THE LATE AGENT-GENERAL.

Globe, Volume XXIII, Issue 2243, 10 June 1881, Page 3

THE LATE AGENT-GENERAL.

2 [By Telegraph.j 0 [from the own ooeeespondent or the “PRESS."] 2 WELLINGTON, June 9. 3 The correspondence between the Hon. J. Hall and Sir J. Vogel regarding the latter’s 6 resignation and claims includes a very ini' t cresting letter from Sir J. Vogel, in which 3- he eloquently and forcibly urges his claims, h After referring at length to the circumstances d of the raising of the five million loan and the inscription, he expresses doubt whether the 5 per cent, debentures would have realised 1 even 92 without the inscription proviso, of which he was the originator. He says “It is unfortunate that the terms of conversion which we had to offer to attract persons to take up the loan have been confounded in the colony with the terms upon .’ which the conversion would be offered when • no obligation to convert exists. It is not to be wondered at that under this misconception, and in the absence of any specific information as to the exact benefit to be derived from the conversion of debentures into inscribed stock, members of the House of Representatives decided not to allow it to proceed. In the singularly able speech in which you admirably pointed out the number of indirect advantages to arise from the conversion, you faded to deal with the main point on which the success of the operation depends. You 1 were evidently puzzled by a consideration of how the conversion would benefit both the colony and the bondholders. The explanation 1 is very simple. All conversions of high rate 3 of interest stocks to stocks bearing a lower rate of interest have a tendency to success in ? tho London markets, because investors are 1 willing to give s relatively higher rate for 1 securities, which, being at a discount, have. 9 apparently batter prospects of increased value than premium securities, which must be paid .» off at par sooner or later," He quotes Mr • Hall’s admission that he (Sir J, Vogel) was 9 holding office for convenience of the Qovom--9 moot, and points out, that had he not trusted to the Government to do him justice ho might have secured himself as Sir Penrose Juiyan did. After remarking that Sir P. Julyan’s services were necessary to the raising of the loan, as the retirement of his name would have been attended with very evil conse- ■ quonoes, Sir J. Vogel proceeds, “Without egotism I may say my services were also essential to the Government. If at the date . (November 10th, XS79) of your telegram, when to use your own words, I was holding a office for the convenience of the Government, 0 I had declined to hold office unless the e terms were fixed for my remuneration 1 with reference to the loan, there can 0 be no doubt that the Government 1 would Lave agreed to such terms, for they could not then have done without my services 0 in floating tho loan, and with the awful consequence of failure before the Government, j they then would have thought little enough ’ of according to mo the extra remuneration of 1 an eighth per cent. I was, however, content s to leave myself entirely in the hands of the . Government, and now I am told that my services were remunerated by the salary of 5 Agent-General, as such salary covered the , 1 , * 1 — ui Viv m® 1 services m respect ol mans pe*. e predecessor. If I had then before me a> y prospect of holding the appointment some • years, or if tho services of my predecessor in regard to loans had been at ail similar, there , might be some force in the contention ; but y my Agent-General days were virtually nums berod, and the services I rendered as to tho loan wore such as I believe no other Agont--1 General has done. When it is considered • that it was entirely owing to my untiring 1 efforts in carrying the Inscribed Stock Acts, p and to the statement which I prepared as to 1 the position and prospects of the colony, that p the Government were able to attract subr scriptions and float a loan of such magnitude; , and when it is considered that I receive less i for my four years’ services as Agent-General, } including the work of the loan, than r the other agents received as commission on the loan only, can it be wondered at ! that I feel I have not had justice [ done me. I cannot believe that the Government has had these considerations fairly before them, and I feel it a duty to myself to place them on record. I may, I think, be excused for saying that my cose is not an ordinary one. I am retiring from the Government service, not through any fault of my own, but in the honorable fulfilment of engagements known to the members of the Government at the time they were contracted, and ■ not then objected to, I shall have completed eleven years of service of a most arduous description, during which I have held the highest offices and hare had to make throe 1 voyages to England. The best years of my life and my health have been sacrificed to the colony, and I retire without a pension and without recompense beyond ordinary payments incidental to offices I have held and actual expenses connected thereto. I have had, however, the happiness of witnessing during these years such a development of the resources of the colony and such an advance in the prosperity of its inhabitants as have taken place in no other colony, and I can refer with just pride to the important legislation I had the honor of assisting to promote, and especially to those measures which I had the good fortune to originate. Since I have been in England constant references have been made to me in debate in both Houses of the New Zealand Parliament, and with the exception of two or three gentlemen, who, if the recollection of old political comradeship had any weight might have acted more kindly to an absent man, I have no one to complain of. Not only have the bulk of my old friends adhered staunchly to me, but I have met with conspicuous consideration from many opponents with whom in days of old I havo had many rough encounters. I cannot too strongly acknowledge the high bred courtesy which in the case of nearly all my old opponents has certainly made them say less in my absence than they would before me. I have been struck too by the justice with which the original policy of public works and immigration, as proposed by me, has been distinguished from the divergent channels into which it subsequently fell. It is not for me now and hero to point out those differences, but it is satisfactory to know that there are many able public men who, whether they wore my opponents or supporters, understand the policy I advocated, which now to my bitter regret halts in its fulfilment. I do not despair that ore long a more generous view will be taken of the services I honestly believe I have rendered to the colony than is at present entertained, and I look forward with hope that, quite independent of all party views, there will come a recognition of those services with the full concurrence of both parties in the House and of the colony generally. In this, my farewell official communication to Now Zealand, I hardly know if I am justified in the observation that I am about to make. If I exceed proper limits in doing so I hope the conscientious feeling under which I labor may be held to excuse me. I wish most solemnly to place on record that but for the consent of tho whole colony tho railway and immigration policy could not have been pursued; that that consent was obtained on tho fundamental condition that there should be a trunk line through both islands, and that justice requires from the statesmen of New Zealond a fulfilment of that obligation. Let me add, that though I cease to be officially connected with the colony, no actions throughout my life will give mo greater pleasure than those which enable mo to be of service to New Zealand in every way in my power." Mr Hall, in reply, contends that Sir J. Vogel was not holding office for the convenience of the Government at the time to which he refers, and that he might havo continued to bo Agent-General if he had resigned tho directorship of tho Agricultural Company, and while acknowledging Sir J. Vogel’s public services, he feels it his duty/ in justice to the colonists, to express his opinion that, in recognising those services, Government has not been either ungrateful or ungenerous towards him. Regarding the obligation to construct the trunk railways, Mr Hall says that he feels assured that Parliament will make provision for them so soon as prudent statesmanship and justice to all parts of the colony warrant that proceeding. Sir F. 801 l then cables Sir J. Vogel's claim to a month’s pay for each year’s service. Mr Hall replies that tho law will not permit it, as Sir J, Vogol voluntarily resigned.