners for copra immediately available, and generous ad vances were granted on future deliveries.

As time passed, more and more copra from every part of the colony poured into the grim building on the Papeete water front, and the event of a monopoly under the control of the PCPC seemed about to be achieved.

Then an unforeseen thing happened.

The USA Government imposed a prohi bitive import duty on coconut oil. Ap parently, the PCPC was now in a position where it could be combatted by its com petitors. But it was not to be.

Notwithstanding the burdens of a costly and useless oil mill, a highly paid staff, and the present necessity to des patch copra in bulk to distant destina tions at the common level of freight charges and disposal prices, the PCPC continued to expand and flourish.

Amazed spectators beheld the extra ordinary phenomenon of copra landed in Papeete at costs above world market prices, producing revenues of increasing magnitude. The general manager re ceived his guests in princely state at town house and country estates—each graced by its particular chatelaine. Super cargoes blossomed and flowered into opulence such as supercargoes had never known before. Staff members radiated an aura of material well-being, and planters on far islands clapped their hands and sang for joy.

HOPE revived in many a savage breast when it became known that an in spector, sent by PCPC shareholders in the United States, was on his way to Papeete.

People who watch such things assure us that, from the moment of his arrival, the inspector became the centre of Bacchanalian saturnalia which whirled him along the primrose path until the day of his departure, when he was de posited on board a steamer in an alcoholic fog that did not dissipate until he had landed at San Francisco.

This brings to mind the extraordinary behaviour of the Vai-ninii-ore mosquitoes.

Nearby the PCPC premises was a large settlement of members of a religious sect named, by the Tahitians, the Tanito. The canons of their creed forbid the use of any substance containing alcohol.

After the PCPC was established, the Tanito took notice that the Vai-ninii-ore mosquitoes, which heretofore had at tacked them with voracious fury, now merely danced and buzzed about their dwellings in a peculiar manner, and had ceased to take any interest in their persons as a source of nourishment.

The reasons for this marvellous change must be left to research by entomologists; but the fact is clear that the Tanito were able to discard mosquito-bars, and were comfortable and happy—until the arrival from the USA of another inspector—this one having been sent by a banker.

This individual belonged to that race of men who have evolved from ptero dactyls of the age of saurians—men en dowed with vascular systems of sub-zero temperature and with eyes that can, by a glance, chill warm flesh into imperishable granite. He was not to be lured into the primrose path. Instead, with machete and axe, he set to work on the jungle of

invoices and vouchers, of way-bills and tariff sheets, of inventories and ledgers.

When he had completed his task the PCPC was only a memory—and the Tanito had to sleep once more behind mosquito-bars.

Long afterward, this writer met a man who was an intimate friend of the presi dent of the bank at San Francisco. He told us the amount the PCPC adventure had cost its shareholders. The sum is so huge that we dare not record it on hear-say evidence. Put into dollars, it requires seven figures.

Mr. and Mrs. O. M. Samuel arrived in Sydney recently from Suva, Fiji, where Mr. Samuel has been manager of the local branch of the Bank of NSW for the past four years.

Hon. E. R. Oldham, Commissioner for Lands in Papua, has left the Territory on three months' leave of absence.