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AUSTRALIAN TRUST COMPANY.
INCORPORATED BY ROYAL CHARTER.
Capital £1,000,000, in 10,000 shares of £100 each, with power to increase the capital to £2,000, 000.
James Evan Baillie, Esq. Henry Bainbridge, Esq. Hastings Elwin, Esq. Benjamin Greene, Esq. William Hart, Esq. Langford Lovell Hodge, Esq.
Robert How, Esq. Thomas Icely, Esq. John Innes, Esq. Francis Mowatt, Esq. Charles John Pearse, Esq. John Abel Smith, Esq., M. P.
Auditors Abel Lewis Gower, Esq., Sir Edward Parry, R. N., Nassau William Senior, Esq.
Bankers--Messrs. Smith, Payne, and Smiths.
Solicitors--Messrs. Freshfield and Sons.
The company has been formed to carry out in Australia a principle which has been acted on with great success in the United States of America--namely, that of taking up money in this country, at a moderate rate of interest, on the credit of a large invested capital, and laying it out on undoubted freehold security, at a higher rate.
In the United States of America, the interest on mortgages on land is 7 per cent.; by borrowing at or under 5 per cent., and lending at 7 per cent., one of the Trust Companies in the United
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States, established within these ten years, has been enabled to make very large returns to the shareholders; its prosperity has been steadily progressive, and its deposits, at the date of the last annual report, were more than quadruple the capital. To this prosperity British capital has largely contributed. The Australian Trust Company opens a more patriotic, safe, and profitable channel of investment.
Australia is a British possession; it is exempt from the risk of war, and the interest on the best mortgages is 10 per cent., being 3 per cent, higher than in the United States.
The operations of the company will, in the first instance, be principally, if not exclusively, in New South Wales, in which English law is established and ably and uprightly administered; there are register offices, by a reference to which, titles and incumbrances can be ascertained with peculiar facility, land having rarely changed hands in a colony so recently settled.
As New South Wales has ceased to be a penal settlement, a rapid amelioration in the character of the population may be anticipated; the stream of impurity being dried up, healthy and industrious emigrants from the mother country may be expected to flow into the colony. This, and many other desirable objects will, in all probability, soon be promoted by the establishment of steam communication between this country and Australia.
To exhibit the rapidity with which Australia is advancing in prosperity, it is only necessary to refer to the official tables of the Board of Trade, by which it appears that the staple production, wool, has increased from 512,758 lbs. in 1827, to 7,837,423 lbs. in 1838! This cheering increase, instead of being obtained at the sacrifice of quality, is actually accompanied by a marked improvement; indeed, the character of Australian wool ranks high in the English market.
So inadequate is the supply of wool from our own possessions, that the importation into this country from Germany alone, in the year 1838, was 27,506,282 lbs. In Australia, there is nearly an inexhaustible supply of land admirably calculated for rearing sheep; the returns are quicker than for almost any other outlay of capital, and the profits greatly exceed double the highest rate of interest.
Under these circumstances, it is conceived that there is a wide and lucrative field open for the operations of this company.
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In framing the charter, it has been the endeavour of the directors, in which they hope they have been successful, to consult alike the interest of the shareholders and of the lenders; whilst it protects the shareholders against responsibility for more than the amount of shares held by them respectively, it amply provides for the safety of those who lend money to the company. It contains the following provisions:--
That the sums borrowed shall not exceed four times the amount of capital paid up and invested in this country.
That the whole capital of the company, and all the mortgages on which their money is lent, in Australia, shall constitute a security to the lenders of money to the company.
That the mortgages are to be on land, with the power of taking collateral security on stock, &c.
That every mortgage be registered--the register to contain such particulars as the governor of the colony may deem necessary.
That a copy of the register of the mortgages shall be kept at the office of the company, in London, for the information of the shareholders and lenders.
That an annual report be made to the Lords of the Treasury of all sums borrowed by the company, and of the appropriation of them,
That when half a million of the capital has been paid up (which would authorize the borrowing of two millions) further calls shall require the sanction of the Lords of the Treasury; this salutary provision, by bringing under the notice of government the progress of the company, increases the security of the lenders, and affords a guarantee of prudent management, that government may not object to enlarge the operations of the company.
There is also a provision that if, at any time, it shall be made to appear to the Lords of the Treasury that one-half of the paid-up capital has been lost, it shall be competent to the Lords of the Treasury to dissolve the company.
Calls are not to exceed £10 per share each, and no call to be made at a distance of less than three months from the preceding call.
Applications for shares to be addressed to the Directors of the Australian Trust Company, at the temporary offices of the Company, No. 85, King William-street.
London, October, 1840.
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Conditions and Regulations of Messrs. Masson and Hoggins, Australian Emigration Agents, No. 5, Lime-street Square, London.
To the following class of persons, for whom a most urgent demand exists in the colonies, a free passage, if accompanied by their wives, will be granted:--Agricultural labourers of every class, shepherds, smiths, wheelwrights, carpenters, bricklayers, masons, of industrious and moral habits, and not exceeding 40, under the provisions of colonial bounty given for this purpose. The children of married persons, eligible for a free passage, will be taken on payment of £3 each.
Single men, from 18 to 30 years of age, of the above trades or callings, and of good health and character, will be allowed a passage, on approval, on payment of £5 each. In cases of single males accompanying a sister, or a single female, no relation, but under the care of married persons on board, they will be taken free.
Single females, accustomed to agricultural habits, and house servants, are much wanted, and to them a free passage will be granted, if they are not under 15 nor above 30 years of age; they must be of unexceptionable character, and go under the protection of a family on board. Married persons increase the facility of their getting free passages, by taking single females of good character under their care and protection. Every ship carries an experienced surgeon, and the utmost attention is paid to the comfort of all passengers during the voyage.
The general terms of passage, for all who are ineligible, or who may be desirous of paying their own passage, are as follows:--
- Steerage, for every married couple.... £40
- Do. for single males, adults.... 21
- Do. for single females ......... 20
- Do. for every child above four... 7
- And £l additional for every year beyond.
