THE DUNEDIN BANQUET.

Nelson Evening Mail, Volume XIII, Issue 194, 14 September 1878, Page 4

THE DUNEDIN BANQUET.

We publiahed a telegram tbe other day stating how the Mayor of Dunedin had been compelled to defend himself against certain attacks made upon him by the Otago Daily Times re bis speech in proposing the health of Sir Julius Vogel. As it may jbe interesting to our readers to learn what that epeech contained, we publish it below :—

His Worship said : — I BBk you to give me your attention for a few minutes while I propose to you a toast which I think most appropriately appears on the programme this evening. It is a toast which may be received with enthusiasm by all — no matter what their political proclivities may be, whether they be supporters of tbe Ministry, or belong to thefc useful institution called the Opposition, (applause), an organisation which I am sorry to see appears now to be faet becoming scarcely as formidable as usual under a system of responsible government. This is a toast which I believe, were it possible to assemble them all together, would be enthusiastically received by the whole population of the colony. It is the toast of " The Author of the Immigration and Public Works Policy—the Hon. Sir Julius Vogel." (Cheers.j It has been said, 14 Give honor to whom honor is due " and in proposing this toast I do not desire to detract from theJmeri.B of other people, such as those whose names have been mentioned this evening in connection with the first railway in the colony. It does not in my opinion lessen the honor due to Sir Juliu9 Vogel to say that a similar idea had occurred to his predecessors and contemporaries. Id like qa^oper jt'nijgb.

be argued that the theory of gravitation bad existed in the minds of men before Sir Isaac Newton had presented it to the world in a praclical shape and demonstrated its truth. Other minds may bave conceived the idea, but I claim for Sir Julius Vogel (he merit of having presented a scheme in a matured form, JuDy demonstrating its practibility aud its usefulness, at a time of depression, whan the country required a gieat mind to extricate it from its difficulties. What was the condition of the colony at tbe period I am alluding to ? The country was suffering from the effect of the protracted native disturbauces in the North which had severely taxed its resources, and nearly exhausted its credit. Trade was in anything but a prosperous condition. The banks were calling iu their advances, and ihe panic was so great that it was difficult to realise securities except at a ruinous loss. Men who under normal conditions would be in easy circumstances were reduced to bankruptcy, and a general feeling of insecurity prevailed. It may be said tbat crises are common to all countries, and that in ordinary course of things New Zealand would have emerged and have maintained her rebitive position amongst her neighbours. Possibly she might have done^so, and io course of a century or so bave attained to her present rank. Bu., undeterred by the discouraging s-ate of affairs I have mentioned at this time, when the credit of the colony was' nearly exhausted, Sir Julius Vogel proved himself equal to the emergency, and by a bold stroke raised New Zealand at a bound to the fortoaost rank in tbe colonies of the British Empire. Men of less courage and ability would have met tbe necessities of the time by means of revenue derived from the imposition of additional burdens upon the people; but the great man whose name I have' mentioned bad not only the mind to conceive but the courage to propoEo and (he ability to carry through tbe grand policy, one of tbe fruits of which we are this even n* celebrating in the customary British fashion. His scheme was by many regarded aa wild and extravagant, aad bis proposal to borrow millions from British capitalists was considered preposterous, and tbe failure of the proposed loan confidently predicted. He, however, successfully met the objections to his proposals, pigsed the measure through Parliament, with the aid of large-minded men like himself, and floated the Joan. The colony then entered upon its present career of posperity. Confidence was restored; trade flourished; population increased, and property ro3e in value tenfold; end tbia prosperity has since been felt by ell classes of the community. I venture to say, in conclusion, tbat the name of Sir Julius Vogel will not ouly be inscribed amongst those of the ablest statesmen of New Zaaland, but be will be ranked with those great men of the world who, disregarding their own interest, have devoted themselves to their country, and left behind them well-defined footprints on the sands of time. (Loud cheers.) I now propose to you " The Health of Sir J. Vogel."