The Express.
London, England, 1847-07-13 00:00:00

EVENING, JULY 13, 1847.

were sent boat without injury or insult. With respect to the
late governor, Capt. Fitzroy, although he could not enjoy
the confidence of the government which he send, he thought
that both sides of the house would give him credit for the
purest intentions—intentions which he had carried out with
the most exemplary devotion. (Hear, hear.)
Mr. W. PATTEN wished to know whether, in case the
lands of the company came into the hands of the government
in 1810, they would take upon themselves the liabilities of
the company ; whether those liabilities were to be defined
to money liabilities, or whether they included engagements
with private parties respecting claims for land and other
matters
Mr. HAW ES said it was one of the merits of the bill that
every question of liability was settled. Part of the money
to be advanced was to pay off present liabilities, and no
new ones could be incurred without the concurrence of the
Secretary of State.
After a few words from Mr. W. ParrltX and the Cuag-
CELLOtt of the Exertraat,En,
Mr. V. SMITH thought that the new prosperity of the
colony of New Zealand was entirely owing to the present
governor. He could not understand on what principle the
proposed advance was to be made. If the question of compen-
sation were raised, the house was bound to consider the leas
arising from breach of promise. Did the noble lord at the head
of the colonies mean to say that the money was offered on
the ground of compensation or on that of colonisation?
(Hear, hear.) He believed that the real cause of failure as
regarded the New Zealand Company was misgovernment ;
and if a claim were admitted on that ground, how could it
be denied in the case of other colonies of the British empire ?
The system of coloniestion and of land sales had been re-
peatedly changed in New South Wales, and the utmost
confusion had arisen from that cause ; it would therefore be
a very serious matter to admit the principle of compensation
on which this bill appeared to be founded. As to the
appointment of a commissioner, though he had no
objection to such a step, he considi red it improper to
sehject the selection made to the approbation of the
New Zealand Company. Such an arrangement was without
precedent, and, as they advised, he should move the omission
of the words on that subject. At present, he saw little pro-
bability of the establishment of aa amicable system in New
Zealand. Bishop Selwyn appeared to be engaged in a hos-
tile correspondence with the governor, and other symptoms
of discord were presenting themselves. From a sentence in
Lord Grey's last despatch, he learned that great jealousy ex-
isted on the part of the settlers towards the New Zealand
!Company. Believing that this colony was likely to become
exceedingly popular and beneficial, he was anxious to see all
possible causes of failure speedily and effectually removed.
Mr. C. BULLER wished it to he understood that the
governor was not about to incur absolutely all the liabili-
ties of the New Zealand Company. (Hear, hear.) If at
the end of three years that company should not continue its
operations, the government would then be one of the subsist-
ing parties to the arrangements which had been entered into.
His right hon. friend who had just spoken seemed to think
that the government should first have compensated the
company, and then nut an end to it. The reasons which
prevented the government from adopting that course were,
lies, that the question of compensation was exceedingly
difficult, the company being most able to compensate itself
by success, and secondly, that it was by no means desirable,
on public grounds, to pat an end to the company. (Hear,
hear.) Nearly all success id instances of colonisation would
bo found to have originated with private associations autho-
rised and encouraged by the government. If they were to
realise in New Zealand any of those great results of colonisa-
tion of which the past history of this country afforded such
splendid examples, it must be by affording the amplest field
for voluntary exertions. (Hear, hear.) He was happy to
find the house disposed to forget all past disputes an to
consider the measure solely with reference to its probable
influence on the interests of the colony.
Mr. HUME thought that the bill deserved the attention
of the whole country, being the natural result of the evils
which had sprung out of the colonial office. The house was
asked to grant 136,000/. in addition to the 100,0001. voted
last year, as a penalty for the mismanagement of an ineuel
pable colonial minister and governor. He felt sure that If
the noble lord now at the head of the eblonial office
acted on the principle whieb he had laid down, there would
be no recurrence of past evils. What the colonies wanted,
in order to ensure success, was self-government, accompanied
by private enterprise instead of official meddling. Seeing
that the New Zealand Company was bankrupt, and that
every acre of land which should be sold was to be used to
ware the repayment of the money advanced, he did not feel
justified in refusing his assent to the bill.
Mr. W. WILLIAMS hoped that, having obtained the aid
of public money, the New Zealand Company would pursue
an honest and straightforward course, and that the advantages
expected from the establishment of the colony would now be
fully realised.
Sir J. GRAHAM thought it desirable that this bill should
be discussed on its merits alone. (Hear, hear.) The hon.
member for Montrose, who did not always measure his ex-
pressions very carefully—(laughter)—had spoken of what
he called the former mismanagement of the affairs of the
colony. That expression bore more particularly on the con-
duct of a noble friend of hie (Lord Stanley) with whom he
was long associated, though he must make the painful con-
fession that he was no longer associated with him to
the same extent. He begged to state that all the
members of the late government were as respon-
sible as his noble friend himself for the course
pursued in relation to the New Zealand Company.
On the subject of the bill itself he felt it right to say that he
by no means dissented from the policy of the additional
grant. The company was not to be left to the uncontrolled