Half to be paid on engaging, remainder on embarking; deposit to be forfeited if the parties do not proceed. These terms include bed-
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ding, which will be put on board, and parties may provide their own sheets only; and sleeping apartments will be arranged with a strict regard to proper order and decorum.
Certificates of age, knowledge of pursuit, or calling, and of character, in the prescribed forms, duly certified, are indispensable, and all must join the ships at their own expense. On arriving at the colony, all will be free to engage their services to whom they please, the bounty being allowed to encourage emigration, as labour of every description is so much in demand.
Cleanliness will be enforced, and every steerage passenger will require to be furnished with at least eight shirts, or shifts, two flannel petticoats for females, six pairs of dark stockings, three towels, two pairs of shoes, two complete suits of clothing, a knife, fork, table and tea spoon, pewter or tin plate, tin pots, combs, soap, brushes, &c.
All passengers, whether proceeding under the bounty or paying their own passage, must conform to the regulations of the ship, which will be strictly put in practice, under the direction of the commander and surgeon-superintendant, and all under the bounty will be allowed to remain on board the ship, and be victualled at the expense of the ship, for one week after arrival, to give opportunities of engaging in service. The rates for cabin passage range from £70 to £100, or more, according to the position and size of cabins; a liberal table is provided, and intermediate passengers are accommodated for £40 each person. Passengers will be allowed room for luggage, free of expense, as follows:--Cabin passengers each one ton, in addition to what they place in their cabin; intermediate ditto, half a ton; steerage ditto, a quarter of a ton. But the packages must be small in size, for stowage.
Previous notice to be given of any additional luggage the passengers wish to take, for which freight will be charged, at 1s. 6d. per cubic foot, payable before embarkation.
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Scale of victualling Steerage Passengers on the voyage from London to the Australian Colonies, for Adult Male Passengers.
Scale of victualling Steerage Passengers on the voyage from London to the Australian Colonies, for Adult Male Passengers.
Adult females receive two-thirds of this scale, and children supplied in ample proportions, according to their ages.
An abundant supply of medical comforts, of every description, placed under the charge of the Surgeon-Superinten-dant, for issue whenever necessary.
Intermediate Cabin Passengers,
Receive, in addition to the above scale, weekly, one pint of wine, half a pint of brandy or Hollands, three bottles of porter, and half a pound of cheese; and twice a week fresh provisions for dinner. They have to provide their own sleeping berths, bedding, linen, knives, forks, plates, and other necessary utensils.
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Parties taking out funds with them, or wishing to remit to New South Wales, are informed that they can be furnished with letters of credit, or draft at thirty days sight, on the colony, on advantageous terms.
Goods and baggage shipped, insurances effected, and every information given, (if by letter, post-paid,) on applying to
MASSON & HOGGINS,
5, Lime-street Square, London,
Who despatch fine ships, with spacious accommodations, to all parts of the Australian colonies, in regular succession.
Colonial Land and Emigration Office,
18th June, 1841.
GENTLEMEN, --I am directed by the Colonial Land and Emigration Commissioners to acknowledge your letter of the 14th instant, reporting some change in your dietary for emigrants, and to state that the alterations appear to the Commissioners judicious, and quite unexceptionable, and that they readily affix their approval to this scheme of victualling.
I am, Gentlemen,
Your obedient servant,
(Signed) S. WALCOTT, Secretary.
Messrs. Masson and Hoggins,
Lime-street square, London.
The attention of the labouring classes is requested to the subjoined statements, from undeniable authority, regarding the prospects which await the sober and industrious emigrant to the flourishing colonies of New South Wales and Port Phillip:--
No. 1. Extract from Colonial Journals recently received in England.
The following is a list of wages at present paid at Sydney to tradesmen, and, notwithstanding the depression in the money market, masters consider it a good bargain if they can procure the
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services of workmen at the wages subjoined; we may also state that the list of rates annexed have been affirmed upon oath within the last four months, before the magistrates, the Commissioners of Requests, the chairman of Quarter Sessions, the judges of the Supreme Court, or from the lips of the workmen, and may therefore be depended upon.
- Boat-builders, per diem, 10s. to 15s. --By piecework, 12s. to 18s. do.
- Brick-makers " 10s. to 15s. -- " 10s. to 16s. "
- Bricklayers " 8s. to 10s. -- " 10s. to 16s. "
- Blacksmiths " 35s. to 3l. per week.
- Chair-makers " 30s. to 2l. 10s. per week.
- Ship-carpenters " 50s. to 60s. per week.
- Caulkers " 9s. to 12s. per diem.
- Coopers " 6s. to 11s. per diem.
- Compositors " 8s. per diem, and 1s. per hour overtime.
- Cabinet-makers and Upholsterers, 6s. to 8s. per diem, or 50s. per week.
- Cooks for lodging-houses, taverns, &c, 7s. to 15s. per week.
- Dairy women, 12l. and 20l., found.
- Engineers, boiler-makers, and engine-men, 3l. 10s. per week.
Those employed in the steamers receive rations, and 30s. to 50s. per week. Farriers, 30s. to 50s. per week; those on their own account, along the roads, make 3l. to 6l. per week. Fencers, on piece work, 3s. to 4s. per rod, earning 50s. per week. Field labourers, 2s. 9d. to 5s. per diem, and found. Gardeners, 25l. to 70l per ann., with rations. Glaziers, 8s. to 9s. per diem.
- Shipwrights, 8s. to 12s. per diem--piecework, 12s. to 20s. per diem.
- Sailmakers, 1l. to 1l. 10s. per 100 yards--piece work, 20s. per diem.
- Shoemakers, 6s. to 8s. per diem, earning, by home work, 10s. and 1l. per day.
- Sailors, coasting trade, 3l. to 3l. 10s. per month; ditto, foreign trade, 3l. 5s. and 3l. 15s. per month.
- Smiths, 8s. to 10s. per diem, general work. Stone setters, 7s. to 9s. 6d. per diem.
