Auckland 11th March 1867 My Dear Sir I am in receipt of your letter of 2nd Inst. and have today written Mr. Brandon officially in reply to your application for an advance for land purchases - Had your loan been in an available shape there would have been no difficulty in getting money on it, but any advance made on it, in its present shape could not possibly be reckoned as recoupable from sale of the loan, and taking this for granted, what hope is there of its being put in a negotiable form, as I understand no action taken by your Provincial Council will avail till ratified by the Assembly and in the present temper of our representatives as to Northern loans, it is hard to say what would be the effect of an appeal to them. If there were even any certainty that the whole question of Provincial loans would be grappled with next session, it might simplify the question; but I confess however much such a step is to be desired I feel doubtful whether we may look for definite action next session. If you can put your matter on any plausible footing I will gladly use any influence I have with the Board to get something towards what you want, but we have had too much experience of the impolicy of relying on Provl. securities, willingly to make any important advances on the faith of being able to realise them. There is no doubt your Province is in a more favorable financial position than most others but then comes the question is this favorable position so understood and appreciated on the London exchange as to justify the hope of your securities being more saleable than say those of Canterbury which are at present quite dormant in London. Can you not squeeze the £10,000 advance from the Union Bank which was originally stipulated for? You will have seen by the newspapers that we are or I would rather hope have been in the throes of a commercial crisis here I think the worst is over, but added to the faults arising from over trading I am sorry to say there have been disclosures of dishonesty enough to make one stand aghast. I am happy to say as far as we are concerned nothing has occurred to interfere with the onward progress of the Bank and I anticipate a favorable result of another half years operations. When are you to be up in Auckland. You have not yet seen my new house and on your next visit I hope you will oblige Mrs. Murdoch and myself by taking up your quarters in it. We are much delighted with the change from town and the progress of the garden is a great pleasure. With kind regards Believe me very truly D.L. Murdoch Donald McLean Esq. Napier