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English
Charing X Hotel October 6 1870 My dear Fox There is very little use writing, as I leave this on ar about the 26th to join the Steamer at Suez on the 13th Novr. and shall be with you about the 5th Jany. Bell proposes to start tomorrow night. I have given up the San Francisco route with very great reluctance but there seemed such an uncertainty about the service being continued, that I did not like to run the risk of being stuck up at Honolulu especially as I have already taxed the friendly feeling of the Council rather severely. I scarcely yet know how I shall reach Alexandria, The road from France to Marseilles is closed, I fancy I shall have to find my way through Vienna either to Brindisi or Constantinople. Morrison had taken me a berth from Southampton in the Bankers or Barbers -but this I couldn't stand. I think you will find that all possible arrangements have been made here for carrying out yr. comprehensive policy. You will receive a mass of evidence shewing that3 ft. 6 in. is the guage you must adopt for yr. railways - and that the cost (including rolling stock etc.) will not exceed £4000 a mile - You will also I trust receive an offer from Sir C. Fox's Company to execute yr. preliminary surveys. They assure me that if you guarantee an interest of from 5 to 6 p. c. on the capital expended, they can get companies to undertake all yr. railways - in other words adopt the Indian system, and you need not borrow for yr. railroads - and will besides exercise a full controlling power upon the cost etc. Emigration has been already started from Norway, Sweden etc. and can be increased to any extent on favourable terms- Similar arrangements have been provisionally made with agents here and in Glasgow. With respect to finance I see no reason to doubt that you will place your loan from time to time at a price not very much below the present quotations. The result of the present war has been to accumulate capital in England. Vogel complains that we have not arranged for a submarine cable between N. Z. and Australia - but we sent you out a distinct offer from Henley - and you havent accepted it. With Vogel's arrangement in Sydney, we could not do more - A good service via Francisco would have been established, had it not been for the contract with Hall - You have had all the information we could obtain respecting Flax - and I believe in it as an export (probably the most valuable we have) more firmly than ever. As for Meat preserving Australia and N.Zealand cannot possibly supply the demand - You all underrate the advantages of the Million quarantee - you forget that a guaranteed Loan of 4 p. c. would realize a premium of from 5 to 7½ p.c. and that there is no sinking fund attached to it until it has all been expended, or till the expiration of ten years - Besides the name of the Impl. Gov. to it, enhances yr. credit in the market for other loans. I only wish for the sake of the Colony, it had been received more graciously, and not in the snarling spirit of the ''Times's Correspondent'', who I must say has succeeded in writing most damaging letters to the Colony. I dined with your Brother and Niece the other day at Durham, and enjoyed my visit amazingly - I hope you have agreed to Morrison's claim, which is exceedingly moderate, and have given him an adequate salary for the future. I came home perhaps rather prejudiced against him - but I find he has been a most efficient, and faithful agent - and has often protected the credit of the Govt. by advances from his private funds. He has sometimes been out of pocket some three thousand pounds. We have now made arrangements to prevent this in future but this does not condone the past What with theexpense of offices, clerks etc. he can scarcely be said to have pocketed any portion of his salary - and we have now thrown increased responsibilities and burdens upon him - He is of course thoroughly up to the English Emigration and as he accompanied me in my recent trip to Norway and Germany, he is thoroughly cognizant of all my arrangements, and is really the only person capable of carrying them out - During the whole of our various negotiations, we have taken him completely into our confidence, and he has rendered us very valuable assistance. Consolidation of loans - altho closed, we have authorized Crown Agents to buy up on advantageous terms any Bonds that may be presented, i.e. if they see their way to making a profit of the transaction. Levin sends his resignation - I would advise you to offer the seat to George Hunter - he ought to have been placed in the Council long ago. Oct.7. I have just seen Henley in re Telegraph -the old story - this man has entirely upset everything so that there would be no chance of raising the capital without a guarantee of 6 p.c. - shares of telegraph companies have fallen frightfully - some on which 6 p. c. has been paid are being given away with a bonus of £1 - still matters may mend - but for the present they decline to adhere to the proposal. They will send out another offer by next Mail Q They see no objection to Vogel's stipulations - One of the boys has also been in with a draft proposal for preliminary surveys - I hope to have it before the Mail closes. Yours faithfully I. E.Featherston
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Permanent link to this item

https://paperspast.natlib.govt.nz/manuscripts/MCLEAN-1022847.2.1

Bibliographic details

6 pages written 6 Oct 1870 by Dr Isaac Earl Featherston to Sir William Fox, Inward letters - I E Featherston

Additional information
Key Value
Document date 6 October 1870
Document MCLEAN-1022847
Document title 6 pages written 6 Oct 1870 by Dr Isaac Earl Featherston to Sir William Fox
Document type MANUSCRIPT
Attribution ATL
Author 40107/Featherston, Isaac Earl (Dr), 1813-1876
Collection McLean Papers
Date 1870-10-06
Decade 1870s
Destination Unknown
Englishorigin ATL
Entityid 38
Format Full Text
Generictitle 6 pages written 6 Oct 1870 by Dr Isaac Earl Featherston to Sir William Fox
Iwihapu Unknown
Language English
Name 16423/Fox, William (Sir), 1812?-1893
Origin Unknown
Place Unknown
Recipient 16423/Fox, William (Sir), 1812?-1893
Section Manuscripts
Series Series 1 Inward letters (English)
Sortorder 0609-0160
Subarea Manuscripts and Archives Collection
Tapuhigroupref MS-Group-1551
Tapuhiitemcount 62
Tapuhiitemcount 2 14501
Tapuhiitemcount 3 30238
Tapuhiitemdescription 62 letters written from Auckland, Wellington, Napier and London, 1859-1876.Includes several draft letters from McLean to Featherston
Tapuhiitemgenre 3 230058/Personal records Reports
Tapuhiitemname 40107/Featherston, Isaac Earl (Dr), 1813-1876
Tapuhiitemname 3 4809/McLean, Donald (Sir), 1820-1877
Tapuhiitemref MS-Papers-0032-0266
Tapuhiitemref 2 Series 1 Inward letters (English)
Tapuhiitemref 3 MS-Group-1551
Tapuhiitemsubjects 3 1446/New Zealand Wars, 1860-1872
Tapuhiitemtitle Inward letters - I E Featherston
Tapuhiitemtitle 2 Series 1 Inward letters (English)
Tapuhiitemtitle 3 McLean Papers
Tapuhireelref MS-COPY-MICRO-0535-051
Teipb 1
Teiref ms-1344-218
Year 1870

6 pages written 6 Oct 1870 by Dr Isaac Earl Featherston to Sir William Fox Inward letters - I E Featherston

6 pages written 6 Oct 1870 by Dr Isaac Earl Featherston to Sir William Fox Inward letters - I E Featherston

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