AUCKLAND.

Wellington Independent, Volume XIX, Issue 2121, 29 October 1864, Page 3

AUCKLAND.

Oue files from this Province aro to the 25 th inst: IMPERIAL ACTION. The Southern Cross of the 25th instant, says : — We understand that the tenor of the despatches received bj the Governor by the last mail ia that the war uto be carried on vigorously to the complete subjugation of the rebels, and that on this condition the troops will not be withdrawn until that desirable object is achieved. Not having the confidence of his Excellency, we are of course not prepared to speak with any precision on the subject ; but we believe that what we have stated will be found to be correct. Fight and subdue the rebels, or accept the alternative of agreeing to the withdrawal of the troops, are lie terms said to be offered ; and we think the colonists' representatives will not, if his Excellency the Governor has, have any difficulty in deciding as to the course that should be adopted. That the effect of the despatches received by his Excellency is such, is confirmed by the faet, which we now state for the first time, that 600 of the military were, when the mail left London, under orders to join their respective regiments in New Zealand. These drafts are probably now on their way to this coleny, in addition to the detachments of Engineers and Sappers and Miners whose projected departure has been already notified; and coupled with the no less important faot that no instructions whatever have been received recalling the troops, it is proof positive, we should think, not only that they are not to be withdrawn until their mission has been worked out, but that it is the desire of the Imperial Government that the war shall be carried to a satisfactory conclusion,— the establishment of a permanent peace. THE THREE MILLION LOAN. The same journal of the 23rd says : — We are glad to announce that the Crown Agents have sold one million of the three million loan, at a price equivalent to six per cent, loan at par. The disastrous news of the Gate Pa repulse, coupled with the high price of money in the English market, rendered it necessarv to negotiate one million of the unguaranteed portion at a sacrifice ; but all things considered, there ia not so much. reason to complain. The enemies of the colony.who were so loud in their notes of triumph that the loan was a failure, must now lower their key a little. They may perceive that there will not be the financial embarassments which they predicted ; for not only is the Government in a position to meet all its liabilities, but it will have a balance of about £400,000 to the credit of the colony besides. The Ministry will be able to meet the Assembly in a good financial position, to the chagrin ofthe " croakers," who must feel very much disappointed. When the Assembly meets, and the Governor has been forced to give effect to the confiscation policy as sanctioned by the Imperial authorities, or to resign, the colony will be in a flourishing condition. The waste lands of the rebels must be used to defray the cost of the war, whatever the pro-Maori party, with the Governor at its head, may say to the contrary ; and the fund, which will be available from this source, added to the moiety of the loan already realised, will be ample to give effect to the policy sanctioned by the Assembly, and inaugurated by Sir George Grey. We look to the Assembly to be firm on this point. The Governor has endeavored to trample upon the Constitution, has even sought to ruinjthe Colony, that he might stand well with Exeter Hall ; out whatever view the Legislature may take of Ministers conduct, one thing is certain, the Governor will not find the General Assembly of New Zealand willing tools in his hands, or instruments of their own degradation.