EARL GREY AND THE NEW ZEALAND COMPANY'S DEBT.

Taranaki Herald, Volume II, Issue 96, 31 May 1854, Page 4

EARL GREY AND THE NEW ZEALAND COMPANY'S DEBT.

The following letter, bearing on a subject of vital importance. 'to Hib colony of New Zealand, and which will, m nil probability, engage the attention of the General Assembly at fin early date, will bo read wiili inlorcati To the Editor of the. " Australian and New Zen* ]nnd Gazette," 41, Gloucester Terraco, Hyde Park, Nov. 9, 1853! Sißi— Not having received any reply ro the following letter, I think my shortest nay to present injurious misconceptions arising will bo to beg the

favour of your making it public. I am, your obedient servant, John W. Cowbm,,

41, Gloccster Terrace, Hyde Park, Nov. 1, 1853. Sin,— ln your lotter, written at Lord Grcy'a solicitntion for publication m the second edition of his " Colonial Policy," 'you thus nddreßS him :— " In reply to your lordship's letter of the 27th nit. m reference to tlio alleged misappropriation of public money by the New Zealand Company, it pro. bablv will bo sufficient for mo to state that, during the period I held the appointment of Government Commissioner— namely, from February, 1849, lo sth July, 1850, when tho Company suspended their operations— l sanctioned all payments of money by tho Company out of the funds placed at its disposal by Parliament ; and thai, (luring that time, I am aware of no misappropriation of public monoy by the Company, and reported nono such to your lordship : and that, consequently, your interference to enforce its duo application was not m any instance required. I may add", you continue, " that no payment could be made by the Company without the knowledge and concurrence of the cotnmiosioner, and that accounts of nil these receipts nnd payments, from sth April, 1817, to July, 1850, have been periodically audited hy my predecessor and by myself." This rcforenco to the only audit I performed dur. ing my commiosioncrship is mado m a way that leads naturally to tho supposition that I found no. thing wrong m the Compnny's pecuniary transaction!) on that occasion. Now, on that occasion (ns I officially apprised you upon your succeeding me) I struck out of tho accounts which tho directors submitted to mo ii'9,ooo and upwards, to which they had permitted membors of their own body to help themselves for tho purpose of paying instalments on mid speculating m the Company's shares. Hones I must except against your expression relative to mo, which, though indifferent m itself, is so placed and connected with what you testify yourself that it irrisistibly suggests the iden of my being a witneßS to.tlie Coropnnv's probity, and implirateo me, moreover, m tho nid you arc affording Lord Grey m his attempt (I will use his lordship's own words) to "show that I did not, while holding the | seals of the Colonial Department, abuse the trust reposed m mo by conniving at frauds on the part of the Company."

As. however, the evidenco which— you know— I laid before Lord Grey m 1848, touching tho frauds ho refers to, wns, upon ito seeing the light at b9t m 1852, hold by most persons to prove them completely ; nnd as, by that discharge of my duty to the public, 1 placed tho Secretary of State m a condition to form his, and to recover from the Company /'23C000 for the public exchequer of New Zealand, and nbout ;£300 ,000 for the Nelson settlers, I cannot now permit any misconception to arise regarding my opinions either of tbo Company or of Earl Groy ; nnd as they are diametrically opposite to those which your letter suggests as being your own, I feel entitled to call upon you to take public means for preventing that misconception as to mine which your manner of coupling mo with yourself is calculated to produce.

I remain, sir, your obedient servant, John W. Cottku.. To C. A. Cox, &c:, Esq., Colonial OTic'o.