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Lyttelton Times, Volume XX, Issue 1110, 1 July 1863, Page 4

We venture to draw special attention to the letters of our London Correspondents. The letter on New Zealand Affairs, especially, deals with matters of the deepest interest to the colony at large and to this province in particular. It is doubtless very gratifying to find that the reputation and credit of the colony stands so high in England, and we shall be nothing loth to welcome new capital and increased population to our shores.

But there has already been so large an accession to the banks in the colony that we are inclined to dread any extension in that line. The failure of one scheme that has been taken up in the London market would do us more mischief than any present eclat could compensate for. The abundance of money at present in London, and the restriction of the field for monetary operations consequent upon the American war and the disturbed state of Europe are likely to encourage speculators to look to the colonies. If the stream of capital is diverted a little into our channel we shall be thankful, but there are limits.

Our correspondent warns us that we must remember the original motive which induced the Provincial Council to vote money for immigration from Lancashire. We trust there will be no reason to remind our readers that they cannot expect to receive back immediate and palpable payment for a charitable grant. At the same time it must not be supposed that the expected immigrants will prove bad colonists. On the contrary we could point to many instances which prove that the intelligence of the northern manufacturers will in the long run beat the agricultural experience of more ignorant labourers. The Lancanshire immigrants will do very well both for themselves and the colony. We are bound to give them in every way a fair start.