Mr. Gillies speech at the Mechanics Institute fully reveals the two objects of his animosity the Loan Policy, and the Native Administration. He very properly acknowledges that the policy of the Government with regard to the loan, to immigration, and to public works is now laid -- and that a vote of the House has effectually quenched even his powers of opposition. Hence it might be reasonably supposed that a mind of such capacity as that of Mr. Gillies could be brought to understand that there is a chance that a series of measures recognized by a majority of as prolific of good to the country, may possibly prove a benefit. Not so however, the contrary is the case; and Mr.Gillies rises more defiant than ever, talks about what he would do were the adopted policy yet before the House, rises more defiant than ever, spurns the idea of success attending Measures disapproved of by him, and rushes snarling into the Arena. He states it will be the duty of representatives to watch over the Expenditure of the loan: of course it will; this is a palpable truism; but we regret to say that to this ''one pennyworth of bread'' there is ''an intolerable quantity of soup'' in the shape of fustian and cucumber after a magnamimous confession of the honesty of all New Zealand politicians he goes on to state his fears that, owing to the weakness of human nature, sons and friends and relations of