• "(From Oar Special Correspondent J ri LONDON, March 12. 'A XEW ZEALAND - The liew Zealand Government was In ■the mony market this week, placing another batch of short bonds—£soo,ooo iworth carrying 3J per cent, interest and due in April, 1912. I understand that the whole amount was placed very readily, and that in addition a previous issue of short bends to the extent of ;£ 1,000,000 were renewed. The transaction was not a public loan, the bonds ■being negotiated privately, and the total amount required being left unstated. According to the "Ernes'" city intelligence, there "svas some adverse comment in financial circles on the system by which these private issues are placed on. the market without any definite information as to the amount involved or the purpose cf the borrowing. AS SETTLERS. ._ TOe scheme for settling pensioned ■army men of suitable age and character njjon the land in the oversea Dominions, ■which Mr. E. T. Scammell recently brought forward, has received the sanction and assistance of the British War Office. A sum of £40,000 is provided for in this year's Army Estimates for the commutation of the pensions of soldiers who may desire to realise sufficient capital to make a start in a new land. So man is to be allowed to commute the whole of his pension—he must Lave an income of at least one shilling a day, so that if fortune fails to smile on him in his new venture he can never become destitute. There is no reason, however, to expect that men of this class will fail, especially if they are •Bowed to benefit by some of the "safeguards" which Mr. Sca-mmell's scheme provides. He asks for cheap passages for them, for accommodation and as»istance on arrival, and for help in obtaining temporary employment in which they would gain the experience they ought to possess, before taking up land _on their own account. He also suggests vthat- the. oversea Governments should undertake to a certain extent; the guardianship of the men's capital, and put them in the way of investigating it to good advantage. Hγ. Scammell acknowledges that this work would mean a good deal of trouble for the oversea Governments, but he thinks they would pc amply compensated for it by obtaining a large number of first-class British who, given a fair start, would be certain to make excellent citizens, and who, as thoroughly trained soldiers, would be an element of great strength from the point of view, of national defence. THE ALL BED ROUTE. tii nens > managing director 0£ Alexander Stephens and Sons (Ltd.), a Glasgow shipbuilding firm, who recently went to Australia and New Zealand to Mitigate the possibilities of the "All tteo; route, nas returned from his misson. "Ih e Union Steam Ship Company," «c said in an interview, "is prepared w establish a faster service between (8.C.), New Zealand, and Australia if the various Governments will grease the subsidies. As the contract does not expire until July next, and as our firm built the new turbine Makura. aow on the Canadian-Australian run, my atacewas sought by Sir James Mille. ■lac Aew Zealand Government has already taken the initiative by offering a yearly grant of £100,000. After studying tne peculiarities conditional to a long v oyage such as that between thia port «d Australia, I think that eargo-carry-mg reqnu-ements should not be entirely sacrificed to speed. The present service * one of I3i knots, and I think this is too slow, and would favour something intermediate between this and a 20-knot eemce. In my opinion steamships pro--Kung an 18-knot service would meet easting needs. It must be remembered ■cnat the conditions existing on the with its long stretches between ?orts differs from those which obtain on the Atlantic. If a 20-knot service was inaugurated, it would restrict cargo *pace: and involve the carrying of large quantities of coal." I
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