exercise of power, but, on the contrary, a complete and effi-
cient government control was to ha exercised. There was
only one point on which he wished for some explanation,
namely, as to the contingency of the company's failure. In
such case a payment was to be made of §s. an acre upon a
million acres. Was that to be a claim upon the govern-
ment? (An hon. Member : Yes.") Well, but was it to
he a payment male at once, or only when he lands were
sold ? (Hear, bear.) If the latter was to be the arrange-
tnent, his only objection to the bill was overruled, and he
could conclude by wishing the arrangement every success.
Lord INGESTRE bailed this bill as a great step in ad-
vance in the colonising arrangements of the country, and
expressed his thanks to the government for the business-like
way in which they had handled this difficult subject.
Mr. E. DENISON had some doubts as to the financial
arrangements of this bill under the contingency of failure
of the draping.
Mr. AGLIONBY said the proceeds of the sales of land
in such a case would barely repay the capital of the com-
pany. He thought it right to say, with respect to that
com-
pany, that their object throughout bad been not one of self-
interest, but solely the interest of this great colony
He bad little doubt that before the end of three years the
company would be able to show that their operations were
of great benefit to the colonists of Great Britain.
Mr. B. DISRAELI observed, that though gentlemen op-
posite might be satisfied with the arrangement that was
made, it was, in his opinion, equally important that their
constituents out of doors should equally understand the
question. To whom was this grant to be male ? They had
heard at the commencement of the session of grants proposed
to " destitute shareholders." Was this, he should like to
know, a grant to " destitute shareholders ?" (Hear, hear.)
Who were these " destitute shareholders?" Here was &joint
stock company in distress. They wasted upwards of 600,0001.
They added the common story of the insolvent court—" that
it was not from their own fault." (Laughter.) He re-
membered when this company circulated u report-
-1,068 pages thick—charging their loss not upon their
own bad management, but on the infamous conduct of the
Colonial-office. But, when the question was dimwitted, what
was the result ? Much they talked of their misfortunes, but
not ono charge against the Colonial Secretary was sub-
stantiated! They retired in ignorninous defeat! To-day
they talked of " not desiring to Pay one word which could
be construed into a personal reflection." This ill-used com-
pany ! This unfortunate company ! How were they ill-
used? What were their misfortune.? They appeared to
have had pretty pickings out of the public purse already.
They were now offered more of the public money at 31 per
cent., whilst every one else was paying 5. Ile had heard
much of insults to Ireland, but the greatest insult ever
offered was this of the Chancellor of the Exchequer getting
up and declaring that the security of Ireland was inferior to
the security of New Zealand. It was only the other night
that they were told by the hon. member for Dorchester that
they had to consider whether they should govern an empire
like pedants, or administer its ?volutes like statesmen. But
whilst so apt with his musty axioms, the right lion. gentle-
man to-night was registering his own condemnation, and
giving another proof of the value of protectionist principles.
The bill was then read a second time.
BANKRUPTCY AND INSOLVENCY BILL.
The ATTORNEY-GENERAL, in moving that this bill
be committed, stated that the objects of the measure were to
abolish the Court of Review, and the jurisdiction dependent
upon that court ; to transfer its powers to one of the Vice-'
Chancellors; and to save the country between 16,000/. and
17,0001. per annum, by abolishing the circuits of the insolvent
commissioners, and placing the business of these circuits in
the hands of the judges of the local county courts. The hon.
and learned gentleman denied that the bill gave any addi-
tional patronage to the Lord Chancellor. It, on the dn.
teary, diminished his patronage. The measure did not
at all alter the law of bankruptcy. The hon. and learned
gentleman concluded by expressing a hope that the mea-
sure, as explained by him, would meet the concurrence of
the house.
Sir J. GRAHAM concurred in the eulogium passed on
the latter part of the bill, and he was prepared to admit that
he was very far from charging the Lord Chancellor with a
desire to accumulate patronage. But with respect to the
three first clauses of the bill, which went to undo all that
had been recently done, and, above all, to restore and trans
ter back to the great seal the affairs of the Court of Bank-
ruptcy, it was asserted that two ex-chancellors were in
favour of the measure ; but it was a question which con-
cerned the creditors of the country more than the ex-chan-
cellors. There had been a commission appointed to inquire
into and report on the subject of the Bankruptcy Court, and
amongst the trading members of that commission were Mr.
Horsley Palmer, Mr. Wynn Ellis, and the hon. member for
Lambeth, the Under Secretary for the colonies. That hon.
member's signature to the report of the commission recom-
mended that bankruptcy should be severed from the great
seal, and also that the Court of Review should be kept up, the
reason assigned for the latter recommendation being that it
offered a stimulus to the Court of Bankruptcy, as the com-
missioners were promoted to judgeships in the Court of Re-
view. Upon the representation of that commission the exist-
ing law was framed, and it was now proposed by the bill
before the house to reverse that law. But there was more
than a mere change of name effected by the bill, notwith-
standing the hon. and learned geutleman had asserted that
nothing else was done by it. The bill, moreover, discos. red
a desire to retain old and useless offices, and the endeavour
to bring bock bankruptcy under the great seal was a proof
of this. Ile saw no necessity at all for proceeding with the
measure at the present state of the session, and, though he
was unwilling to interfere with t'ae government promedinv,

