ORIGINAL CORRESPONDENCE. To the Editor of the New Zealand Spectator.

New Zealand Spectator and Cook's Strait Guardian, Volume IV, Issue 316, 9 August 1848, Page 2

ORIGINAL CORRESPONDENCE. To the Editor of the New Zealand Spectator.

Wellington, 2nd August. 1848. Sir,— The great importance to the future interests of this colony involved in the recent arrangement entered into by Lord Grey with the Directors of the New Zealand Company constitutes, I hope, a sufficient apology for my troubling you with some remarks indicatory of the .evils .which, I fully believe, that arrangement will entail upon the devoted unconsulted colonists of New Zealand. The Company complain of certain injuries inflicted upon them by Government, and demand compensation; — the Government, as represented by Lord Grey, admits the claim, "anil proposes the arrangement of which I am about to speak, as" compensation and a little more, — in fact, as combining payment for the infliction of knocking down together with a restorative medicine to promote locomotion. My object is not to enter into a criminatorycharge against the Company, nor to investigate the justice of its complaints : — such an attempt would be useless, for it would serve no practical purpose; — it might strike the chord of prejudice and rouse the discord of passion, but I would rather sweep the strings of reason and elicit the harmony of truih. Much, perhaps, maybe said both for the Government and the Company, and future history will pei chance hold the scales more justly and balance more correctly the moral account between those heretofore antagonistic parties, than can. be done at -present. Grave, indeed, will the verdict be against those that are culpable, for it will decide whose conduct precipitated the Southern settlements of New Zealand into that chaos of disaster, blondshed, bankruptcy, and rebellion, which for five years, — from that fatal day on which Bfitish blood was shed by the lawless savage on the plain of Wairau up to that inglorious epoch when, on the battle field of Wanganui, marauding maoiies did not fly from British bayonets, — ha 3 not only humiliated the majesty and derogated from the character of England, but has also ruined and destroyed the happiness of multitudes, and almost plunged New Zealand into" an exterminatory war. — Posterity must record this verdict, — partiality, prejudice, disappointment, and misfortune, naturally preclude us from clearly ascertaining whether we are to blame the grasping avarice of'a Company or the maladministration of a Government, as the cause of so much irrevocable evil The recent arrangement with the Company provides that for three years, commencing from the 6th April, 1847, a loan of £136,000, spread over that time should be made to the Company, that to them should be given the entire disposal of Crown Lands in New Munster, and the right of pre-emption of all native lands there; — it then divides itself into a twofold character contingent on the continuance of the Company after a lapse of three 5 ears. If they continue, they must repay the English Government all loans, but they "may appropriate permanently all Crown lands — if they do not continue their debt to the English Government will be cancelled, and they are to receive ss. per acre for all the land formerly awarded to them (1,073.482 acr e S — This sum (amounting to £268,370) is made chargeable on the Land Fund of all New Zealand, and an annual payment of interest at the rate of 3£ per cent, (amounting to abi.ut £9400) is guaranteed from the same source. Before I endeavour to show the injurious results to this colony in case either of the Company's existence or decease after 3 years, I must first premise that even the advantages of their intermediate life seem rather problematical, as far as we are concerned. In 3 months half their time of grace will have elapsed, ana hitherto they have shown no proofs of resumed colonisation (the express object of their resuscitation), except as regards the new settlement of Otakou, which had been promised many years back. No attempt to promote the prosperity of the old settlements has been made, — the creation of new ones appears to pay best, — and we accordingly hear rumours of more proposed quasi — theological settlements, — more drafts on the Exeter Hall bank of credulity,— that of mercantile speculation having been long since,, drained. The long headed merchants of' ; theS City have become too sharp to contribute their hard earned funds towards the formation of model Utopias, — hut only let a long sanctimonious epithet, as " Free Church of Scotland," " Protestant Anglican." &c, be italicised in a prospectus, and immediately the charitable purses of~a " Holy LegionV (so careful of religion ijv distant parts and so negligent of it in their own* parishes) shower their treasures on the blffssegj work. I now revert to the consequence's of the arrangement made with the Company. , If the Company continue, after 3 years all Crown lands vest entirely in them, and as a consequence, the whole Southern and Middle Islands, and half the Northern one become their territory, "and domain. They will then be our virtual Government, — the real monarchs of New Munster, and we shall no longer be ruled, as we now are, by the responsible. bufeaudtaracy of Downing-street, but, what is far worse, by interested speculatorsin" New Zealand House." Government will "then be bound, hand and, foot, and only rendered useful m the preservation of the peace among.the Company's feudal vassals. Representative Institutions, a free Press, and the EngMsh character, mu-t eventually subver| this intolerable state of affairs, but what a train of evils would in the mean time have run riot through the land! " If the Company-do, on the other hand, die on the 6th April,, 1850, (and this is highly probable, for their riwn interests clearly indicate the expediency of such a death), what wil the result be? Tlie La'nci|Fund of all New Zealand is saddled with, in all liuman probability, a permanent debt of £268,370 and an annual payment of interest to the amount -of £9400. Now.it must be remembered that this arrangement has been made, when the Company themselves (not '

