The Waikato Times. SATURDAY, JUNE 8, 1878.

Waikato Times, Volume X, Issue 930, 8 June 1878, Page 2

The Waikato Times.

SATURDAY, JUNE 8, 1878.

Equal and exact "justice to all men, Of whatever state or persuasion, religious or political. * # * * * Here shall the Presß the Peopijb's right maintain, tTnawed by influence and unlnibed by gain. • ■ '

The further intelligence received m connection with the floating of the New Zealand loan affords increased matter for congratulation. Not only was there a scramble for the stock, but it has been floated at par, that is, every hundred pound debenture will bring to the colony a hundred pounds sterling. In the case of the last loan, that was issued at only 98, and these were thought to be far .from bad terms for a colony which had ev«m then, it was supposed, so largely discounted % the future. But' New Zealand m no ordinary colony, and the public mind at home is becoming every year more awakened to this fact. It is essentially a land suited for the re-production of the AngloSaxon race m all its energy and vitality. Rich m coal, gold, copper, and a variety of minerals, with a seaboard that must «>me day make it the greatest of maritime powers, whether for war or commercej it possesses the most genial aud healthful climate m tbe world, and one best suited to the race which is quickly re-peopling it. This large and magnificent territory, like many an estate now owned m it, had laid comparatively waste till touched by the magic wand of capital. It had been heard of as a fair and promising colony, possessing good land and a good climate; it had attracted a fair share of immigration, and languished m a sort of happy sleepy indolence, like its own settlement of Nelson. But it was held of mere secondary importance to the older settled colo :ies of Australia. This was the New Zealand of the lasu decade. In 1870, however, the genuis of a single man touched it as with the wand of an enchanter, and all was changed. A single stroke of policy, a measure of statesmanlike depth and grasp was joyfully accepted by the legislature {Hid the people. The Public Works and Immigration scheme of Mr Yogel was adopted by fche colony, which entered henceforth up m a career of rapidly inprcasing and un'orokeu pro-purity.

A lid as settlemant increased and the colonists gained m material wealth, the colony advanced m national importance. The individuality of pW Zealand was no longer, m the 'mind of the British public, merged iiiv that of Australia, as had largely heen the case. She scood forth boldly andjalone m the struggle for a national existence, for the foundation of future empire, aud took her place m the first rank of the colonies of Great Britain. The position which she reached has been steadily maintained, and we now find as the result, that at a time when the money market ah borne is most sensitive, when capitalists are m most cases content, to lose interest rather than risk capital, an application for a loan of three and a half millions is met m a single, day by subscriptions to the amount of upwards of niue millions sterling, and at par. A. combination", of circumstances at the present moment has doubtless combined to bring about this practical evidence of the British capitalist m his belief m the soundness and assumed progressive prosperity of the colony. Scarcely could the reading of a most able and exhaustive paper by Sir Julius Yogel, before the Colonial Institute m London on the prese-it resources of the colony and its capabilities as a field for investment, which was widely andfavoraby commented upon by the press at home, have produced the fuluess of its effect, before the crowning capital was added m the intelligence received from the New Zealand Government that ithe one great difficnlty m our. path, the single drawback to 'the rapid settlement and development of New Zealand, the native difficulty, had been removed. Satisfied of the capabilities of New Zealand, there was yet wanting this one assurance that they would have fair play m their development, that no further embroilment with the natives wonld drain our resources, and divert revenue which should go to the improvement of the public estate, and for the promotion of settlement, into •the worse than useless vortex of war expenditure. And this assurance came at the very nick of time. It will be a proud moment for the Government when it can meet the Assembly with two such announcements — thatithas removed' the King difficulty, and opened up the Ngatimuniapoto country, and that the first fruits of such policy has been the floating of a loan against the possibility of which there appeared such serious doubts m the threatening attitude European affairs had taken since the raising of the loan had been authorised m the previous session of the Assembly.