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Anglo-Maori Warder, Volume 1, Issue 8, 13 June 1848, Page 4

One of the most important acts of Earl Grey's administration, as Minister for the Colonies, at least in respect to New Zealand, is the resuscitation of the Company. That body, of whose demise so many antipations were hazarded, is placed in a position to its pursuits, and a sum of money advanced sufficient to enable the directors to meet the liabilities la.irred, and to hold out inducements to parties at Lome to become settlers, in these islands, under their auspires. Of the policy or impolicy of this step, we have long since expressed an opiirou, and it is with no intention of opeuiug a field for controvtriv, that, at this periud of the da), we revtrt to the questio.i. B'it we feel taat a something is wautcd-that the of the colonis's have not been considered—,uU tlut Buflident ,itte*itio.i lus not beenbistouei ca mg of '. tnta-are of such paramount importance to all r jncerntd. The whole of the country now known by the dev.gnation of the Trownce of Nt'w Munster, (that U to say—the south portion of ihe North Islund. and tne whole of the Middle, and biewait'a, Island,) h.i» been banded over to the supervi.ioii, or contiol, u' t e New Zealand Company, for tin ucai of three year . The Directors arc luJvbtfd to Guvcrnmeut to the extent o( i.'230,Ui.0. Pnmdmji ut the expir-itum uf Uie ,

above period, the Company do not find themselves in a position to carry on operations* their rights cease and become rested in the Government. But allowing that they ure enabled to carry on operations, th? Company wi'l h«e to repay the above luuu. Now this is the point. The Company will not pay the money out of their own pockets. It is manifest then, th it a'ter all, the colony must liquidate ihe debts of this corporation, presuming that it continues in ex stence. By previous arrangements, the company"are understood to expend seventy-live per cent, in immigration purposesSo long as the Directors continue to expend this portion ol the proceeds of sales of land, the colonists will not complain; but if the Company continue to receive their twenty-five per cent, as profit for management, and slum d,appropriate any portion of the seventy-five per cent, to repay this Government loan, then they will commit gross injustice, and the settles will hu defrauded of that which honestly is their right- We merely allude to this subject for the purpose of directing public attention to that which concerns the colony at large. We shall, however, return to the question shortly. In the m ran time we would suggest, in the absence o< an asßtm' ly t the propriety of appointing a com mil Use to watch the proceedings of the Company. Such a btdy would be extremely useful in many respects, as the members of it would nlways be enabled to expose any delinquency in the unme, and on helm It, of the settlement, A body elected by the colonists, resident on the spot, and fully acquainted whb loi-al affairs and (he requirements of the place, would tend greatly to promote the iuterests of >he settlement; since :hey would be enabled to furnish information as to the scarcity of labour or what not, buth to the Government or Company. And this body mi.lit be totally distinct, and perhaps ought to be, from the Locnl Government.— lndependent*