THURSDAY, APRIL 24, 1879.

Press, Volume XXXI, Issue 4285, 24 April 1879, Page 2

THURSDAY, APRIL 24, 1879.

Thsbe has for some time been before the public a scheme for promoting the establishment of the New Zealand Agricultural Company. It has attracted considerable attention in England, and notwithstanding the opposition of the Times has to a certain extent been floated. According to the prospectus the object of the company is to effect the purchase, at a price somewhat exceeding a million of money, of considerable blocks of land situated principally in Southland. At the first blush it would seem that the object of the company is highly desirable. It may be said of Southland that it lies under the curse of large estates, and any bona-fide scheme which holds oat a reasonable promise of breaking up these estates and reducing them to proportions capable of effectual settlement deserves all the support which can be given to it. But -while this is so, it is not everybody who is at liberty to come forward as the promoter of such a scheme, and it is certainly not every body who is at liberty to do so, on the terms of receiving ft handsome remuneration for bis services. It is, however, matter of general notoriety that Sir Jnlius Yogel has allowed bis name to appear in the prospectuses as one of the promoters of the company, and it is generally understood that lie has done so for a consideration. The terms commonly stated are that he is to have a considerable sum in cash, and is ***»" to be appointed a director at a permanent salary. Sir Julius Vogel, of whom this is said, is Agent-General for the colony.

eren without recemng payment Sir Julias has gone decidedly ioofer. Wβ do not know that he woald he acting outside his official position so long .as he confined himself merely to expressing his opinion or eren giving his adrice. Aβ Agent-General it is. but natural that he should be referred to for information by persons whose private i views lead them to take interest in j matters connected with New Zealand. ! And these matters will certainly not be i confined to its public affairs as a colony. There willbenoecheme of any importance going of which, he may not be expected to have rery accurate knowledge, and there is no reason at all that we know of why he should not communicate that knowledge to any who may be interested in knowing. It needs only, according to our apprehension in the matter, that he should communicate it impartially and under conditions in which his impartiality may be considered as guaranteed. Bnt he violates the first of these conditions when he allows himself to become an official promoter of any particular company which may happen to be in question, and he Tiolatee both, when it is considered that besides being merely a promoter, he is particularly well paid for his services. Wβ must confess our surprise that this obvious view of the subject hae not been acted upon by Sir Julius Vogel. It is improper in every way. It is unfair towards other enterprises which may be equally deserving of his good word, but which cannot all have the benefit of his personal adhesion. It is unfair td those who act npon his advice, ignorant of the liberal commission which he receives for advising them to put their money into the speculation. It is unfair to the public interests of the colony, whose Agent sinks in weight immeasurably with the public men with whom he has to deal on its behalf as soon as they perceive that he is making it a mere resting point for the promotion of his private interests. It is no answer to say, as regards the colony, that it has benefitted materially by his services. We have always been ready to acknowledge the fact, and have no wish now to flinch from the admission. But Sir Julias has not thereby acquired the right to put aside the interests of the colony for the future, and to substitute his own. It is quite impossible that any public officer can do what Sir Julius has been doing without injury to the public service, and no amount of ■ argument or representation can make the fact otherwise.

Bat the matter does not end here. Nor is our complaint confined to the action taken in the matter by Sir Julias VogeL One of the persons who is understood to hare a considerable interest in the successful floating of the company is Mr. Larnach. Mr. Larnach has retired from public life, and there is no reason why he I should not occupy himself with the promotion- of this or any other company that he chooses. But it becomes another matter when Mr. Larnach is able to include among his agencies the resources of the Colonial Ministry. Wβ find Mr. Larnach taking up the cudgels in reply to adrerse criticisms of the London Times. In one of its articles on the subject, it had referred to the Southland rabbit nuisance, as affecting seriously the ralne of the binds proposed to be purchased by the company. Mr. Larnach comes forward as the advocate of the company, and clinches his defence with the following sentence:—" In conclu- " sion," he says, " permit mc to state that " the Colonial Treasurer ef New Zealand " has telegraphed to the Agent-General "as follows:—■' Turned first cod of " * Waimea Plains railway January 27th. " ' Line through magnificent country, " ' waiting settlement by proposed com- "' pany. Success must contribute ••'*■' prosperity colony . and remunerate "'proprietors.' ,. This is certainly an unusual kind of communication to pass respecting a private enterprise from the Colonial Treasurer to the Agent--1 General. Considering the position held towards that enterprise by the AgentGeneral, it might perhaps have looked more prudent in the Colonial Treasurer to abstain altogether from any communication respecting it. Bat it is said that Mr. Ballance is also interested, like Sir Julias Vogel, in the prosperity of the company. Hβ does not, we suppose, receive a consideration for his good opinion, nor is he likely to become a salaried director; but, according to the ! Auckland Herald, he is understood to be interested in the company. It is suggested that his references to the " magni- " ficent country," his speaking of it as " waiting settlement by the proposed " company," his delicate hint about its " remunerating the proprietors," and his graphic allusion to the turning of the " first sod, ,, all smack strongly of an incipient proprietorship in shares. No doubt there are three words in the telegram given. to the prosperity of the colony. For mere form's sake they could hardly be omitted. But it is out of the abundance of the heart that the mouth speaketh, and it can hardly be doubted that we have here a link In the chain of certain private arrangements carried on at the expense and nnder the auspices of the colony, by the Colonial Treasurer and the Agent-General.