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New Zealand Times, Volume XXX, Issue 4359, 10 March 1875, Page 2

.The English and European news,,to hand by the Tararua at- Hokitika, is more than usually important. . To begin,-with,'the colony is to be congratulated on the' successful. negotiation ■ of- the Four -Million Loan, through the great banking-house of Rothschilds.' The 1 particulars’are nbt stated, but these may' b6 , ' ! exsected' , by next arrival dlfOih'Austr'alia..! Tt'will be observed that the: telegram t<r the Go‘vefh- J ment was a joint one from Messrs,’ VodEL,''' July an, ' Sargeaunt; * and FkATHERSTON',’ ‘ so ; that these gentleiHkff'were in! the transaction on behilf of the cblhny.'* Tliis intelligence, we : djAbertain, ynll he, received with satisfactiorrby all ’classes id 1 thb community. It.is appoint of no ordinary. kind gained . to' attach .the, sekiips, 16 r bTeiv meanst'ob.f. members of that firm having always manifested great dislike to, ,colonial, securities. , pPhe next item, is not so. very ’ 'satisfactory! 1 The February 1 series of wool sales opened at a dc^lipe 1 of a penny to three-half-pence per pound,'as,compared with' the last series ; blit’itlater 1 , telegram explains, that 1 ; the' epmpetition,.iha(J j-in-creased ' since the opening,. prices, remaining firm at the' reported; reduction; /the quotations being oh a par with , the: .lowest, rates of the last May series. It is to .be hoped that, as the sales ■ progress, iprices will harden. So very much 1 depends upon the price of wool,-that New Zealand colonists are naturally anxious; on the subject, and r will await further, advices with' considerable solicitude.. It'will be observed that ho New Zealand wool was offered.

- As we anticipated would be the case, John Mitchell, has announced, his: intention of again standing for the representation of Tipperary. There can be no doubt of the result. The Government cannot, at this lapse of time, arrest Mitchell as a convict illegally at large; public opinion would revolt against it; and,to deprive him of civil , rights in consequence of political offences committed twenty-seven years ago, is a mistake on the part of the authorities which will X’ally round him many persons who would have otherwise stood aloof. In this instance, we think, Mr. Disraeli’s usually sound judgment has been at fault. The conflict between the Vatican and the German Government continues. This time it is the Pope who explodes a missile in the German camp.' • There is little reason to doubt the loyalty of the German Bishops to the Vatican, yet history furnishes notable instances of an opposite procedure by Catholic Bishops when a national question was raised by the policy of the Papal Chair. The next move on either side may bring the combatants to close quarters. Of the resolute determination of the German Government to subordinate the Ecclesiastical to the Civil Power there is abundant evidence, and as a purely political question every lover of civil liberty must wish it success. ,

Honors have been again showered upon colonists by her Majesty, and Now Zealand feels the influence of Royal favor. The Hoh, Major' Richardson, Speaker of the Legislative Council, has been knighted. We congratulate the lion, and gallant gentleman upon his well-won badge of knighthood. Nor has

death been idle, another great man having gone to, his last account. v The Qf ■ Sir Charles Lybll’ will be regretted wherever science has a votary. From Melbourne, we learn that the Victorian Banks, have followed the lead of the Bank of New Zealand, and offer 15 per. cent, on, deposits .at six months, and 5 per cent, on three months’ deposits. This simply* means correspondingly high rates of discount, . and- crippling of business. A short time, will reveal the outcome of this competition for money by the Banks.

We perceive that tenders have been called for in London for an eight years’ contract for the San Francisco mail service. The time is long enough to secure an efficient service on reasonable terms.