The Star. MONDAY, DECEMBER 11, 1876.

Star (Christchurch), Issue 2715, 11 December 1876, Page 2

The Star. MONDAY, DECEMBER 11, 1876.

It is stated that, in addition to the ordinary duties of his office the AgentGeneral has undertaken the task of floating tho Wanganui Corporation Debentures. During the coming years the number of small loans, for municipalities, Harbour Boards and other local bodies in this colony, which will be launched on the Loudon market will in all probability be legion. Is the Agent- General to be at liberty to undertake the negociation of these 1 loans whenever he sees fit, or will he be called upon to do so as part of the duties of his position ? We do not suppose that Sir Julius Yogel will bo backward ia obliging, so far as his

power goes, any local body which wants j to raise the wind, but the expediency of the arrangement may perhaps be questioned. It is not so long since Sir Julius was himself pleading, though probably not very sincerely, in extenuation of Dr Featheraton's short-comings, the extremely onerous nature of the duties which he had to perform. His view then clearly was, that the AgentGeneral's duties to the Oolonial Government were sufficient to demand his whole time and energy. Nothing has since happened which will materially diminish the woik to be done for at , least a year to come, and it seems therefore impossible that Sir Julius should become loan agent for the various local bodies of the Oolony without neglecting more or less his own proper work. Another point/ requiring consideration, in the same connection, is the question of com- J mission. Is the Agent- General to be allowed to receive a per-centoge upon any local loans he may float? If not, it is clear that he should be officially informed of the fact beforehand, aa it would be manifestly unjust to defer placing a veto upon him in this respect until he makes a oharge. Other Government officers have been allowed to supplement their incomes by drafting Bills, giving professional advice, and by varioua methods, so that Sir Julius might reasonably infer that there would be no impropriety in bis adopting a similar course. We are far from urging that any such impropriety would exist, but it is certain that a very clear understanding on the matter should be arrived at beforehand. Without throwing any* doubt upon the Agent- General's affection for the Oolony, we may reasonably entertain a doubt whether it is of that self-forget-ful kind whicli would urge him to do or give something for nothing in return. On the contrary, we believe it to be almost certain that to forbid him to make some little picking from these loans, would be tantamount to throwing their negotiation into other hands. This also may or may not prove ultimately judicious, though at present Sir Julius would probably be able to place the debentures of minor bodies to greater advantage than other agenta would. The only real objection then to the Agent- General becoming Loan Agent for Boroughs, md other local bodies, is that it might involve neglect of his . Oolonial duties. When Government Immigration, the importation of railway plant, and Oolonial borrowing cease, this objection will necessarily lose all weight. At present, however, it would appear to be of sufficient importance to require the serious consideration of the subject by the Ministry, and it is clearly better that such consideration should be given before the birth of what might become a serious evil or inconvenience, rather than later, or when it has attained full development, and precedent can be adduced for its continuance.