THE Evening Star. PUBLISHED DAILY AT FOUR O'CLOCK P.M. Resurrexi. MONDAY, JULY 26, 1875.

Thames Star, Volume VII, Issue 2046, 26 July 1875, Page 2

THE Evening Star. PUBLISHED DAILY AT FOUR O'CLOCK P.M. Resurrexi. MONDAY, JULY 26, 1875.

Oujt "Wellington correspondent repeats the rumour which has been reiterated so often of late, that Mr Stafford is likely to assume the. leadership of the Government at the end of the session. It will be remembered that this has beea said before, and denied. The rumour seems to gain strength at the' present timo from* the friendly attitude Mr Stafford has assumed towards the Government; but when we . consider the remarks of the Minister of Justice, Mr C. C. Boweri, during the " progress of the debate on the Address in Keply, we can scarcely believe that any .understanding has been arrived at of the ..'nature indicated by our correspondent, ■and asserted with so much.confidence by other correspondents, and even writers in the Southern press. With reference to Mr Stafford's statement that, on any fundamental question on which the Goyerainent would stand or fall they frould

have his loyal and cordial support, Mr Bowen said it was as great, a surprise to the Ministry as to the House. We are bound to believe, therefore, that no understanding had been come to regarding a coalition Ministry. The Evening Post stated that such was the case—certainly before Mr Bo wen's statement was made —and that Major Atkinson and Mr Bowen wore induced to join the Ministry at the suggestion of Mr Stafford—the one being an old colleague of Mr Stafford's and the other a personal friend. 'Jhat there is a possibility, or even probability of Mr Stafford's joining the Government, cannot be denied"; but that any definite arrangement had been come to aji stated by several writers and correspondents, we should feel disposed to discredit. Mv Stafford-has given an earnest of his active support and sympathy,, and hs. may yet. go further and accept office as a means of furthering his own political views.

A long- correspondence hns been laid before Parliament explaining the way in which the four million loan was negociated, and the. relations which have existed between Sir Julius Vogel and the Crown agents. The latter seem to have set themselves in direct antagonism to the ex-Premier, disapproving of the course adopted by the latter in placing the loan in the hands of Messrs Rothschild. The correspondence published is in some respects personal in character —indeed acrimonious ; but Sir Jwlius would appear to have the best of the argument. It is difficult to disabuse one's mind "of the impression that Messrs Julyan and Sargeant, in their opposition to Sir Julius Vogel's way of negociating the loan, were actuated more by self interest than by a desire to benefit the Colony. Aa the loan was arranged for without the assistance of these gentlemen they -lost their -quarter per cent, premium oh the transaction, besides other little pickings to be gathered from a big loan of four millions. There are numerous little incidents referred to in the correspondence which conduce to this opinion regarding the Crown Agents, and which also suggest that Dr Featherstone has been little more, than a tool in their hands as far as matters affecting the credit of tho Colony are concerned. One important letter to the Government/ purporting to come from Messrs Julyan, Sargeant and Featherstone, was found to have had the latter's name appended to it without even his knowledge ; notwithstanding he admitted that much, he had taken no means to express dissent with the terms of the letter, although it criticised the action of the then Premier, Colonial Treasurer and accredited agent of the Government. There seem to be no grounds for the opposition of the gentlemen who have hitherto manipulated the New Zealand loans to Mr Vogel's course of proceeding but a petty jealousy. If they had had the disposal. of the four million loan they would have placed it in the market gradually. " But it seems more than probable that if such a course had been pursued the Colony's securities would have depreciated materially, and it is doubtful if in the' end -a better price would have been secured than that which was obtained for the full amourit; while there will be no delay in obtaining the money, as three millions were sold at once, and the Messrs Kothschild guarantee . the remainder within- twelve months. It would appear that taking into consideration all things tho loan has been not so badly placed. What with the discount on* the sale, commission paid to Messrs Eothschild and other charges, and the term over which repayment is extended, the cost of the loan will be a little over five per cent, per annum.

The subscribers to the Thames Mechanics' "Institute are invited to attend this" evening to hear the annual report and elect officers, <&c. "We believe that although as compared with the kindred Institute at Auckland, which is almost in a state of collapse, the Thames Committee will be able to show favourably there are certainly some things which might with advantage be attended to, and which we hope the meeting will not fail to urge upon the incoming officers. As regards the papers, notwithstanding the many papers both local and foreign of which the read: ing room can boast, there is not one whereby any just notion can he. formed of how affairs are at home/'otf which mates mention of events of interest ofalmost daily occurrence. Consider what London papers are taken.in. Putting aside those such as Punch; which is taken for its fun, and the " Illustrated " in which the interest is' almost entirely. centred in its pictures, and such papers as the Engineer, and others of that type, which speak only of what may be called class matters, we have only the -Saturday Review (or Reviler), more ] a collection of essays on general affairs ; Public Opinion, which professes to yive the curtailed opinions of all the leading papers, but frequently gives the germ of none ; and a sensation paper of police reports and pseudo recitals of horrors, real or imaginary, entitled Lloyd's Weekly News. These are the materials, yrith slight additions, from which .to. obtain true accounts of matters of interest at home, and we sincerely hope that the committee in this respect will make so.me change for the better. The Mail, an epitome of the Times, published thrice a week, might be supplied for about three shillings and 6d a month, .postage paid; or the Standard, or Hour, or some other good daily paper at about the same price. The Field also would be a really valuable addition to the readers of the Institute, and this might bo obtained at a cost of two shillings and sixpence a mouth or thereabouts. Its columns are full of interest, not only

to the reader of sporting tenden j cies, but it affords also much valuable information on agriculture and outdoor subjects generally. If the funds at the disposal of the Committee, are not suffi- \ cient to enable, them to undertake the / additional expense, some of the present papers and magazines might be given up. iWe should-certainly suggest tie suppression of Lloyd's as the first step, and from what we can see, the Athenaeum is not much read ; the two together would suffice to pay for, at any rate," one daily paper, and the readers could well afford to give up one or more magazines to enable the Field to be supplied; the Quarterly and Westminster are both taken in, and' one (we should suggest the latter) might easily be dispensed with. The sum saved, .. and the least stupid of the shilling magazines also being given up, would give more thau the amount required, and a want much felt be remedied, with scarcely anyone being annoyed. Another thing we would draw attention to is the fact that old papers are allowed to accumulate in such masses as to be a great nuisance—we mean the Auckland papers. These from their number are practically useless, should anyone: wish to refer to them 'beyond the" last month's issue t and-would, if referred to, prove a source of immense trouble to the librarian. Would it not be much better if they were disposed of as waste . paper? .