- Tailors, 8s. to 10s. per diem--piece work, earning 25s. for coats, 8s. 6d. for trowsers, and 5s. for vests.
- Turners, 6s. to 8s. 6d. per diem.
- Vine-dressers, 25l. to 35l. per annum, and found.
- Wheelwrights, 25l. to 50l "
- Shepherds, 20l to 35l. " "
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No. 2. Extract from an Official Report from his Excellency the Governor of New South Wales, to Lord John Russell. Ordered, by the House of Commons, to be printed, (9th March, 1841.)
"I would beg to refer your lordship to the evidence of the accountant of the Savings' Bank, that during the year 1839 (the year of the greatest scarcity ever known in the colony) the Bank opened 100 new accounts; and that during the present year (1840), the average number of new depositors is 150 per month; that nineteen depositors out of every twenty belong to the labouring classes; and the present amount of deposits (exclusive of convicts) is £127,000. I hesitate not confidently to assert, that there is no country in which labourers living in equal comfort can put by so large a portion of their wages."
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COLONIAL REVENUE--ABSTRACT OF PORT PHILLIP,
For the years ending 1839 and 1840.
SHEWING THE INCREASE IN TWELVE MONTHS.
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COLONIAL REVENUE OF NEW SOUTH WALES,
Including Land-Sales, during the years 1839 and 1840.
SHEWING THE INCREASE IN TWELVE MONTHS.
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DESPATCH FROM LORD JOHN RUSSELL TO GOVERNOR HOBSON,
Shewing the arrangement finally entered into between the New Zealand Company and Her Majesty's Government. Dated March 10th, 1841.
Downing-street, 18th Nov. 1840
SIR--I transmit to you herewith, for your information and guidance, copies of a correspondence between this department and the New Zealand Company, in which you will find the terms of an arrangement into which Her Majesty's Government have entered with that Company, and the conditions on which it has been agreed to grant them a charter of incorporation. I also inclose a copy of that charter. This correspondence will apprise you of everything of importance that has transpired in the negotiations with the company up to the present time, and I shall not fail to inform you of any further arrangements which may be made with that body.
I am, &c,
(Signed) JOHN RUSSELL.
The arrangements to be entered into between Her Majesty's Government and the association who have been hitherto acting under the title of the "New Zealand Company," may be arranged under the following heads:--
I. The adjustment retrospectively of the claims which the company has established to favourable consideration for themselves and for the emigrants whom they have sent to New Zealand.
II. The incorporation of the company, with a view to future operations.
III. The powers which will be vested in the incorporated body, and the terms on which the Government will deal with them in regard to Crown lands in New Zealand.
I. First, then, with regard to the retrospective adjustment of the claims of the company.
1. It being understood that the company have invested large sums of money in the purchase of lands in New Zealand, from the native chiefs and others; in the taking up, chartering, and despatching ships for the conveyance of emigrants thither; in the maintenance of such emigrants before and during the outward voyage; in the
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purchase and transmission of stores for the public use of the settlers collectively on their arrival; in surveys; in the erection of buildings, or the execution of other works dedicated exclusively to the public service of the settlement; and in other heads of expenditure or absolute liabilities unavoidably required, or reasonably incurred, for the before-mentioned purposes; it is agreed that an estimate be forthwith made of this outlay, under the different heads thus enumerated. In making that estimate, no item shall be admitted which shall not be found to have been just, and moderate in amount, and fairly demanded by the exigencies of the service to be performed.
2. The above-mentioned estimate shall be made by one or more accountants, to be named by Lord John Russell, and to be paid by the company. His lordship would propose for this purpose Mr. James Pennington, who should be assisted by such clerks and copyists as he might have occasion to employ.
3. If necessary, Lord John Russell will also nominate an accountant to execute, on the same terms, the corresponding duty within the colony itself, in reference to such parts of the above-mentioned expenditure as can be correctly ascertained and calculated there only.
4. When the amount of the above-mentioned expenditure shall have been ascertained, the company shall be secured by a grant from the Crown to them, under the public seal of the colony, of as many acres of land as shall be equal to four times the number of pounds sterling which they shall be found to have expended in the manner and for the purposes above mentioned; such expenditure, so far as it may have been incurred in this country, to be calculated down to the date of the present agreement; and so far as it may have been incurred in the colony, to be calculated down to the time of the receipt by the governor of a copy of the agreement.
5. The lands so to be assigned to the company shall be taken by them in that part of the colony of New Zealand at which their settlement has been formed, and to which they have laid claim in virtue of contracts made by them with the natives or others, antecedently to the arrival of Captain Hobson, as her Majesty's Lieutenant-governor at New Zealand. Within those local limits the company shall select the lands so to be granted to them. The selection is to be made within six months after the receipt by the governor of a copy of the agreement.
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6. The lands so to be selected by the company as last aforesaid shall comprise all tracts to which any persons have derived title through them, provided that such tracts be situate at or in the neighbourhood of Port Nicholson, or at or in the neighbourhood of New Plymouth, and also provided that such tracts shall not collectively amount to more than 160,000 acres, and provided further that no such tracts shall be such as, regard being had to the general interests of the colonists at large, ought to be reserved and appropriated for any purposes of public utility, convenience, or recreation. With the exception of the before-mentioned tracts, the land to be selected by the company as aforesaid shall be taken by them in one or more blocks. Of such blocks, any number not exceeding six may be of the size of not less than 5000 acres each, and the rest of the size of not less than 30,000 acres each. Every such block shall be one continuous tract. Each block shall be bounded, as far as may be possible, by the natural landmarks of the country. As far as such natural landmarks may admit, each block shall be as nearly as possible a solid parallelogram, of which no one side shall be more than twice the length of any other side.
7. It is, however, to be distinctly understood, that if, previously to the receipt of a copy of this agreement by the Governor of New Zealand, any tracts of land to which any persons derive title through the company, should by the local government have been lawfully entered upon and resumed on behalf of Her Majesty, and should have been lawfully granted or located to any other person or persons, nothing herein contained shall be construed as defeating the rights of any such new grantees or locatees, or as binding the Government to a specific restitution of such lands, to make compensation to the persons so dispossessed for the loss of them.
