B.—No. 2.

4

FURTHER PAPERS RELATIVE TO

No. 5. The Crown Agents to the Hon. the Colonial Secretary. Offices of the Crown Agents for the Colonies, Sie,— Spring Gardens, London, S.W., 26th October, 1864. In continuation of the letters addressed to you from this office by the mails of August and September, I now enclose a statement of your account with the Crown Agents for the Colonies, up to the 30th ultimo, on which date a balance of £1532 9s. 7d. remained in their hands. To that statement is annexed a revised estimate of assets and liabilities to the 15th of January, 1865, when the first dividend on the loan will fall due. The Crown Agents will not fail, as soon as the further instalments of the loan shall come into their possession, to hand over all they possibly can to the Bank ; but so long as the present state of the money market continues it will be hopeless to expect that a second issue of debentures would find purchasers, or that a temporary advance could be obtained upon them, if created, except at a most extravagant rate of interest. None of those sold to the " Credit Mobilier" have yet been placed on the market, and although symptoms of returning confidence are said to be visible, yet the Bank rate continues at 9 per cent.-, and the probability of such a decline in the value of money as would render New Zealand debentures marketable, is still very remote. Under these circumstances, the Crown Agents can only repeat the advice offered in their former letters, by recommending you to abstain, as long as possible, from attempting to negotiate any further portion of the unguaranteed loan. I have, &c, The Hon. the Colonial Secretary, &c, &c, New Zealand. P. G-. Julyan. Enclosure 1 to No. 5. The Crown Agents for the Colonies in Account Current with The New Zealand Government, Dr. from the 13th July to 30th September, 1864. Cr. £ 8. d. By payments to New Zealand Bank, viz. :— £ s. d. To proceeds of the sale of Debenture Bonds 441,292 0 0 July 27th . .£15,000 0 0 To amount received from purchasers of De- August 9th . 8,000 0 0 benture Bonds for accrued interest September 2nd . 100,000 0 0 to date of purchase . . 3,868 2 10 „ 15th . 300,000 0 0 423,000 0 0 „ „ to Messrs. Grnhame and Morrison 5,220 0 0 „ „ to Victorian Government . . 3,592 1 8 „ ,, Messrs. Calisher and Terry, Mr. Morrison, for Arms '. . 7,000 0 0 ,, „ Miscellaneous . . , 4,815 11 7 443,627 13 3 „ Balance .... 1,532 9 7 £445,160 2 10 £445,160 2 l 0 Statement showing the Estimated Assets and Liabilities of the New Zealand Government, from the 1st October, 1864, to the 1st January, 1865. Assets. £ s. d. Liabilities. £ B . d. To Balance brought down. . . 1,532 9 7 By amount payable to Calisher and Terry To Amount payable by "Credit Mobilier" Mr. Morrison, for Arms, vide Mr. on the 20th November, for £253,800 "Woods' letter 24th July, 1864— Debentures @ £80 . . 203,040 0 0 October instalment . £7,000 0 0 To amount for 127 dins accrued interest November „ . 7,000 0 0 thereon .... 4,415 0 0 December „ . 7,000 0 0 21,000 0 0 „ „ to Messrs. Grahame and Morrison on the 20th November, vide Mr. Woods' letter 21st July, 1864 . 3,780 0 0 „ „ Bank of New Zealand, on 20th November, vide Mr. Wood's letter 21st July, 1864 . . . "145,000 0 0 „ ,, to be expended by the Crown Agents in the purchase of Amis . 10,000 0 0 ,. „ „ purchase of Telegraph Materials, vide Mr. Wood's letter 23rd July, 1864 . . . 3 ; 5OO 0 0 „ Interest at i\ cent, on £800,000 Debentures, due 15th January, 1865 20,000 0 0 „ Commission and Brokerage . . 1,16® 0 0 204,440 0 0 ii Balance .... 4,547 9 7 £208> Q87 9 7 _£208,987 9 7 * This payment will be increased as much as the available funds in hand will permit. Penrose G. Julyan, London, 26th October, 1864. Crown Agent for the Colonies _