Original Correspondence.

New Zealander, Volume 3, Issue 140, 2 October 1847, Page 2

Original Correspondence.

To the Editor of the New Zealander. No. 4. Sir,— Having, in the course of my preceding communications, endeavoured to demonstrate to the satisfaction of all disinterested and impartial persons, what appears clear to vie, namely, that Governor Grey's intentions are of the right sort, and that his Excel' lency's administration of affairs hai been directed wholly and solely towards the general welfare of this colony,— l now beg to offer a few further observations in reference to the two important topics at present before the public— l mean the redemption of the Government Debentures, and the plan for promoting Education. With respect to the former— there appear to me to arise several considerations. In the first place — ought those debentures to be redeemed t Of this, I think, there it, and can be but one opinion— and that, affirmative. Whether wholly paid in specie, or partly paid in specie and partly funded for a fixed period, amounts to the same thing. The resnlt will be their positive redemption. In the next place, from what funds ought they to be paid? 4 And here, I think, it would be needful to go into minute particulars. How did such and such debentures ariie ? Which of them were to carry out British objects ? And which purely colonial ? What may be theestimated amount of one and the other ? Without some dissection of this kind, it will be difficult to determine what proportion ought in fairness to be discharged out of the Parliamentary grants placed from, time to time at his Excellency's disposal, and what to be charged upon the revenue of the colony. There can

be no reasonable doubt but that some portion at least of the debenture debt was incurred in consequence of efforts of former local governments to carry out experiments and objects exclusively British. If so, it will be but just that such proportion should be defrayed by the British treasury. The sum total of the outstanding debentures, inclusive of what have been styled '• Debenture Certificates" is stated to be thirty thousand some odd hundred pounds sterling. This would be a large mmjto lay on the revenue am its infancy. But reduce it one third, or one-half, principal and interest, by means of British funds, in consideration of British objects, and the burthen of such an incubus would be sensibly diminished. There would be no need of any extraordinary taxation to enable the Colonial Treasury to meet the accruing interest, nor to pay off the principal balance within a period prescribed. But if the whole should be saddled upon the colony, it can only be met by continued heavy taxation in some shape or another; and the proceeds be applied, not towards purposes of local improvement productive of revenue, but to purposes from which the colony can derive only a partial benefit, or suffer a dead loss — for I believe it will be found that much of thi present debt has passed into the hands of persons no longer resident here, nor particularly interested in the colonial advancement—* thereby .divesting it, in afgreat measure, of the redeeming character of being simply bona ,fide an international | debt, from one set of colonists to another. It is to be I hoped that his Excellency will sec tnc justice and expediency of not saddling the certain burthen of the debenture debt upon us, but let the British lion, that has strength and not the want of will, bear his fair proportionable share. In the third place, admitting all are to bo* paid or funded, what class of debentures ought to have priority of payment? The answer I think is obvious. Those which are of the smallest amounts, no matter what the date. Those 1 presume would be the debenture certificates. A laudable anxiety seems to be evinced by the Government, and indeed the Council generally, to give them the preference. But then an objection has been started, that very few of them now remain in the hands of the originiil holders, most having been bought up by speculators in many instances at a very reduced value, so that original holders would not now be benefitted by immediate payment. This objection is not without its weight. But as there are some still in the original holder's hands, very much to their loss and inconvenience no doubt, I cannot see any in* superable objection why that class of persons may not have the option of obtaining first payment? and even if it led to an understanding with the present holders, that would not so much contravene the object, as they would have some participation in the advantage which is their due; or else the second and third holders, and so forth, would have to wait their appointed time of payment. The plan of paying off the 5 per cent, de* bentures next, or (I presume at the holder's option) paying off a fourth, and funding the balance in 8 per cents., and paying off the 8 per cent, debentures eventually last of all, is about as wise and equitable a plan as under existing circumstances could be reasonably devised. ! This desirable measure, imperfect, and open to amendment as it is, I think may be fairly ranked among the further evidences of Governor Grey's exertions to promote the public welfare. With regard to the Education Bill— little can b* said, in the present immature state of that" measure. Looking at the title (" a Bill to promote the Education of Youtb in New Zealand.") and preamble, it was to be inferred that some comprehensive measure of not onal education was intended ; but from what fell from his Excellency in Council on .Saturday, it I would seem chiefly designed for the benefit of the native race'; children of European parei.ts, and of the half caite, not being" necessarily excluded frora a participation in its benefits; and that the? entire expense of originating and supporting the schools lor some time under the special superintendence mem, tioned in the bill would be borne by the home government. If this be theicope and tendency of what the Governor proposes, I am at a loss; to conjectu;e what occasion there can be for the intervention of the Council, so long as no contribution is called for from the colonial funds ; nor can I see why the government should be fettered in the choice of superintendence to carry out the general object stated to be kept in view, so long as each persuasion that has sliewn activity in promoting the intellectual advancement of the native race be allotted its just portion. The Church of Eugland, Wesleyan, and Roman Catholic m.ssions, have certainly been the most prominent in the work of education ; and indeed,J believe, they will be found to be the only ones at yet. It remains for other Christiau periuasions to establish a claitn, before they can expect to te considered. Until they do so, they cannot complain with justice if at present passed by, nor even if seemingly overlooked. The remedy is with themselves. The political advantages that would attend the dissemination of a plain sound Christian Education among the Maori race are so many and so obvious, that J cannot presume to do more in this place than thus cursorily to state io. Aud supposing the object contemplated by the measure now under consideration to stop short there, I thinkjit canuoi but b* deemed highly meritorious, and as evidencing a sincere desire on the part of the head of the Executive ! Government to secure the permanent prosperity of these settlements. It is only reasonable to presume however, that the Governor's views go farther than Maori education ; but in order to appreciate them duly, it will be needful that they should be more fully developed than they have been by the bill, or the explanations yet afforded. I remain Sir, for the present, Your obedient servant, No Party Man. Auckland, Sept. 27, 1847.