11....,,..:
frtiza' I
747

WITRAT AND WIREAT Fiora :
111.15 year ending June 5, 1843
• 1814
$9
1845
• 1816
1817
BARLIT AND lIAILIMSMZAL:
Half-year ending June es 1841
1844
• 1845
• 1646
9$
• 1847
08T! AND OATIMAL•

164,711

303,118
1,139,272
1,238,238

ice,.

939:91
318,931
99 135

ituartenk
33,803
19,813+
36,915
34,428
MIAS
7,168
1,38
369

13.11-yeer ending June 3, 1843
• 1844
0 1843
• 346
„ 1847

13-651
197,691
486,666

40,773
22,2716
23,992
17,903
9,991

1.;44..
Quertem'
130,416,
703,4491
1,104,844
68,603,
1
1,067,9301

349,681
367,76 E
96,n2(
$34,29:

31,930
. 1,350
130,395
179,798
478,1:64,

SANDWICH ISLANDS.—We have received files
of the Polynesian to the 30th of January last (inclusive).
It appears from them, that, during the year 1846, no leas
than 53 merchantmen, 17 men-of-war, and 167 whalers,
arrived at Honolulu, and 8 merchantmen, I man-of-war, and
429 whalers at Lalmina ;in all, 67.5 vessels. This is inde-
pendent of arrivals at Hilo, Hanalei, and other minor ports.
The gross value of imports it Honolulu in 1846 was
598,392 dollars, against 546,941 in 184-5, and 350,357 in
1844. The gross value of exports in 1846 was 763,950
dollies, of which orly 143,425 were re-exportcd foreign goods.