HON. MR VOGEL IN LONDON.

New Zealand Mail, Issue 31, 26 August 1871, Page 15

HON. MR VOGEL IN LONDON.

The New ZeaHnd Loan and Mercantile Agency Company’s Circular gives a more extended account of the various arrangements made on behalf of the colony by Mr Vogel, when in London. It says : —“ Long negotiations have been carried out with the Post Office authorities on the subject of assistance to this new service via California, and a promise has been given that any remissions of charges made by the American postal department shall be at once placed to the credid of New Zealand, and that the whole question shall be considered, with a view of establishing the service as a regular alternative mail line fortnightly with the P. and 0. Company’s service. There is every reason to expect that this matter will be favorbly considered and carried out, in which case the Californian line will have afforded to it as stable a position as that occupied by the P. and O. line. The successful issue of the £1,200,000 5 per cent, unguaranteed debentures we have also referred to, at a price equal to £95 15s net; but with reference to the further issue of unguaranteed debentures it is understood that a most satisfactory arrangement has been entered into with the Treasury, by which the guaranteed debentures may be looked upon as a deposit fund to be drawn upon when the state of the money market in London will not admit of the unguaranteed debentures being issued on favorable terms. The arrangement with the Treasury provides that the guaranteed debentures shall be issued at the rate of £200,000 annually, and be sold from time to time only as the New Zealand Government requires their proceeds. We hear also that urgent representations were made to the Colonial Office as to the necessity for strengthening the squadron in the Australian waters, and of stationing two vessels specially on the New Zealand coast. Assurances were given that it was intended to strengthen the squadron; and, whilst departmental reasons prevented the giving an absolute promise of two vessels for New Zeeland, it was intimated that the Commodore had been informed that it was considered by the Admiralty to be advisable that vessels under his orders should show themselves on the New Zealand coast as frequently as possible. In fact the special attention of the Commodore has been called to the subject. In connection with the defence of the colony from foreign aggression it is not to be surprised that Mr Vogel should have turned his attention to the general defence of the principal ports of New Zealand, and we

accordingly bear of direct communications with Colonel Jervois, C. 8., at the War Office, when important recommendations as to the use of torpedoes and other means of defence were obtained from that gentleman. The main object, however, of Mr Vogel’s visit to thiscountry has been the carrying out of the policy of the present Government connected with the public works and immigration, a policy with which bis name will probably henceforward be associated. Owing to the shortness of his stay in this country an amount of bard work bad to be got through which will effectually redeem bis visit from the character of a pleasure trip, even though no railway contracts had been entered into ; but we are informed that, within an hour or two of bis departure from London a most important contract with Messrs Brogden and Sons was signed for the construction of railways in the colony, either upon a system of direct guarantee, or by guarantees in connection with a system of land grants and with emigration, the Government being at liberty to elect between the two systems. The details of these contracts are as yet necessarilly private, but the engineering staff proceeds to the colony by the present mail, and the Messrs Brogden, in proof of their bona tides, have deposited with the Government bankers in London securities to the value of £25,000.