NEW ZEALAND SPECTATOR AND Cook's Strait Guardian. Saturday, February 12, 1853.

New Zealand Spectator and Cook's Strait Guardian, Volume IX, Issue 786, 12 February 1853, Page 3

NEW ZEALAND SPECTATOR AND Cook's Strait Guardian. Saturday, February 12, 1853.

The extracts from the Blue Book in our present number serve to throw additional light on the land question ; that from the Governor's despatch (Oct. 20, 1851) shows how Mr. Fox resorted to every possible manoeuvre he could devise to alienate as much land as he could during his term of office, undeterred by any scruples, and perfectly regardless of any considerations of justice, or legality ,or Acts of Parliament. In the other two despatches we see the Governor's anxiety to arrive at some final arrangement of the Companyls claims, which shall prove satisfactory and beneficial to the colony. The question which the Governor, towards the end of the first despatch, (May 22, 1851) submits for the decision of the Colonial Minister seems perfectly fair and reasonable, namely, whether, — seeing the large and valuable extent of land which, under the name of compensation and va-» rious other ways, had been disposed of by 4he late agent of the Company — some valuation should not be made of the lands thus alienated, and a deduction made from the amount to be paid to the Company under the Act of Parliament. It was to be presumed the Company would only part with their land either in satisfaction of some just claim or demand upon them, or for money actually paid, and it would be the height of injustice to call upon the settlers to pay the New Zealand Company for what the latter has not to give them. The settlers have as much right to complain, if theywere forced to pay by the British Government out of the land revenue to the Company for what they never received, as the Company would have, if the settlers were to repudiate the debt, after obtaining such lands as the Company might be fairly entitled to, and endeavou: by every means in their power to evade its payment. The very manner in which the amount is arrived at, being a calculation after the rate of ss. an acre on the amount of lands admitted to belong to the Company, seems conclusive against any attempt on the part of the Company to claim to-be entitled to be paid for the land which it had given away in compensation. But Lord Grey seems to think very differently; his answer to this plain question is very extraordinary. He says in his answer to the Governor's despatch :—": — " the principle of the Act appears to be, that £268,370 Ids. is to be paid to the Company after the rate of ss. for each acre of the 1,073,483 to the possession of which they were entitled at the passing of the Act j and therefore that the compensation assigned to them was calculated, not with reference to the quantity of land which might eventually pass to the Crown on the surrender of their Charter, but to that legally or actually in their possession when the Act passed." Nothing can be more unjust or absurd than such a proposition ; if carried out to its full extent, it would be in

effect to say that even if the Company had dissipated or given away all the land to which it was alleged to be entitled, if it had not an acre to surrender, it could still claim from the Government the whole sum of £268,000 and interest at 3£ per cent. Such a decision seems so extraordinary that it is scarcely possible to suppose it could have been arrived at except in the case of a Company, so many of whose Directors were members of Parliament, and whose influence in the House of Commons had proved so troublesome.

A large shark was caught yesterday evening off Messrs. W. B. Khodes & Co.'s wharf. The monster measures nine feet six-inches in length and may be seen at J. Wouldham's this day (Saturday) at Willis-street. The presence of these voracious monsters in this harbour should operate as a caution to persons in the habit of bathing.