PEACE OR WAR IN NEW ZEALAND.

Otago Daily Times, Issue 12, 28 November 1861, Page 5 (Supplement)

PEACE OR WAR IN NEW ZEALAND.

(From the Sydney Morning Herald.) Peace may be had from the natives if,\ye w.ithdfaw'pur troops;■■ if we abandon our land ; jfwcco'tfi&& ourselves guilty'; if we sue for

pardon through those maudlin, agencies by which we have beeu accused of crime; if all idea of extensive colonisation be-finally abandoned: if the colonists? consent to be the mere traders of a port, -and, calling io their outposts, leave the entire country to be owned by the aborigines, Be it remembered, however, that this land rt ever \*as theirs, that they bestowed upon it none of that culture which tonstitutes a personal right to possession. It will be simply rtn act of British policy yielding up the country as •<>■ sacrifice to the native pride and to ecclesiastical, ambition, avid postponing to some futore time the difficulties of which a hollow peace may be an artful screen, but a screen behind which will be hidden volcanic passions Jturd settled jealousy ; which will burst out; whenever the hour of national trouble shall come. »«d foreign nations seek the colonial ruin. If the dependencies of the Crown are wo::rh having they are worth preserving and goverohsg. The expenses of the war may be.great, and the final subjugation of the natives difficult, hut It is required by humanity as the only alternative of a war of extermination, j't is necessary to establish the confidence of the v*oh>iHsts in British role; If the policy cf Dov/rung'-street is to tie the aims of settlers to 'proven* their carving out for themselves an ioberiuroee or combating the foes which may a3S'ai?.'it"(and to that policy we have no objection, providing tne presiding spirit be just), lot it be remembered that the duty of protection *md impartial rule is made by this-colonial impotence still more .the-sacred duty of the Crown. To forsake them after having raised the strife is to make r.hem feel that they.are the subject people—the bondmen of the aborigines, and that-in planting New Zealand *bey placed themselves under the dominion, not of »,-"British Frioe?Hs ''but of a Maori King.

The Home iN*v.-s reports as follows, under its money market *.<>«! <dty intelligence : —

Ctty, September "26.

In our last we jo ported a fall front six to four and a-half psr cent., and we have now to advise a further reduction to/three end a-half per cent. Markft dosing very easy. Good bills done in open market at a f<uar>er per cent, below die bfmk rate. Owing to continued ea^e .iv the money market, business in Stock Exchange has been very active. The E-nglish Funds in particular have materially advanced. Colonial Government -tfecHriiiea have- shared in the general improvement- Great excitement has been occasioned in the Stock Exchange by the announcement that Mr. Augustus Cooper, one of th;e largest jobbers or dealers in... Consols, with a million oi' open stock, was unable to meet his liabilities ut .the monthly, sewlemeiit on the 10th inst; Consols, lor ro'>n v ey r .793^--; do., for account

V":! 0. . Exports to Melbotirne and Geeiong, £373,951, against; £573,578 in July and August. Decrease io the month, £199,427. Large falling" Vi'fi' in' exports of all. drapery goods, apparel, I and wrought leather. Shipments of rum mid beer in glass,, .heavy; as also ; salt;- Exports -to ■• Sydney, £-224,929, against £221,728f0r '■• .liily--August/. Increase in month, £3,206. : Ueayy shipmeai,s. of rum, white and red ' wine's!'' usetals, haberdashery, wrought leather. , Colonial Gc*v£>;muc),-\. Securities.' --New South Wales Five per Cents., 1806, 99^- to 100|; Victork Six'per Cents. (April and October), 108^ lo 109. , The excitement ia the Liverpool .;cotton market continues. A .iVtvther important rise;, amounting to :-n;mm f-, tkrihing per lb., has taken place.

London Wool Report, September '2,6. — Since the close of the Last sales, inquiries in this market hawr been limited, with- the exception of a few well selected New Zeaiands and greasy Adelaides, which have sold at Id. profit. Unless There be a decided improvement in the demand for woollen goods in the north before the next-sales commence, higher prices can scarcely be anticipated. Indeed, if the closing rates of A ugtisfc can be maintained, merchants will hr-ve reason for congratulation —looking to the fa far, 'hat between 60,000 and 70,000 bales wjil he submitted and sold, for it is quite cert-am rbut holders will oot keep stock in the face of the increased export expected for 1862, art j of which it is believed the July and Ajrtgasc sales will, as tas.t, year, contain a large proportion.

