New Zealand Spectator, AND COOK'S STRAIT GUARDIAN. Saturday, October 9, 1847.

New Zealand Spectator and Cook's Strait Guardian, Volume IV, Issue 229, 9 October 1847, Page 2

New Zealand Spectator, AND COOK'S STRAIT GUARDIAN. Saturday, October 9, 1847.

It is very unfortunate for the interests of the Southern settlements that the communication with Auckland should be so irregular and infrequent. On referring to the proceedings of the Legislative Council it will be found that in the interval previous to our last intelligence from Auckland, a great portion of the business of this session has been transacted, and it is possible its sittings may have terminated before our next communication with the Nerth. Under such circum-

stances criticism or remonstrance is unavailing, because it is too late to have any effect. We were led into these reflections by a perusal of the Debenture Security Bill, by which the principal and interest of the debentures is charged upon the general revenue of the colony, and on the division of the colony the debt is to be apportioned to each province in equal shares. We certainly object most strongly to such an arrangement, as we conceive that this debt ought in common fairness to be discharged by the Home Government. It was contracted by Captain Fitzroy, who issued three times the amount of debentures prescribed by his own Ordinance, and it is unjust that the settlers should suffer for his delinquencies when they could exercise no control over his acts, especially when we consider the loss they have already incurred by these debentures, amounting in most cases to 20 per cent. But if this injustice be committed, if the debentures be made payable out of the revenue of the colony, we submit that a further wrong is inflicted on the Southern settlers in the apportionment of this debt. By far the greater proportion of debentures were spent by the Government at Auckland, in payment of the salaries of officials and in defraying the expences at the north, including the expeditions to the Bay of Islands. If an official return were published, distinguishing the amount of funded and unfunded debentures at Auckland, and those at Wellington, it would be found that the amount at the North greatly exceeds that at the South, so that while the Northern settlers benefit by the greater amount of expenditure, and all the advantages the seat of Government can confer, a, portion of their debts is to be placed to our account. ■ It is true that provision is made for paying off, the debentures out of the surplus revenue of the colony, thus deferring their payment to an indefinite period, which may afford an opportunity for a more equitable arrangement.

On Thursday night Mr. Ashers new store on Lambton Quay, was broken open and robbed of a piece of duck, six pairs of shoes, and -other articles. The thieves obtained an entrance by forcing the lock of the door. No clue has yet been obtained to the perpetrators of the robbery.