THE POLYNESIAN SCHEME.

New Zealand Times, Volume XXXI, Issue 4848, 5 October 1876, Page 3

THE POLYNESIAN SCHEME.

TO THE EDITOR OF THE NEW ZEALAND TIMES. Sir, —Allow me’ to correct an erroneous statement contained in your editorial remarks of this morning. I am not seeking compensation from the colony for the conception of “brilliant” ideas, but for the wrongful action of Sir Julius Vogel. ' With respect to the Polynesian Company formed in Melbourne, it is a very sorry example to put forward as a precedent for my scheme. The history of that company is one well known in the Pacific, and Ibelieveher Majesty’s Government refuse to recognise its claims. As to ,the prospectus, I, can assure you, sir, that I have never seen it, and besides totally disagree with it as explained by you. My plan especially avoids banking and cultivation —two things which would ruin any institution for many years to come. The framers of that prospectus, and also Sir Julius Vogel himself (who wrote a letter to a friend in England in 1872, proposing a banking and commercial company—which I believe has been done by twenty other gentlemen at one time or another), appear to me to have been, totally ignorant of the true wants of the Pacific. As 1 have already mentioned, I managed a company for the cultivation of “ cotton, sugar, coffee, and other tropical productions ” for two years previous to proposing my scheme, and witnessed its failure, and the loss of £IO,OOO. I also proposed and assisted in establishing the very banking company concerning which Sir Julius Vogel wrote the letter referred to. It appears strange that Mr. Woods offered this banking concession to Sir Julius and myself; but I believe that it was offered to many other gentlemen, The latter company has also failed. Both institutions collapsed.from the want of one thing especially provided for in my plan—local management. You cannot therefore put forward, this Melbourne company, or Sir Julius Vogel’s letter, as a precedent for the Polynesian scheme ns proposed by me. ■ X intend shortly ,to take an opportunity of publishing that scheme, which will set at rest your apparent anxiety for finding an author for my ideas. Do you not think, sir, that it would be fair and generous on your part to leave the matter alone until it is settled by the House. Sir Julius wrote you, a longletter of explanation, to which I replied, and in concluding my letter I sincerely trusted that the subject might be allowed. to drop.—l am, &c., . i Coleman Phillips. Wellington, October 4.