8. The Government will complete the survey of the external lines of every block of land assigned to the company, but will not effect the interior survey or subdivision of it. The company will be allowed, in account with the Government, credit for the amount saved to the Government by leaving the interior survey of the before-mentioned blocks unmade. For the amount of the credit which may so accrue to the company, they shall be entitled to demand from the Government payment in land at the price at which, at the time of making any such demand, the waste-lands of the Crown shall be selling in New Zealand.
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Provided always that the credit so to accrue to the company for the amount saved to the Government as aforesaid, shall be estimated according to a general scale hereafter to be settled, in which scale the average price of the surveys of lands shall be fixed and determined. That scale shall be drawn up by arbitrators, of whom two shall be chosen by the Government, and two by the company, the majority of whom shall have power to determine the average price of surveying for every 1,000 acres. If the four arbitrators should be equally divided in opinion as to what ought to be allowed for such average price, they shall appoint an umpire, whose decision on the question in dispute shall be final.
9. The lands thus to be granted to the company are to be held by them subject to all such general laws and regulations as are, or at any time shall be, in force in New Zealand, in reference to other lands granted to private persons there; and especially to all laws having for their object the opening of public roads, wharves, quays, or other such like works, and securing to the public at large free access to, and the free use of, all sea-ports, landing-places, and navigable rivers.
10. All public works and buildings included in the above-mentioned estimate are to vest in and become the property of the Crown, in trust for the public uses of the colony, should the governor require them for such purpose.
11. The company forego and disclaim all title, or pretence of title, to any lands purchased or acquired by them in New Zealand, other than the lands so to be granted to them as aforesaid, and other than any lands which may hereafter be purchased or acquired by them from the Crown, or from persons deriving their title from the Crown.
12. The company having sold, or contracted to sell, lands to various persons, Her Majesty's Government disclaim all liability for making good any such sales or contracts; it being nevertheless understood that the company will, from the lands so to be granted to them as aforesaid, fulfil and carry into effect all such their sales or contracts.
13. It being also understood that the company have entered into engagements for the reservation of certain lands for the benefit of the natives, it is agreed that, in respect of all the lands so to be granted to the company as aforesaid, reservation of such lands shall be
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made for the benefit of the natives by Her Majesty's Government, in fulfilment of, and according to, the tenour of such stipulations; the Government reserving to themselves, in respect of all other lands, to make such arrangements as to them shall seem just and expedient for the benefit of the natives.
II. With regard to the incorporation of the company.
1. Her Majesty will be advised to grant a charter of incorporation to the company.
2. The charter will contain all such conditions as may appear to Her Majesty's Government to be necessary for the good government of the company, and for the security of the public at large in dealing with them.
3. The charter will be granted for the term of forty years, and will contain provisions enabling the Crown within that term to resume the charter, and to purchase the lands and other property of the company on just and equitable terms, if the public interest should require such a resumption and purchase.
4. The objects of the incorporation will be declared to be the purchase, sale, settlement, and cultivation of lands in New Zealand, and the advancement of money on the security of lands situate there, for promoting the cultivation of such lands.
As incidental to these main objects, the company will be authorized to purchase and hire ships, and to engage with emigrants for their passage to the colony; it being expressly stipulated that all such ships and emigrants shall be under the superintendence of, and approved by, the Government, or its officers in this country and in the colony.
The capital will be fixed at , with an express prohibition on the company against their engaging in banking or any other commercial undertakings.
III. With regard to the powers of the company, and the terms on which the Government will hereafter deal with them.
1. The company may acquire by purchase, except from the natives, any lands in New Zealand which they may think proper to buy.
2. If the company shall at any one time purchase from the Government 50,000 acres of land, and pay for the same in ready money, a
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discount of per cent., together with allowance for surveys, shall be allowed on every such payment.
3. All lands sold to the company shall be so sold and taken by them subject to all the general rules, on the subject of surveys and otherwise, as shall be in force in regard to any other purchaser.
4. For the present, Her Majesty's Government engage that all sums of money which shall be paid by the company for the purchase of land in New Zealand, shall, whenever such money shall be paid in this country, be laid out in the removal of emigrants to New Zealand; it being left to the company, from time to time, to determine whether such money shall be so laid out by the Commissioners of Colonial Lands and Emigration, or by the company themselves, under the superintendence, and with the concurrence and sanction, of those commissioners.
Finally, Lord John Russell will instruct the Governor of New Zealand to recommend to the local legislature the enactment of a law, having for its object to incorporate as a municipal body, with the usual powers, the settlers who have, at the charge of the company, resorted to Port Nicholson, and settled themselves there, or in that vicinity.
(2.) New Zealand House, Broad-street Buildings, 19th Nov. 1840.
MY LORD, --I have the honour to acknowledge the receipt of a letter, dated the 18th instant, from Mr. Vernon Smith, enclosing, by your lordship's directions, the draft of the arrangement proposed by your lordship.
These have been laid before the court of directors at its meeting this day; and I have great pleasure in being able to assure your lordship, in their name, as well as my own, that the terms are not only such as we have no hesitation in accepting, but that in the liberal and judicious principles on which they are framed we see ample ground for the fullest confidence in the spirit in which Her Majesty's Government is prepared to execute them.
The court of directors has given instructions for preparing, without delay, the draft of a charter of incorporation, which will, I trust, in a few days, be submitted for your lordship's approval.
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I am also desired by the court to acknowledge, with gratitude, the intimation contained in Mr. Vernon Smith's letter, of your lordship's intention of communicating the information which was requested, respecting the general principles by which the Crown proposes to be guided in its measures for the government and colonization of New Zealand, I have, &c,
(Signed) JOSEPH SOMES, Governor.
The Right Hon. Lord John Russell, &c. &c. &c.
Downing-street, 2nd December, 1840.
