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Auckland Star, Volume VI, Issue 1656, 9 June 1875, Page 2

An ominous sound is borno to us from England, By telegram it will be seen that the House of Commons was to have been'moved on the 20th April last that the Select Committee on Foreign loans should be instructed to enquire into the circumstances attending the issue in Great Britain of the New Zealand loans. What may be the result of such enquiry if ordered, whether toshowthe stability of the basis of our Colonial credit, or to cause a flutter among the holders of our stock, and to act as a sedative to our young ambitions, time will tell; but our colony ha 3 been the first in these seas that has been honoured with this peculiar attention at the hands of the Imperial Parliament. The circumstances attending some of the Foreign loans are such as to give only too good grounds for enquiry, but, though the inclusion of our young and ambitious colony cannot be accepted as in any wise placing our credit on a level with some of the notoriously rotten securities that have sound favor among the gobe mouches of the English money market, still this pointed reference to our colony, coming so soon after the floating of the present loan in fashion new and peculiar, has an unplesaant aspect about it. Indications were not wanting already to show that we had pretty nearly reached the end of our tether, and we may with considerable confidence feel that when the four million loan is exhausted— and the greater part of it is already sunk,— the shower of gold will have ceased. The Ministry that will now come into office will have the odium of being associated with the years of famine that must succeed to Air Vogel's years of plenty, and the unpleasant but inevitable duty of chasing away the cormorants that have been battening on our unfortunate country.