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into between its agent, Mr. Fox, and the land purchasers of Taranaki, in which it was provided that the Company should, after satisfying the existing claims of purchasers, grant as compensation certain quantities of land to be selected out of the whole of such lands as the Company (hen held in the Settlement of New Plymouth, or in any lands which might hereafter be purchased in connection therewith. The land at that time in the possession of the Company was an unbroken forest, in which very few settlers were willing to select. I procured, before leaving Taranaki, from the Crown Commissioner there, an approximate statement of the assets and liabilities of the Company in respect of land in New Plymouth in October, 1850, a few months after (he surrender of its charter, which I submit. By this statement it will be seen that, excluding lands in the town, the Company possessed only 15,000 acres to satisfy claims amounting lo more than 17,000 ; but the question is not one of mere quantity. The claimants were not bound and would not consentto receive in eriorland in satisfaction of their claims. ] believe lam correct in stating that the whole of the 15,000 acres was forest, and absolutely unsaleable in the market at (hat time, for even with (he very great demand which has recently arisen, (he whole has no( been sold, under Governor Grey's Regulations, at 10s. per acre. In my opinion, (he claims exceeded by 20,000 i. the value of the lands transferred by the Company to the Government. When I left Taranaki in May last, there were outstanding claims for 10,000 acres. The last block of land purchased from the Natives, and which is not yet ready for selection, cost 7s. per acre including fully one half of forest not saleable at 10s. per acre. The last portions, and such as the claimants wilt alone select, are worth, at this time, from 31, to 51, per acre. New Plymouth has derived no benefit from the New Zealand Company since the suspension of its operations in 1844 : on the contrary, that body bas impeded the progress of the seltlers, prevented them from obtaining the assistance of (he Government, and left the Colony burthened with onerous land claims which it may lake years to extinguish. The Company has not yet expended the whole amount due to New Plymouth for emigration : for in the Company's Annual Report of sth April, 1841, a sum of 1195 L 13s. 9d. appears to have been unexpended. In the subsequent Report—although I believe no expenditure had taken place between those periods, the amount is not brought forward. Having access only to the reports of the Company, I cannot, of course, state why the credit has disappeared. 1 believe that it is still dae to New Plymouth. What do you mean by the hostility of the Government to the Company ? The Committee were here interrupted by the meeting of the House, and obliged to stop proceedings, the last question put to witness being unanswered.

SATURDAY, 22ND July, 1854. Cammittte mel at 12 o'clock. Present—? Mr. Hart, in the Chair. Messrs. Macandrew Messrs. Sexvell Forsaith O'Neill Dr. Monro. Mr. E, G. Wakefield was present to give evidence. Mr. WAKEFIELD examined. By the Chairman:—Have you read through your former evidence, and do you find it correct ? I wish to add to the statement as to my illness in the summer of 1846. I first became seriously ill in the autumn of 1844, and was thenceforth incapable of giving any regular attention to the affairs of the Company, though 1 did manage to attend to such part of them as may be called the political part, more especially as regards their dispute with the Colonial Office. Referring to a portion of your former examination, might not circumstances occurring in the Colony, irrespective of the action of the Government, have ruined (he Company ?