The Star. TUESDAY, JUNE 23, 1868.

Star (Christchurch), Issue 34, 23 June 1868, Page 2

The Star. TUESDAY, JUNE 23, 1868.

TjO'3 nowfl by tho lUngiiflli mail in on tho' whole docidodly favourable) to tho infcorontf) of Now Zoalnnd. Wo loam that tho Colonial Trcaßuroi 1 , Mn Ktn* J>ei'boi'l;, now in London, wa« About, immediately to launch the Hchomo for tho conanlidation and oxchango of tho Colonial and Provincial loann. Owing to tlio favoumblo »|;a(;o of l;ho money jnarkot, and tho good ponition of JNovy iHoaland credit, orcry proiipoot oxistod that tho onoration would bo fiuecoßafully complofcoa upon favourable terms. It WftH thoughl; thai; tho now loan, to bo ojd'orod in oxchango for thoHO now afloat, would bo raiHod at flvo porcont. with a Hinlcing fund of ono per eont. If thin iiliould proves to ho tlio «uho, and tho holdni'H ol 1 provincial and other bonds como in and oxohango frooly, tho colony will gain not only by an Aofcuftl pi'OHont Having, but in all AitUfO tranoaul/ioiifi, an tho credit of tho colony will bo /irmly ontahliahod. It in worthy of noto that tho commoroial corronpondout of tho Melbourne Aw/m—no mean authority — writing from London nayn that " tlio crodil; of Now Zoaland now fltandß second only to that of Victoria," In addition to thin good nowa, wo havo tho rO'iißßuring iniiolligonco that ho lato imho in tho prico of wool ia xnaintainod, and that tho prospootn of that marlcob arc on tho wholo Hatinfivctory. A. hopo ia oxproHaod that tho May salofj will paan oil' utoadily, and witnoul; furfchoi 1 fall. Tho prico of wheat i'h alno maintained i!i England, and tho quotationa for AiiHfcralaaian grain aro equal to tho vory boot samplou of Kent growth. Thou thoro lm« boon a movement among tho London merchants to induco tho Imporial Post - office to onf;abli«h a fortnightly mail viA Suoz, find although this would not :. : affect

Now Zealand vory intfmatoly, it may bo considered as ono among ofchor signs of tho growing importance of fchoßC colonicß. ROn tho wholo, tho profipoots of tho colonies aro improving in England, ami id j.'Owa'«« now for tho pooplo out hero to juelify tho ftntwipatibiiß of thoir cousins in tho Old World by ft caroful übo of tho crodifc now placed at thoii* disposal.