The Nelson Evening Mail. FRIDAY, DECEMBER 30, 1870.

Nelson Evening Mail, Volume V, Issue 308, 30 December 1870, Page 2

The Nelson Evening Mail. FRIDAY, DECEMBER 30, 1870.

We are gradually becoming acquainted with the views entertained by high authorities in England on the financial scheme of the New Zealand Government. To-day we publish an able article from the Eco?iomist, a journal chiefly devoted to matters connected with the English money market, and therefore eminently adapted to form an opinion on a question of this description. The subject has already been worn threadbare in the colonial newspapers, the majority of which have expressed themselves in favor of Mr. Vogel's propositions ; now, however, we have, as it were, fresh blood imported into the discussion, and it is interesting to note how widely different are the views of an influential London journal from ■ those entertained by some of the leading representatives of the New Zealand press. The whole of the scheme is there carefully taken to pieces, and its manifold errors exposed, and, in some instances, unmercifully ridiculed, whilst a severe reproof

to the Government, aad through them to the colony, is administered in the following words : — " Quite recently Mr. Bell and Dr. FeatherstOD, the Commissioners who wrung the guarantee of £1,000,000 from Lord Granville, were assuring the English money market that New Zealand would borrow no<, more*, and now come these imposing projects for. raising millions ; at a stroke of the pen." Occasionally, it is highly advantageous that we should be able " to see oursels as ithers see us," and, in this particular instance, tho warnings, reproofs, and remonstrances of a journal possessing so high a standing as the Economist may- possibly have some effect in breaking the spell that, has been cast by the Hon. Julius Yogel over the colonists of New. Zealand and their representatives in Parliament.