THE NEW ZEALAND LOAN.
The success of the Hon. Mr Yogel in America and England seems a bitter pill to swallow, and several Opposition journals are exceedingly amusing from the wry faces they make in getting it over. Thus the " WanSanui Chronicle" remarks : — "Among the items of interesting news by the San Francisco mail, is the announcement of the first instalment of the four million loan. So little time has elapsed since Mr Yogel reached England, that the news seems almost too good or too wonderful to be true. There is abundance of money in England, but its holders would hardly be disposed to throw it at our Colonial Treasurer. But more will be known by and bye. 1 '
And the "Evening Post" make the following miserable moan over thenausciouß dose : — The feeling in favor of steam cemmunication with California, which has been several times mentioned as having set in in Victoria, is evidently strengthening, although it is not in favor of a line by way of New Zealand. Mr Parkes, of Sydney, has been in Mcl bourne, urging upon the Chamber of Commerce in that city to support Hall's line, and seems to have met with considerable success. The " Argus" supports the scheme, and advises the "Victorian Government to grant the subsidy asked for — £10,000 — for which sum a fortnightly mail, alternating with that by Suez, can be guaranteed. Of course the line supported by Sydney and Melbourne must eventually be the line — New Zealand, single-handed, can never compete against those colonies.; and the result at which we are gradually arriving is a branch service by way of Fiji or Sydney. This is the solid result of all Mr Vogel's flash and glitter, and possibly when his financial proceedings are as closely examined they may be found to be of an equally unsubstantial character. The subsidies expected to accrue to Hall's line are, Victoria, £10,000 ; Queensland (already voted), £10,000; Honolulu, £5,000 (promised) ; New South Wales, £25,000 ; South Australia, £3,000 ; Tasmania, £2,000 ; and England, £5,000. The first boat was to leave Sydney on the 4th inst.
THE NEW ZEALAND LOAN.
Wellington Independent, Volume XXVI, Issue 3197, 12 May 1871, Page 3
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