No. 21. flrb) Dc.ilantr.

HOUSE OF REPRESENTATIVES

SESSION 111.

FRIDAY, SEPTEMBER 7th, 1855. The House met pursuant to adjournment. Present :—The Speaker and 15 members. The Speaker read prayers, and look the Chair. The Speaker read the following letter from C. B. Adderley Esq., M.P. — "House oi Commons, May 11th, 1855. " Sir,—My object has been, since I received copies of resolutions from the House of Representatives of New Zealand, requesting me to act on their behalf in taking lor the settlement of the New Zealand Company's Debt, to induce the Government to offer facilities to the Colony to raise a loan to pay off at once, or in a few years, such a reduced amount of the Company's claim as they might be willing, in consideration of secure and prompt pa)ment to take in composition. " I have, with this view, seen Lord John Russell on the paH of the Government, and Mr. Abel Smith and Mr. Wangles on the part of the Company. " The Government has expressed a willingness both to me and to the Company, to act on my suggestion; but the Company stand out for no less a sum, by way of such composition, than £220,C00. " This I conceive to be unreasonable. I stated to Lord John Russell that I thought £150,000 would be a right and fair composition, ar.d that the Government should enable the Colony to raise such a sum cheaply by the guaranree of the Impel iaiPrliament.

MINUTES OF THE PROCEEDINGS OF THE HOUSE OF REPRESENTATIVES.