SIR, --I am directed by Lord John Russell to acknowledge the receipt of your letter of the 19th ultimo, in which you signify to his lordship the acceptance, by the New Zealand Company, of the arrangements proposed in my letter of the 18th ultimo. In fulfilment of the promise contained in that letter, Lord John Russell further directs me now to state to you, for the information of the company, what are the general principles by which the Crown proposes to be guided in its measures for the government and colonization of New Zealand.
In the first place, Lord John Russell wishes that it may be distinctly understood, that in explaining the general course of the policy which the Queen, on the recommendation of Her Majesty's confidential advisers, has been pleased to adopt in reference to New Zealand, his lordship enters into no pledge, either express or implied, for the continuance of that policy, if at any future time it should be thought right to change or to abandon it. Reserving to the ministers of the Crown the most unfettered discretion as to the advice which they shall, from time to time, tender to Her Majesty on this subject, Lord John Russell is happy to make such a disclosure of his present views as may assist the company in the prosecution of the undertaking in which they are engaged.
The instruments for erecting New Zealand into a colony entirely separate from, and independent of, New South Wales, have been completed, and will be forwarded by the earliest opportunity to Captain Hobson.
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In pursuance of the powers vested in the Crown by an act passed in the last session of parliament, the Queen has been pleased, by a charter under the great seal, to constitute a local legislature authorized to make laws for the peace, order, and good government of Her Majesty's subjects in New Zealand. That legislature is for the present composed of the chief officers of the local government, associated with some of the principal inhabitants of the colony.
With regard to all lands in the colony acquired under any other title that that of grants made in the name and on the behalf of Her Majesty, it is proposed that the titles of the claimants should be subjected to the investigation of a commission to be constituted for that purpose. The basis of that inquiry will be, the assertion on behalf of the Crown of a title to all lands situate in New Zealand which have heretofore been granted by the chiefs of those islands according to the customs of the country, and in return for some adequate consideration. Lord John Russell is not aware that any exception can arise to this general principle; but if so, every such exception will be considered on its own merits, and dealt with accordingly.
It is proposed to apply to all other British subjects the rule to which the New Zealand Company will be subject in respect of the lands claimed by them within the colony--that is, all other persons claiming lands there will have confirmed to them, by grants under the public seal, as many acres as shall be equal to four times the number of pounds sterling invested by them in the manner mentioned in the arrangements with the New Zealand Company. This advantage, however, will be offered only to those whose lands were acquired before the 5th day of January, 1840, the date of the proclamation issued by Sir George Gipps on the subject.
Her Majesty has, in the most decided terms, withheld from the Governor of New Zealand the power to grant any land in that colony, gratuitously, to any person whatever. This prohibition does not, of course, apply to the case of grants of land which it may occasionally be convenient to make to persons, in trust for the public, of tracts or pieces of land which may be found convenient to dedicate to purposes of general utility; as, for example, roads, fortifications, public pleasure grounds, cemeteries, and the like.
It is proposed, that with the exception of lands reserved or granted in trust for the purposes before mentioned, all the lands of
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the colony shall be sold progressively, as surveys shall be completed, at one uniform price, which for the present is fixed at twenty shillings per acre. The mode of effecting such sales, and whatever else relates to the conduct of that service, will at all times be explained to parties applying for such information by the Colonial Land and Emigration Commissioners.
It is proposed that at least fifty per cent, of the proceeds of such sales shall be applied towards the introduction of emigrants; the remaining fifty per cent, being regarded as chargeable with the expenses of surveys, with the protection of the aborigines, and with those indispensable expenses of the local government for which it may be impracticable otherwise to provide.
I am, &c,
(Signed) R. VERNON SMITH.
Joseph Somes, Esq.
(4.) New Zealand House, Broad-street Buildings, 4th Dec. 1840
MY LORD, --I have the honour to acknowledge the receipt of Mr. Vernon Smith's letter of the 2nd instant, communicating, by your lordship's direction, the general principles by which the Crown proposes to be guided in its measures for the government and colonization of New Zealand.
On behalf of my colleagues, the directors of the New Zealand Company, and myself, I beg to return our thanks for the gratifying information with which your lordship has been pleased to favour us.
I have, &c,
(Signed) Joseph Somes.
The Right Hon. Lord John Russell, &c. &c. &c.
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SECOND COLONY OF NEW ZEALAND.
Correspondence between the Members of the Second Colony and the New Zealand Company.
LETTER FROM MR. DUPPA TO MR. WARD.
Colonists' Room, New Zealand House, February 3, 1841.
SIR, --On behalf of a body of gentlemen who contemplate the formation of a new settlement in New Zealand on the plan of the first colony which emigrated under the auspices of the company in 1839, I am requested to submit our views to the Court of Directors, and respectfully to beg that they may be taken into early consideration.
Several of us have a considerable personal interest in the prosperity of the first colony, either directly by holding land there, or indirectly through relatives and friends who are there established. Such of us as have this interest would naturally be indisposed to take part in any new enterprise that was calculated to operate injuriously on the settlers at Wellington; and we are all, moreover, decidedly of opinion that the men who braved the hardships and risks of planting the first colony in New Zealand under very unfavourable circumstances, have a claim on the consideration of the company, which should preclude the court from encouraging any new enterprise of a rival character. We have, however, satisfied ourselves that a new settlement established under the auspices of the company would be, not the rival, but the helpmate of the first colony. It may be well that we should state briefly the considerations on which this opinion is founded.