Produce Market. —-Hides in bettc;' demand at one-eighth of r* pen ay per pound advance.: Leather much., lower in . price, bui : ■■& good quantity met w'lilu boyers. Bark. — Decline of 10s. in Mimosa. Shins.—-Australian sheep sold by auction fit lull prices. Tallow.— " Large quantity m* A uscralian sold, at from average of 43k/ to . 4Qs. Corn.—Prices of wheat advanced iVom. ■;*»«. f:o 4s. per--qusrrer, owing to demo.m-3 for export ro induce. Spirits, with the e/oeoviort of brandy, ft re all: lower in price.

The Gopenb'r?gco U^s recently "lauded in Victoria-a vala'>h!<-- fright of live stock, consisting of 3 per- 9><ni-ho.ni bulls, 1 Hereford bull (winner of the .-ccood prize ac ihe Royal Agricultural kodr^d show this year. I Herefbrt cow (Ida), \ .-.bori-horn heller, in calf (Queen's Ist), i'rmvf the celebrated herd of Mr Rae ; 2 thoroughbred m*rcs, 2 Sirfifblk .mares, 1 Clydesdale mart-, -i Shetland pome*, > pure Southdown rem- -a.nd vO ewes, 2 cmrrassow'S 2 macaws, 5 c!evoy, (hicks,' 2 swans, 4 greyhounds, 1 pointer, - fo'xos, anda large number of cocks and bon • (HpM'dsh, Dorking, Hamburg), Norfolk. 00i-y, ■■"■•nd Aylesbury ducks. The cows, Ida vu?.d Quced* Ist, are considered of the best bhv^: sh-.n Ud> hv<hd m this colony-

The following, from the Sydney Empire, referring to the liability of drawers of cheques and notes, is not without relevance to the case of the past-dated notes issued by the Bank of New Zealand : —ln the course of the trial of Hugh Wardlow, at the General Criminal Court, Sydney, a conversation was carried on for some time between the Chief Justice, a witness, and the jury, the result of which it may be important to have generally made known. The Chief Justice said, in conclusion, that if a cheque were dated on a Sunday, on the day of the millenium, or any other remote or impossible date, the bank, if the drawer had funds to meet it, was warranted and bound to pay it, notwithstanding the date. And in illustration of the principle of law, that no man shall take advantage of his own trick or nonsense, his Honor mentioned the fact that the Court compelled the drawer of a promissory note to pay it, although it was couched in these words :—"I promise never to pay," &c.— Sydney Empire.

Monster Nugget.—A report reached town yesterday —which, on the principle that what everybody says must be true, is entitled to some credence—that a nugget, weighing 115 lbs and a few pennyweights, had been found at Old Kingower. The precise locality not stated.— Inglewood Advertiser, Nov. 8.

Goim Discovery in New South Wales.— The ' Age' Correspondent, telegraphing under date the 12th November from Sydney says :— Private letters received this morning from a correspondent at Lachlan's diggings state that the ground opened up there has thoroughly satisfied the most brilliant expectations of the seekers after the precious metal, and that the field is likely to turn out to be the richest In Australia. These diggings are in the Western district, about 80 miles from Lambing Flat, 48 from Condollin, 46 from Canowindra, 75 from Orange, and 70 from Cowra. The shares in some of the claims are valued at £2000. One hole, four feet by two, on the lead bottomed on the sth, yielded 31 oz. 5 dwt., size of claim, 80 by 80; another, 22 oz, and will wash 5 or 6 oz. to the tub of four buckets. About 2) holes equally rich have been bottomed. Rich patches occur frequently, and a man took 54 oz. out of what he described as a billyful of stuff. The place has a lively appearance, as the diggers hoist a flag when they have made a good pile. A rush has set in from Lambing' Flat, and diggers, including some Victorians, are arriving in thousands. By Christmas, there will, it is calculated, be not less than 20,000 people on the spot.