B.—ll

10

revoked, and every question affecting terms, &c, will be open for settlement whenever, with a view to further inscription, the Government propose to appoint other Agents. I have, &c, The Agent-General for New Zealand, London. John Hall.

No. 13. The Premier to Sir P. G. Julyan, &c. Gentlemen, — Government Offices, Wellington, 18th June, 1881. I have the honor to acknowledge the receipt of your letter of the 21st April, enclosing statements (1) of all the debentures withdrawn, unregistered, and cancelled; and (2) of the sums received and expended by you between the 20th April, 1880, and 31st March, 1881, in discharge of expenses incidental to inscription of stock. 2. You had previously informed me of the extent to which the Five Million Loan had been converted into Inscribed Stock, up to the. close of the operation on the day limited, namely, 16th March. I have now learned that you have officially addressed the Bank of England, stating that your functions as Agents under the Stock Act of 1877, so far as regarded the Five Million Loan, had ceased. 3. The unreserved delegation to you, as Agents, of the powers which by the Act of 1877 are vested in the Governor in Council, was, no doubt, rendered necessary by the circumstances in which the Five Million Loan had to be negotiated. 4. But the Government have already informed you that, in their opinion, further inscription is unadvisable at the present time. This decision, taken with the completion of the colony's engagements in respect of the Five Million Loan Act, makes the time a fitting one for reconsidering the whole question of the powers to be given to Agents for future operations. 5. The Government have, therefore, decided that it was desirable the existing appointments and exceptional powers should be revoked; and Orders in Council revoking them have been signed by His Excellency the Governor. 6. Copies of the Orders, properly certified, are enclosed. 7. I desire, on behalf of the New Zealand Government, very sincerely to thank you for your successful exertions respecting the Five Million Loan; and to repeat our conviction that, in your use of your large powers under the Consolidated Stock Act, you were influenced only by the desire of doing the best that was possible for the colony, whose interests were, at a very critical time, committed to your hands. I have, &c, Sir P. G. Julyan, K.C.M.G. John Hall. Sir Julius Vogel, K.C.M.G. W. C. Sargeaunt, Esq., C.M.G.

See Enclosures to No. 14.

No. 14. The Premier to the Agent-General. Sir, — Government Offices, Wellington, 18th June, 1881. The gentlemen who have acted as Agents under the New Zealand Consolidated Stock Act are being informed by letter, of which a copy is enclosed for your information, that his Excellency the Governor in Council has been pleased to revoke the delegations of his powers, and to cancel the warrant appointing them as such Agents. A copy of each of the Orders, as duly certified by Mr. Forster Goring, Clerk to the Executive Council, is enclosed; and I have to request that you will, without delay, in such manner as you may be advised is necessary for giving legal effect thereto, inform the Chairman of the Bank of England of the action taken by his Excellency. I have, &c, The Agent-General for New Zealand, London. John Hall.

Enclosure 1. {Revoking the Appointment of Agents under the New Zealand Consolidated Stock Act.) A. Gordon, Governor. ORDER IN COUNCIL. At tlie Government House, at Wellington, this seventeenth day of June, 1881. Present: His Excellency the Governor in Council. Whereas, by an Order in Council bearing date the thirty-first day of January, one thousand eight hundred and eighty, made and issued under the provisions of " The New Zealand Consolidated Stock Act, 1877," Sir Penrose Goodchild Julyan, Sir Julius Vogel, and William Chai-les Sargeaunt, therein described, were appointed to be Agents in England for the purposes of the said Act, as, and in the manner in the said Order in Council particularly mentioned: And whereas it is expedient that the said appointments should be revoked;