The New Zealand Times (PUBLISHED DAILY.) SATURDAY, SEPTEMBER 7, 1878.

New Zealand Times, Volume XXXIII, Issue 5444, 7 September 1878, Page 2

The New Zealand Times (PUBLISHED DAILY.) SATURDAY, SEPTEMBER 7, 1878.

Ministers do not seem disposed to profit by the instruction Major Atkinson offered them the other night as to the best way o£ enjoying “ political rest,” viz., in endeavoring to improve and consolidate the legislative measures which the constitutional change effected by the abolition of the provinces rendered necessary for good local government in the colony. The Houses have adjourned with the consent,’ if not at the instigation,, of Ministers, who have thus had given to them time to work up the lee way in business necessarily made while “ stumping ” during the recess; and we think it would have been more becoming now to devote attention to their official duties rather than to thelitorary department of their newspaper. We are glad to give such additional publicity as our circulation affords to the latest Ministerial effort in the literary line, and we reprint elsewhere in full the leading article of yesterday from the Minister’s newspaper, upon which we propose to comment. A discovery is said to have boon, made during the recent debate on the Land Tax Bill, that the late Government “had “ offered the Agent-Generalship to Mr. “ Stafford, and had determined to make “Sir Julies Vogel the agent for the “ conversion of the twenty millions of “ Now Zealand loans, under the Act for “ the consolidation of stock and upon this theme we have an essay which, for its flabbiness and cold dishonesty, is quite remarkable. The evidence of this discovery is to be found, ,wo are informed, “in the New Zealander’s ’’ report of Mr. Stout’s speech in the House, on Tuesday last, and is as follows : — 1 ' Then, as regards tho' inscription of stock, they had boon told that the Agent-Gohoralwiis to got an onor--mono sum for floating tbs. loan, ; ; The arrangement

was this; The Agcnt-Gouoral was to be superseded hi the office of Agent-General by a supporter of tlie late Government, and bo i©warded for loss of office by a large percentage of this loan. No Government had a right to make an arrangement of this kind without first coming to the House. • Major Atkinson said that'ho denied any such arrangement was ever made. Hia Government had never dreamt of giving a largo, commission-upon the loan. Whatever arrangement .was made was made entirely at the wish of Sir J, Yogol. Mr. .Stout—Will the hon. gentleman deny that his Government intended that Sir J. Vogel should cease being Agont-Goncvai, and that one of their political allies should bo appointed in his place ? Major Atkinson—Yes; if ho wished it. Mr. Stout—Then, I call that an arrangement, and that sort of thing shows the necessity there is for getting the Disqualification Bill passed. This, which is a positive denial, is coolly said by Ministers to bo an admission by Major Atkinson that his Government had determined to do tho two things which wo have noted above, that is, to make Mr. Stafford Agent-General, and Sir Junes Vogel tho agent for tho conversion of .the loans under tho Inscription of Stock Act. Now, with a perfect knowledge of tlio facts, wo venture to declare that this statement is an impudent falsehood, and that Major Atkinson’s Government had not determined to do either the one thing or the other. Mr. Ballance will probably remember that on the 4th October last he is reported in “ Hansard” to have asked the Premier (1.) Whether, if Sir Julius Vogoi is willing to continue Agent-General, the Government will avail itself of his services ? (2.) Whether tho Government has, directly or indirectly, promised tho AgeutGonoralship to any person other than Sir Julius Vogel! Major Atkinson was not able to give a direct answer to the first question. It would bo in tho recollection of tho House that tho arrangement made with Sir Julius Vogel was only to extend over one year, Sir Julius desiring not to bo bound for a longer time, and tho Government also desiring that they should only bo bound for one year, upon tho understanding that tho House would consider tho whole question of tho Agont-Gouoralship during the next session. As ho had already intimated ho would rnoko a full statement of the proposals of the Government in regard to tho matter, when tho vote for tho AgontGonorniship came on. The answer to tho second question was, that neither directly nor indirectly had any promise boon made to any gentleman. Tho Government were absolutely free in the matter.

As Major Atkinson’s Government went out of office on the Bth October, that is, four days afterwards, it is not probable that any now determination with regard to Mr. Stafford was arrived at in the interval. Buo Ministers may think they know better. Now, the other “ determination,” to appoint Sir Julius Vogel tho agent for the conversion of the loans, to which tho terms “a crime to the country ” and “ a nefarious scheme” are applied, is of tho character of those things which aro defined as “impossible;” and wehave it upon the authority not of Mr. Ballanob’s friend Mr. Cooley but of a poet known to fame asJj-BOROE Colman tho Younger, that—“"What’s impossible can’t be, “ And never, never, comes to pass.” Atthetime when this “nefarious” determination is said to have been arrived at the New Zealand Consolidated Stock Act, 1877, had not become law. The second reading of the Bill was moved by Sir George Grey on the sth December, two months after tho defeat of the Atkinson Ministry, and the Premier said then that it had been introduced to tho notice of Parliament by tho late Government. It was iu fact their Bill. Now clause No. 9 of that Act runs as follows :

9. The Governor in Council shall have the powers and duties and may do the following things for the purposes of this Act(l.) Ho may from time to time appoint three or more persons in England to bo agents for the purposes of this Act (which agents for the time being are in this Act referred to as 44 the agents”), and may empower such agents, or any throe or more of them, to exorcise all or any of the powers by this Act exercisable by the Governor in Council. (2.) Ho shall notify the appointment, of the agents to the Bank of England, and the power and authority of the agents shall continue in full force until the Governor notifies the contrary, and that notification is received by the Bank of England. (3.) He may at any time remove or accept the resignation of tho agents, or any or either of them.

It will thus be seen, first, that tho authority of law was necessary before any appointment of agents could bo made at all ; secondly, that it was never proposed or intended to entrust such an operation as the consolidation of twenty millions of stock to ono agent ; and, thirdly, that the Act provides that the powers given to tho Governor in Council can be exercised only by three or more of such, agents, and not by one agent. Now, it is a fact which cannot be denied that tho arrangement with tho Bank of England for tho inscription of Now Zealand stock and for its consolidation was a good one; that it has generally improved the character of our securities; and that it has helped materially in tho successful floating of the late loan. It is a fact which cannot be denied, that the credit of the inception of this scheme is due to Sir Julius Vogel, and that it was by his perseverance and influence chiefly that the Act of the Imperial Parliament was obtained, by means of which finally the scheme was rendered practicable. Under those circumstances wo think that Sir Julius Vogel had a just claim to be made not the agent, as is dishonestly suggested by Ministers, but one of the throe or more agents authorized by law to be appointed. It is, and will bo held to bo, a lasting disgrace to the present Government that they have not recognised in this business the just .claims of a man who has done so much, and is doing so much, for New Zealand, and that in the face of facts which they ought to have known, if they do not know them, they should have insinualated an accusation against him so base as that which is contained in the, article now in question. ,