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Wellington Independent, Volume XXVI, Issue 3103, 20 January 1871, Page 2

The Hon. Mr Richmond, in his recent speech to the electors of Wellington, made an assertion to the effect that Dr. Featherston had told him that the article in the " Economist" represented the opinions of the Stock Exchange on the financial scheme of the Government. If he meant to convey to the electors of Wellington the impression that the " Economist," according to Dr. Featherston's admission, represented the feeling that prevailed in the money market on the financial policy of the Government, as passed by the Assembly, then we are enabled on the best authority to give his statement a flat contradiction. What Dr. Featherston said was that the City was alarmed by ihe financial scheme, at first proposed by Mr Yogel, being under the impression that a loan of ten millions was to be raised at once, in addition to the loan guaranteed by the home Government. With regard to the modified scheme, in other words, with regard to tho financial policy approved of and passed into law by the General Assembly the utmost confidence prevailed, and the money could easily be had and on favorable terms, Dr. Fe^therston, before he left England, advised his colleagues to this effect in a letter quoted in Otago by the hon Mr Yogel, and since his return he has repeated the same assurance. Dr. Featherston " has not two tongues in his head :" but Mr Richmond seems to have four ears. Dr. Featherston did not, and could not, say that so far as the financial policy now before the country is concerned " the article in the " Economist" represented the opinion of the Stock Exchange." We leave the electors of Wellington to draw- their own inference. To misrepresent Dr. Featherston as an electioneering dodge is the ugly aspect the question at present wears, but we suspend further remarks until we hear Mr Richmond's explanation. This much we will say, however, that if he did not mean in this sentence the Financial Scheme he discusses throughout the rest of his speech, and if he found that his words had not been sufficiently clear, and had made a false impression, he should, as an honorable man, have explained them without being publicly asked to do so.