The form and character of New Zealand are such as to prevent the colonization of the country from one point, according to the method pursued in wider regions, where the progress of settlement has usually been directed by the course of a navigable river. In New Zealand there are no navigable rivers properly speaking; but, on the other hand, the narrowness of the islands, and their division into two equal parts by Cook's Strait, render the extent of sea coast singularly large in proportion to the rest of the country. Facilities
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of intercommunication by water are thus provided for the future inhabitants of a long, not to say wide, region of land. The intersection of the country lengthwise by ranges of high mountains, together with the number and excellence of the harbours, further points out that the natural course of colonization in New Zealand is by planting distinct settlements on the coast, and leaving the interior as well as the coast line to be filled up when all these most convenient places shall be sufficiently peopled. The physical geography of New Zealand so far resembles that of Sicily as to suggest the probability of its being colonized as that island was, by the early establishment of towns on the coast, such as Syracuse, Augusta, Catana, Messina, Palermo, Marsala, &c, without any large town in the interior. This, we believe, will be the character of the progress of settlement in New Zealand, whatever may be the course adopted by the company. If the company should not establish distinct settlements on the coast, other people will do so; and therefore, whatever the first colony may have to fear from the rivalry of other settlements, the danger is wholly independent of the proceedings of the company. But, for our part, we perceive nothing like danger for the first colony, but, on the contrary, great advantage, in the establishment of other colonies. The very plan of a new colony, with its selected site, its town and accommodation lands, its combination of energy and wealth for a common object, and its prospect of soon placing a community of emigrants in a condition of social maturity, has a tendency to attract to New Zealand numbers who would not otherwise think of emigrating at all. The progress of general colonization in New Zealand will therefore, we think, depend on the number of plans of this sort that may be successfully carried into effect; while it is plain to us, that, as the excellent position of Port Nicholson will secure to the inhabitants of the shores of that harbour a large portion of general commerce, the first colony will prosper, through the increase of its trade, and the value of its lands, just in proportion to the number and greatness of the settlements that may be formed in other places. Although from the peculiar nature of the islands, and the more active present inclination to settle in a country which has become British territory, other colonies may equal or even surpass the first in numbers, wealth, and progress, yet we are convinced that each of them will contribute to the progress of the one that is in the centre
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of them all. Even though, as is by no means improbable, the settlement at Port Nicholson should not be the greatest, it will be greater than it would have been if no new settlements had been formed; though its relative advancement should be less than that of other settlements, its positive advancement will be in proportion to theirs. It is partly with a view, therefore, to the advantage of the first colony, that we now propose to form another; as we ourselves hope to be in a position two years hence to rejoice in hearing that a third colony is projected.
We understand that by the terms of the arrangement which Her Majesty's Government has made with the company, and according to the system which Lord John Russell has laid down for the general disposal of Crown lands in New Zealand, the company is at liberty to obtain land in any part of the islands that may be at the disposal of the Crown. At the same time we think that it would be inexpedient to determine beforehand in this country the seat of the second colony. We think that this important question should be determined on the spot, as it was for the first colony, in this case by the agents of the company in concert with the colonial government, whose local knowledge would enable them to make the very best choice out of the many eligible spots that present themselves even to those who know the country only by report. We beg leave, therefore, to propose that the seat of the second colony should not be fixed at present.
After much reflection on the subject, we are desirous that the scale of the second colony should be considerably larger than that of the first. It appears to us that, with sufficient precaution on the part of the founders of a colony, it is hardly possible that its scale should be too large. We utterly repudiate the old fashion of colonizing, according to which a small and feeble society was content, for several generations, to adopt the primitive mode of life, and to pursue a rude husbandry which produced only food for their own subsistence. By the system of colonization which the company has adopted, land is made comparatively dear, and labour plentiful, so that the enterprise of founding a colony attracts a mass of capital, which the plan of its subscription causes to be used methodically in combination for general purposes; and hence it follows, that the new community may be so established on the new land as to resemble a small portion of the old society from which it has emanated;
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not retrograding towards the rude and primitive state, but preserving in the new place the combination of labour, the division of employments, and the productive power of an advanced civilization. Under such a plan, it appears to us that the scale of operations cannot well be too large, if foresight and a regard to due proportion among the elements of the undertaking direct every step of the founders. The greater a new colony, the more assured will be its prospect of early success, provided that everything is cared for beforehand in accordance with the magnitude of the enterprise. Such are the considerations which lead us to wish that the court may feel justified, by the present strong position of the company, and the greatly improved prospects of any who may now emigrate under its auspices, in sanctioning for the second colony a larger scale of proceedings than was deemed sufficient in the former case, when every movement was impeded by doubt and insecurity. We therefore propose--
I. That the company shall submit for sale in this country, but without yet determining the seat of the new colony, 201,000 acres of land, at the price of 1l. 10s. per acre.
II. That the land shall be sold in 1000 allotments, each of which shall consist of three sections; one section of 150 acres of rural land, one of 50 acres of accommodation land, or land affording the prospect of a rapid increase of value from its proximity to the town, and one of a single acre of town land.
III. That the land thus offered for sale shall be so selected by the company as to comprise the 201,000 acres of the greatest value in the settlement with respect to fertility and position.
IV. That in awarding their allotments to purchasers, the priority of choice shall be determined by lot, as in the case of the first colony.
V. That in respect of the 1000 allotments there shall be added a quantity of land equal to one-tenth of the whole, or 100 allotments of three sections each, as reserves for the benefit of the principal native families in the settlement, according to the plan of native reserves adopted in the first colony.
VI. That the sum of £300,000 received by the company in payment for such lands shall be appropriated as follows:--
First, £150,000 for the exclusive purpose of emigration to the settlement.
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Secondly, £50,000 for the expenses irrecoverably incurred by the company in selecting the site, and otherwise promoting the safe and orderly establishment of the colony; any residue of this fund which may not be so expended to merge in the fund created by the next article.
Thirdly, £50,000, together with any other sum which may accrue as residue of the last-mentioned fund, for certain public purposes of the second colony, of which the object shall be to render the settlement commodious and attractive.
Fourthly, £50,000 for the company itself, as profit on the use of its capital.
In proposing the price of 30s. per acre instead of 20s., which was paid by the members of the first colony, we are decidedly of opinion that we suggest a valuable improvement, being convinced that the outlay of £50,000 in the methodical settlement of the colony, over and above what the company may contribute to that purpose, and of £50,000 in rendering the settlement commodious and attractive, will have the immediate effect of giving to the aggregate of the land a greater increase of value than the additional sum of £100,000 produced by the 10s. per acre. Ten shillings per acre more or less as the price of selected land on which £150,000 will be rapidly expended for emigration, is a matter of little consequence to the purchaser; but the outlay of ten shillings per acre in respect of all the land, for collective purposes, calculated to render the settlement commodious and attractive, will produce results of far higher pecuniary value to every land-owner than his contribution to the sum so expended.