peculiarly famous for the over moderation of tbeir claims) propose " the transfer to the Government of the 1,073,000 acres of land to which the Company has at present a right, together with an obligation to satisfy the engagements ot the Company, as above stated ;"— | h es / e^ ng ? ge ". ments they stated to amount t0 £394,000. about £100,000 of which was owing to the Uovernment itself. Instead of agreeing to this comparatively moderate proposal, Lord Grey prefers what he appears to think a better one, which is to the effect — in the event of the Company's death — of cancelling their debt (what with sums already lent and promised) of £236,000 to the English Treasury,— of relieving them from all liabilities incurred during the three years, and of comi elling New Zealand to pension them off with £9400 per annum till it is able to liquidate in their favour a debt of £263,370. This will be an easy death-bed with a vengeance! — rather pleasant than otherwise. Lord Grey very prudently (as regards the Company) charges the payment of this money on the Land Fund, the only fund orer which the Crown has an exclusive power, the only one disposable at the dictum of a Secretary of State. It is true that an Act of Parliament has enjoined its payment, but would any Legislature in New Zealand willingly admit such a charge in the Colonial Estimates? In the Northern Province they would very justly argue that their colony had in no way benefited, but materially deteriorated in consequence of the Company's territorial speculations in the South. _ Their settlements have been abused, vilified, ridiculed, and injured by the Company and its agents, and is it just that thoy should be compelled to pny their traducers at least (taking the half) £4700 a year, so much being a dead loss to their Emigration Fund? Even here, notwithstanding all the beneficial presence of the Company, I think a Legislature would hesitate in sanctioning a yearly pajmenl of nearly £5000 to a Company, who in future are not to stir a finger on account of the colony, except to receive the instalments of this debt, as they fall due, who are to be " for all other purposes dissolved," except that of annually absiracting a certain quantity of the colonj 's life blood. They may prosper but our emigration will decay, and their affluence will be at the expense of our po\eity. It is a mere quibble to say that Lord Grey places " Emigration" and "Survey Expenses" as primary charges on the Land Fund, for if this pension is to be paid at all, it must^pro tanto be a reduction of our resources for the promotion of Immigration. V.'c aie ceri.iinly between Scyllaand Charybdis. If the Company live, their living will be a millstone on our necks :— if the Company die, their surviving spu it will cost us a precious siim to keep quiet; — their manes will imperatively require the yearly hetacomb, — and crave their pound of flesh " the penalty and forfeit of their bond." I think it would be almost preferable to have the animated body, unpensioned and " to find" itself, than the incoiporeal soul with the concomitant disadvantage of such expensive board and lodging allowance. A detail of fuither evils likely to arise either from the Company's continuance or dissolution would lead me into too great length, and, Ifear, I ha\e already trespassed _. on your patience. These evils are surely obvious to every intelligent mind of resident colonists, — if not, you, Sir, are well able to specify them more particularly. Between the horns of so dangerous a dilemma has this famous arrangement, proposed by Earl Grey, accepted by the Company, and now rendered law by Imperial Statute, lc ft the colonihts of New Minister. I remain, Sir, Your obedient servant, A Colonist.