New Zealand Company.

New Zealand Herald and Auckland Gazette, Volume I, Issue 18, 20 October 1841, Page 2

New Zealand Company.

In our columns to-day is an extract from the Directors' Third Report, and a statement from the New Zealand Journal, relative to the proposed communication between Port Nicholson and England, by way of Panama. Some of our reader* will have seen the report and statement in that journal, or in the Wellington Spectator, but they must remember that a large number of our subscribers have not those sources of information, —• and here we may as well observe, that much of what must always of necessity appear in our

paper will be not new to those who obtain regularly English and Australian Journals, or another New Zealand paper. —The Report is a document of high importance, not only to the residents in the Company's settlements, but to the settler in every part of New Zealand; and we regret that want of space will not permit U 3 to print it at length. In the 18th clause we find it stated, that the quantity of land to which the Company will be entitled by the agreement with her Majesty's Government, and the award of the arbitrator under that contract, amounts to at least 997,036 acres; for which no further payment to the Crown will be required :—that of thatamount, 187,790 have been allotted to purchasers, and there now appertain- to the Company 809,246 acres. Our Port Nicholson contemporary remarks on this, that, after putting the persons in possession of the land sold to this period by the Company, they will have a surplus of 800,000 acres, which, if well managed, will yield no less than £BOO,OOO :—that supposing them to have realized £BOO,OOO, and out of that amount to have expended fifteen shillings per acre upon emigration, they will be entitled to a grant at the rate of five shillings per acre, to that extent, or to 2,400,000 acres; and that, though this might be said to be an extreme suggestion, it shows the enormous field open to the Company. Hereunder is the 10th clause of the Report, which exhibits what is termed a novelty in the scheme'of the Nelson settlement. We take this opportunity of saying that we have been told that some of our subscibers think we have not allotted a fair portion of space to Port Nicholson news. We cannot but observe that, we conceive, a reference to our columns would prove this an unreasonable complaint. Many of our friends particularly desire that we should give them New South Wales intelligence ; and others wish for a great deal of English news; while another section of'our readers would appear to think that our time and space should be given to the production and insertion of articles, less with a view to the amusement of the general reader,, and the promotion of the improvement of the whole Colony, than the advancement of what they deem the immediate interests of the people of Auckland.— Quol homines, tot sententice. The principalnovelty in the scheme of the second Colony is, the devotion of £50,000 of the purchase money of the land, together with the surplus of another fund of equal amount, (primarily appropriated to cover "the expenses "irrecoverably incurred by the Company in selecting the "site,, and otherwise promoting the safe and orderly estab* " lishment of the Colony,") to the following beneficial purpose*.: —namely, £15,000 towards religious endowment* ; £15,000 towards the foundation of a college in the new settlement, and £20,000 for giving encouragement to steam navigation in the settlement, by the offer of bounty. On the importance of the first object your Director? need not enlarge The value of the second will be appreciated by all who are cognraant ot the disadvantages in respect of education under which the settlers in new colonies have commonly laboured, and which nothing short of such a combined effort as is now contemplated would suffice to remove. New Zealand will be peculiarly benefitted by steam navigation, not only on account of its division into two islands, but because the principal towns will certainly be established on the se»-coast, and because many years must elapse before adequate roads can be opened, even between those settlements the residents at which will not always find inter-communication by water most easy and expeditious.