THE POLICY OF THE GOVERNMENT.

New Zealand Mail, Issue 16, 13 May 1871, Page 1

THE POLICY OF THE GOVERNMENT.

The interest in the arrival of the Nevada has been so great that our thoughts have hardly had time torevert to the other great achievement of the Hon. Mr Vogel, viz.—the raising of the loan. It would be idle to deny that there were many who thought that the hope of getting the loan was, as the postal contract is still characterised in certain quarters, “a delusion and a snare.” That the money should be forthcoming, and through the unaided exertions of the Colonial Treasurer, has struck dumb with astonishment many'who taking up, parrot like, absurd and defamatory cries aga’.nst that able statesman and financier, have from frequent repetition, come almost to belie/e them. As Mr Webb was predicted by the Hon. Mr Stafford not to be insane enough to sanction a contract like that of Neilson’s or Stewart’s ; so we were assured by the Hon. J. C. Richmond in solemn tones, varied occasionally with affected titters at our credulity in “ such wild and gambling schemes,” that “ English capitalists will laugh at our presumption, 1 ” and that himself and New Zealand were rtdisgraced” at the very thought of putting them before the “keen business men of London.” It was natural that predictions coming from such quarters should have had some effect on weakminded persons unaccustomed to think of such large proposals, and on those violent partizans who will see no good in anything proposed by the present Ministry. But either Mr Webb must have turned insane, and English capitalists must have ceased to be keen business men, or Messrs Stafford, Richmond, and their deluded followers have exhibited the most arrant absurdity, combined with

the most shapeless is., found in the political' records of this colony ! Henceforth their estimate of public men and large questions will be set down at its true value. Mr Vogel was, in the opinion of Mr Stafford, scarcely good enough to go to Washington ; but it was to bring untold disasters on New Zealand to allow him to go to England ! Mr Richmond did not draw the.line at Washington—he drew it at Wellington. For Mr Vogel to bring forward such schemes as he did he considered nothing but “ a political crime,” and his only hope was that we may get out of this prodigious escapade by being exceedingly well laughed at.” When ' the hon. gentleman came before the electors of Wellington he told them “ we should never enter upon such dishonest and diabolical speculation.” As for the San Franciso service, it is im-

possible to read the speeches reported elsewhere, and the following utterance on January the 17th in the Odd Fellows’ Hall, without a smile at such aunion of ignorance, conceit, and spitefulness. ”He (Mr J. C. Richmond) could not help thinking that that (the San Francisco Service) was a scheme for which we should be supremely -laughed at by the whole of the Pacific.” Who does, not see that in those strong assertions both Stafford and Richmond

have shown how far short they come of the Ministry who proposed, and the able statesman who has carried these proposals into effect. Neither the shipowners whose

acuteness was so much extolled, nor the London capitalists whose caution was dwelt upon with such unction, have ** exceedingly, or supremely laughed” at, the postal or financial proposals. Were they to laugh at all over the matter, it would be at the credulity of those who listened to such shallow and spiteful Sir Oracles, who took such view both of our resources and our necessities. For New Zealand to borrow four millions of money is to them not a “ crime,” but a common sense proposal. To pay £40,000 (reduceable by subsidies and concessions) for a main postal service having

its terminus in New Zealand, instead of £63,000 for a branch service (when our population and resources were much less) seems, we should think, to any man that can reason, nothing “ wild or diabolical.” But if there is one thing truly sublimely ridiculous, it is to hear Mr Stafford profess to know Mr Webb’s steamboat business better than himself, aud Mr Richmond whose only financial experience has consisted in drawing £IOOO a year, in ministries (of which he was the weakness and the blot) giving gratuitous advice to the millionaires of Lombard street, and pretending to know the value of securities better than the habitues of the Stock Exchange ! If the eminent financiers whom Mr Vogel has induced to invest in New Zealand securities on even more favorable terms than Dr Featlierston anticipated—if they do not know their own business better than Mr Richmond, it would be but charity on his part to go home and enlighten them ! He could there make a supreme effort (for we see no further chance for him here) to carry out the dearest wishes of his heart, viz.—to disparage the reputation of Mr Vogel, and the resources of New Zealand ! Meanwhile, while he is away home as “ the evil genius of New Zealand,” we trust —the same care being taken in the expenditure, as has been exercised in the borrowing, of the money so “ foolishly” entrusted to us, that the work of colonisation will be so successfully carried on, that immigration and public works will have so added to our splendid resources, that we will be justified in resorting again to the same “ political crime” of borrowing money at a cheap rate to improve the value of odr colonial estate.