INSCRIPTION OF NEW ZEALAND DEBENTURES.

Evening Star, Issue 4083, 28 March 1876, Page 3

INSCRIPTION OF NEW ZEALAND DEBENTURES.

The ‘Grey River Argus’ reminds the public that Mr Lahgton, when Colonial Treasurer of Victoria, was the originator of the scheme carried into effect by Sir Julius Vogel for the inscription of New Zealand stock. Our contemporary writes as follows: —Sir Jnlius Vogel is a man with a curious combination of character, but whatever faults he may possess no one who knows him can accuse him of want of generous sympathies, In a quiet way he has recently (tone a very graceful act to the late Trea surer of Victoria, Mr Langton. It was Mr Langton who first conceived the idea of converting Australian debentures into inscribed stock, bnt he had not the opportunity of giving effect to his ideas, and the scheme died. Sir Julius Vogel took up the idea and succeeded, but he succeeded because he had opportunity which Mr Langton had not, and he candidly admits this m the following letter, which he addressed to Mr Langton in consequence of certain comments which had appeared in some of the Victorian journals “ Henries’ Hotel, Ist February, 1876. My dear Langton,—The article in the ‘ Argus ’ a few days ago about the arrangement I made with the Ranh of England might possibly be construed (though I am sure it was net so meantV to F raise me at your expense. At any rate think it right to say to you that I do not think it just to reflect upon you for not completing your arrangements with the inscribed stock to the extent of Home arrangements; for I am certain, and assert positively, that it would have been impossible for yon to have arranged with the Bank of England, and in any way to have arranged for bearer bonds by correspondence. The negotiations have been of a most difficult and delicate nature, and to have approached the subject by letter would-have hep to court defeat. In short, nothing but going Home would have enabled you to arrange as I have done.— Always yours sincerely, Julius Vogel.”