THE GOVERNMENT SCHEME OF FINANCE FROM AN AUSTRALIAN POINT OF TIEW.

Nelson Evening Mail, Volume V, Issue 192, 16 August 1870, Page 2

THE GOVERNMENT SCHEME OF FINANCE FROM AN AUSTRALIAN POINT OF TIEW.

(From the Australasian ). The immigration controversy in this colony is likely to be terminated in a manner highly acceptable to both parties. As our readers are aware, there is a large section of the community which believes that its best interests would be promoted by setting apart a certain portion of the revenue for the introduction of emigrants of the right class. Ou the other hand, there are uumbers of persons who object to any such proceeding, while they feel themselves precluded from opposing voluutary immigration. Such being the position of parties, the dispute is unexpectedly suspended, if not cut short, by the descent of a Deus ex machina, in the person of Mr. Julius Yogel, the Treasurer of New Zealand, who being an old Victorian, continues, apparently, to entertain a very friendly feeling towards us. If he can secure the consent of the Legislature of the colony in which he now resides, he proposes to borrow four millions from British capitalists, one million of which is to be set apart for immigratiou purposes. Thus there will be a steady influx of population into New Zealand from the mother country during the next few years; and it does not require the gift of prophecy to enable us to predict that a large per centage of these immigrants — probably the more energetic and enterprising of them — will filter through into this colony. As water always finds its level, so does labor in these colonies naturally gravitate towards the member of the group in which wages are highest, and the comforts and enjoyments of life are procurable in the greatest abundance. Hence we may be perfectly certain that Victoria will reap no small share of the advantage which the people of New Zealand are promising themselves from the expenditure of the projected loan. It may be highly inequitable that we should reap what we have not sown, and gather where we have not strewed, but the event is almost inevitable; and, greatly as we doubt the wisdom of a quarter of a million of our fellow colonists in New Zealand adding some millious sterling to their present indebtedness, it would be mere affectation to deny that we regard such a course of action as fraught with the promise of future advantage to Victoria. If, contrary to our expectation, these predictions should be falsified, and New Zealand should be fortunate enough to retain the immigrants she proposes to introduce, we shall witness her growth in population and prosperity with the utmost satisfaction; since it will be the means of creating additional outlets for our manufactures, and of giving additional impetus to our commerce.