The objects to which, as it appears to us, it would be most desirable to appropriate the £50,000 devoted for purposes of collective advantage, are as follows:--
1st. That inasmuch as nothing is more conducive to the emigration of persons of all classes than an assurance that the emigrants will be provided in their new abode with the religious ordinances to which they have been accustomed at home, the company shall contribute £15,000 towards religious endowments for settlers in the new colony, of every denomination of Christians, in due proportion to the number of emigrants of each denomination who may apply for such assistance, and either towards the passage and mainly
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tenance of clergymen, the building of churches, or the endowments of bishoprics, as may seem most expedient to the company.
2nd. That £15,000 shall be contributed by the company towards the foundation of a college in the new settlement.
3rd. That the remaining £20,000 shall be expended by the company in giving encouragement to steam navigation in the settlement, by way of bounty.
We submit this plan to the court in general terms, as an outline which requires much filling up. Our immediate object is to ascertain whether the principles of the plan meet with the approbation of the court. If that should be the case, we shall be ready to proceed to the consideration of details. Meanwhile it behoves us to express our own confidence in the practicability of the measure. Such have been the judgment, energy, and public spirit of the company, and such their constant observance of the engagements into which they have entered with the public, that we are sure the purchasers of land in the new settlement would readily confide to the directors the expenditure of the £250,000 which it is proposed to lay out in the establishment of this colony; and we are clearly of opinion, after long and careful inquiry on the subject, that our intentions and those of our friends with respect to the purchase of land, together with the high popularity of New Zealand as an emigration field, and of the company as an administrative body, warrant us in believing that the whole of the land will be disposed of in a short space of time, and that a more numerous and wealthy body of capitalists will be ready to emigrate than ever left the shores of this country to establish a colony. If our project should be adopted by the company, we shall engage personally in the enterprise, with a confident hope of being able to surmount the difficulties that necessarily attend on the plantation of a new colony, and of being instrumental, through the success of our improved plan, to the still further progress of the colonizing spirit which has so signally revived in our time.
I have the honour to be, sir,
Your obedient humble servant,
BRYAN EDWARD DUPPA.
To John Ward, Esq.,
Secretary of the New Zealand Company.
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LETTER FROM MR. WARD TO MR. DUPPA.
New Zealand House, 9, Broad-street Buildings, 10th Feb., 1841.
SIR, --The court of directors of the New Zealand Company has taken into its consideration your letter of the 3rd instant, written on behalf of yourself and other gentlemen contemplating emigration, and containing proposals for the establishment of a second settlement under the direction of the New Zealand Company.
I am now commanded by the court to offer you its thanks for this valuable communication, and to inform you that the court approves of the plan of a second colony thus brought before it, subject to some slight modifications which I am about to mention. The directors, far from apprehending any injury to their first settlement from the establishment of a second, are, on the contrary, of opinion that the interests of the settlers at Port Nicholson will be very materially promoted by the formation of a new settlement within a moderate distance, which might be the means of creating commercial intercourse between the two places, and of adding a fresh stimulus to the energies of the Port Nicholson colonists. The directors always contemplated the establishment of other settlements in due time, after their first and principal settlement should have been founded on a secure and permanent basis; and they think the time has now arrived when they may co-operate in the plan of a second colony, not only without the possibility of injuring, but with the confident hope of benefiting all persons interested in the prosperity of the Port Nicholson district.
Entertaining such views, the directors have not hesitated to act promptly upon your suggestions, and have drawn up land regulations for a second settlement, which will be published immediately, and which the directors trust will meet the wishes of intended colonists. The directors will not shrink from the heavy responsibility which they incur by becoming trustees of the large sums of money which it will be their duty to expend for the benefit of the new settlement in the manner proposed, because the experience of the past satisfies them that the settlers emigrating under the sanction of the company will confide in the rectitude of its purposes, and the good faith of its administration; and it will be ever the anxious care of the directors to continue to merit the confidence so liberally reposed in them by the colonists and the public.
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The directors have slightly varied the terms proposed by you, by fixing the price at £300 for each allotment containing three sections --viz., one hundred and fifty acres of rural land, fifty acres of suburban land, and one town acre. They are also of opinion that the second colonists are entitled to participate, to a limited extent, in the benefits of cabin passage allowance enjoyed by the first colonists. It is therefore intended, on the present occasion, to apply a portion, not exceeding £20,000, of the emigration-fund, towards the cabin passage allowances to purchasers, under proper regulations. Reserves of land for the natives will be made, subject to an arrangement with, and the approval of, Her Majesty's Government; and the company will reserve the right of purchasing, on its own account, a quantity not exceeding one-tenth of the lands offered for sale, upon the same terms in every respect as other purchasers. Subject to these variations, you will perceive that your suggestions have been followed by the directors in their new land regulations.
Having thus adopted the proposal of a second settlement, the directors desire me to convey to you their assurance, that they are prepared to carry forward the project without any delay, and with the same vigour and energy with which they endeavoured to promote the objects of the first colonists. The directors are anxious to fulfil, to the best of their ability, the purposes for which large powers have been committed to them by the Crown, and to prove to the public and to Her Majesty's Government that the royal favour has not been extended to the company in vain.
I have the honour to be, Sir,
Your most obedient servant,
JOHN WARD, Sec.
To Bryan Edward Duppa, Esq.
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NEW ZEALAND COMPANY.
Governor--Joseph Somes, Esq.
Deputy-Governor--Hon. Francis Baring.
Viscount Ingestre, M. P.
Henry A. Aglionby, Esq., M. P.
John Ellerker Boulcott, Esq.
John William Buckle, Esq.
