THE BANQUET AT DUNEDIN.

New Zealand Times, Volume XXXIII, Issue 5446, 10 September 1878, Page 2

THE BANQUET AT DUNEDIN.

The Mayor’s Speech, (from our own correspondent.)

The speech of the Mayor of Dunedin at the banquet on Friday in proposing the health of Sir Julius Vogel has caused a great deal of discussion aud criticism. I send a full report of his speech. His Worship said :—I ask you to give me your attention for a few minutes while I propose to you a toast which I think most appropriately appears on the programme this evening. It is a toast which may be received with enthusiasm by all—no matter what their political proclivities may b*, whether they be supporters of tho Ministry, or belong to that useful institution called the Opposition, (applause), an organisation which I am sorry to see appears now to be fast becoming scarcely as formidable as usual under a system of responsible government. This is a toast which I believe, were it possible to assemble them all together, would be enthusiastically received by tho whple population of the colony. It is the toast of “ The Author of tho Immigration and Public Works Policy—the Hon. S s r Julius Vogel." (Cheers.) It has been said, “ Give honor to whom honoris due," aud in proposing this toast I do not desire to detract from the merits of other people, such as those 'whose names have, been mentioned this evening in connection with the first railway in the colony. It does not in my opinion lessen the honor due to" Sir Julius to say that a similar idea bad occurred to his predecessors and contemporaries. In like manner it might be argued that the theory of gravitation had existed in the minds of men before Sir Isaac Newton had presented it to the world in a practical shape and demonstrated its truth. Other minds may have conceived the idea, but T : claim for Sir Julius Vogel the merit of having presented a scheme, in. a matured form, fully demonstrating its practibility and its usefulness, at a time of depression, when the country required a great mind to extricate it from its difficulties. What was the condition of . the colony at the period lam alluding to ? The country was suffering from the effect of the protracted native disturbances in the North, which had severely taxed its resources, aud nearly exhausted its credit. Trade was in anything hut a prosperous condition. Tho banka were calling iu their advances, and the panic was so great that it was difficult to realise securities except at a ruiflous loss. Men who under normal conditions, would be in, easy circumstances were reduced to bankruptcy, and a general feeling of insecurity prevailed. It may be said that crises are common to all countries, and that in tho ordinary course of things New Zealand would have emerged and have maintained her relative position amongst her neighbors. Possibly she might have done so, and in the course of a century or so have attained to her present rank. But undeterred by the discouraging state of affairs I have, mentioned, at this time, when the credit of the colony was‘nearly exhausted, Sir Julius Vogel proved himself equal to the emergency, aud by a bold stroke raised New Zealand at a bound to the foremost rank in the colonies of the British Empire. Men of less courage aud ability would have met the necessities of the time by means of revenue derived from the imposition of additional burdens upon the people; but the great man whose name I. have mentioned had not only the mind to conceive but the courage to propose and tho ability to carry through the grand policy one of the fruits of which we are this evening celebrating in the customary British fashion. His schema was by many regarded as wild and extravagant, and his proposal to borrow millions from British capitalists was considered preposterous, and the failure of, the proposed loan confidently predicted. He, however, successfully met the objections to his proposals, passed the measure through Parliament with the aid of largp-miuded men like himself, aud floated the loan. The colony then entered upon its present career of prosperity, Confidence was restored ;. trade flourished ; population increased, and property rose in value tenfold ; and this prosperity has since been felt by all classes of tho community. I venture to say, in conclusion, that the name of Sir'Julius Vogel will not only bo inscribed amongst those of the ablest statesmen of New Zealand, but he will be ranked with those great men of the world who, disregarding their own interest, have devoted themselves to their country, and left behind them well-defined foi)tprintF|ou the sands of time. (Loud cheers.) I now propose to you "The Health of Sir •Julius Vogel."