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Hawke's Bay Times, Volume 16, Issue 824, 22 September 1870, Page 3

The session has come to a close, and though looking back upon it one is forced to admit that it has been a very remarkable one; yet, at the same time, it is evident that it is one of the most barren in results that has ever been held in NewZealand. Knowing the extremely dubious position in which he stood, the Colonial Treasurer propounded a scheme so artfully contrived as to confound his opponents ; he placed them in a dilemma, from which they could not extricate themselves, and carried his measures triumphantly. The major part of the session has been devoted to discussing the great financial scheme, and the result is that the Legislature affirmed its principle, and consented -to borrow an almost unlimited number of millions. Mr Vogel knew well that his scheme was impracticable; he was quite aware that the enormous sums he talked of could not be raised, but it suited his purpose, it was a good cry to go to the country with, and it secured his possession of office for some time longer. Advices from England, after the proposals beeame known there, would in any case have dispelled all hopes of the money being ever procured j but somebody's children have their father's luck, and just at this time news arrives of war in Europe, which of eourse puts all idea of raising the gigantic loan to flight, and Mr Vogel will not fail to improve the occasion, and assure the country that but for that unfortunate contretemps, hig scheme would have been matured. However, at present he findß himself forced to fall back on the one million already secured by Messrs Featherston and Bell, and to obtain the sanction of the House to borrow £500,000 on any terms he can get—the other millions being to be procured wlien, they can. So then it would seem that the whole of the grand policy has proved futile, after wasting the session in discussing it; and on the very last day of its existence the Treasurer virtually proposes and carries an entire change of measures. In our opinion the amendments assented to yesterday in the Immigration and Public Works Bill, and tne sanction of the House to the raising of the £500,000, have this signification. However, the deliberations of Parliament and the expen« diture of public time and money have had this brilliant result; that they have secured Mr Vogel and his colleagues in their offices, at all events until after the geaeral election ; and this was preoisely the stake which Mr Vogel played for.-—Eveniqg Poet.