William Taylor Copeland, Esq.,Alderman, M. P.
Russell Ellice, Esq.
James Robert Gowen, Esq.
John Hine, Esq.
William Hutt, Esq., M. P.
Ross Donnelly Mangles, Esq., M. P.
Stewart Marjoribanks, Esq., M. P.
Sir William Molesworth, Bart.
Alexander Nairne, Esq.
John Pirie, Esq., Alderman.
Sir George Sinclair, Bart.
John Abel Smith, Esq., M. P.
William Thompson, Esq., Alderman, M. P.
Hon. Frederick James Tollemache, M. P.
Edward G. Wakefield, Esq.
Arthur Willis, Esq.
George Frederick Young, Esq.
TERMS FOR PURCHASE OF LANDS IN THE SECOND SETTLEMENT.
1. The company has determined upon the formation of a second settlement upon its territories in New Zealand, the site of which will be selected by an expedition to be forthwith despatched for that purpose. It is intended that the site chosen shall be the best that may be available at the time of the selection being made, and that the position with reference to Port Nicholson and the rest of New Zealand shall be such, that the lands may reasonably be expected to advance in value with the utmost rapidity. The company, therefore, hereby offers for sale 201,000 acres of land in the proposed second settlement, upon the following terms; --
2. The lands are offered in 1000 allotments of 201 acres each. Each allotment will consist of three sections--viz., one hundred and fifty acres of rural land, fifty acres of accommodation land in the immediate proximity of the town, and one town acre. The town
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will therefore comprise 1000 acres, exclusive of reserves for public objects, such as streets, squares, churches, cemeteries, markets, and public gardens or parks.
3. The price of each allotment of 201 acres will be 300l.
4. A deposit of 30l. on each allotment must be paid to the company's bankers, Messrs. Smith, Payne, and Smiths, and the bankers' receipt produced and filed previous to any application being registered at the Company's House. The residue of the purchase-money will be required on a day of which public notice will be given. In case of default in payment of such residue by the day appointed, the deposit will thereupon become forfeited to the company, together with all claim of the applicant to the land applied for.
5. On payment of his full purchase money, each purchaser will receive for each 300l so paid, three separate land-orders--viz., for the 150 acres of rural land, the 50 acres of accommodation land, and the town acre respectively. These lands are to be severally selected according to priority of choice, to be determined by lot, as hereinafter mentioned.
6. Three several ballots for priority of choice of the rural sections, accommodation sections, and town sections, in manner to be arranged by the directors, will take place at the Company's House in London, in the presence of the directors, and of such purchasers, or their agents, as may attend, on days, of which public notice will be given. The choice of the allotments, of which priority shall have been so determined, will take place in the settlement as soon after the arrival of the first body of colonists as the requisite surveys and plans shall have been completed, and under such regulations as shall be prescribed by the company's agent duly authorized in that behalf. Neglect or refusal to comply with such regulations in regard to any section shall occasion a forfeiture of the purchaser's right of choice, and vest it in the company's officer on behalf of such purchaser.
7. The company engages, subject to an arrangement with Her Majesty's Government, to add to the 201,000 acres offered for sale a quantity equal to one-tenth thereof as native reserves, so that the quantity of land to be appropriated will, in fact, consist of 221,100 acres, and the town of 1100 acres. The plan of the native reserves in the first settlement will be followed, unless the regulations of Her Majesty's Government, or any unforeseen difficulty, should prevent its adoption.
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8. The company reserves the right of purchasing a number, not exceeding 100 of the 1000 lots offered for sale, for its own benefit, at the same price, and subject to the same terms, in every respect, as other purchasers.
9. The sum of £300,000, to be received by the company as the purchase-monies of the lands now offered, will be appropriated in the following manner--viz.:
£150,000 to the exclusive purpose of emigration to this particular settlement.
£50,000 to defray the company's expenses in selecting the site and establishing the settlement. Any surplus of this fund to be applied to the public purposes next mentioned.
£50,000 to public purposes, for rendering the settlement commodious and attractive. As such purposes, it is intended to apply £15,000 to religious uses and endowments for colonists of all denominations, £15,000 to the establishment of a college in the settlement, and £20,000 towards the encouragement of steam navigation, for the benefit of the settlement, by way of bounty.
£50,000 to the company, for its expenses, and profit on the use of its capital.
The company undertakes to apply the purchase-monies in the proportions stated, or as nearly so as may be practicable, to the several objects previously specified.
10. The whole of the emigration-fund, with the exception of £20,000, will be expended in conveying to the new settlement labouring persons eligible according to the regulations now in force with reference to the first settlement. The £20,000 will be reserved as a special fund, out of which, and to that extent only, allowances will be made to purchasers, towards the cost of cabin-passages for themselves, their families, and servants, to the settlement. The amount of the allowance will in no case exceed £25 per cent, of the purchase-money paid by the colonists; and, the fund being limited as above mentioned, preference will be given to the applicants for
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the allowance, in the order of their respective applications for the same. Particular regulations, relative to the mode of obtaining cabin-passage allowances, will be hereafter issued; but it is to be distinctly understood, that the directors reserve the power of granting, withholding, or adjusting the same, according to the merits of each particular case, and that no application for the allowance will be entertained, under any circumstances, after the expiration of the present year.
11. The directors reserve a discretionary power of suspending the sales to the public generally, in case they should find it necessary to reserve any number of allotments for sale to actual colonists.
12. The register of applications will be opened on Monday, the first of March next, until which day no applications will be noticed. Written applications for allotments will thenceforth be received and registered by the secretary of the company, until a day, of which public notice will be given, when the land-orders will be awarded strictly according to priority in the register of applications and to the result of the ballots, and all deposits received will be returned, in case, by reason of the above rule of priority, or from any other cause, the directors shall be unable to award the required land-orders to the whole of the applicants.
By order of the Court,
JOHN WARD, Sec.
New Zealand House,
Broad-street Buildings, 15th February, 1841.
Printed by T. C. Savill, 107, St. Martin's Lane.