New Zealand Spectator, AND COOK'S STRAIT GUARDIAN. Wednesday, December 8, 1847.

New Zealand Spectator and Cook's Strait Guardian, Volume IV, Issue 246, 8 December 1847, Page 2

New Zealand Spectator, AND COOK'S STRAIT GUARDIAN. Wednesday, December 8, 1847.

The late arrivals do not appear to have brought any news of particular interest relating to this colony. There is more of promise and preparation than of actual performance. A New Zealand bill (No. 2.), embodying and confirming the principal conditions of Lord Grey's late agreement with the New Zealand Company was in progress through the House of Commons. We have given a summary of the debate on its second reading from the i imes, and intend publishing the bill itself for the information of our fellow settlers. The debate appears remarkable for the agreement of the members in its provisions, their expression of confidence in our present Governor, and their approbation of his policy. The' new loan to theNew Zealand Company appears to have excited theire of our Sydney contemporaries. The Sydney Morning Herald indulges in sundry babblings about "pet colony," "headlong favouritism," "offensive partiality," and exhibits other indications of petulance and querulous jealousy. New Zealand is oneij of the best customers to New South Wales; its extensive pastures afford an opportunity of profitable investment of capital in the establishment of cattle stations, and a ready outlet for the superfluous stock of the older colony which must be a gainer by our prosperity. Our Sydney contemporaries would therefore evince a better taste by exhibiting a little more cordiality in their remarks on New Zealand affairs. Lord Grey's despatch in reference to the New Zealand bill is explanatory, and seeks to reconcile the settlers to the proposed arrangement by shewing that its provisions are intended for their ultimate benefit in promoting immigration and in increasing: the value of their property. His lordship at the same time takes the opportunity of explaining some points as to the iuture sale of lands, and their temporary occupation for pastoral purposes in the neighbourhood of existing settlements . The new settlement at Otakou moves but slowly, it was supposed the first settlers would sail in September, but no definite arrangements appear to have been made.

The Trident, whaler, of New Bedford, arrived on Saturday, having left Roratonga in the Society Islands on the 15th October. The Parachute, of New Bedford, was at Roratonga when the Trident sailed, last from Kamschatca,, full and on her way to the United States. The Trident came south of Stewarts Island, and by the West Coast of the South Island. When off Stewarts Island, about a fortnight ago, she encountered a heavy gale in which two of her boats were washed away, and her rudderhead. She has put into this port to repair damages. The Trident has been twelve months out and has 900 barrels of black oil.