Object #1012775 from MS-Papers-0032-0464
4 pages written 26 Apr 1864 by John Morrison in London to Sir Donald McLean in Napier City
From: Inward letters - John Morrison, Reference Number MS-Papers-0032-0464 (31 digitised items).
32 letters written from Office of the New Zealand Government Agency, 3 Adelaide Place, King William Street, London
A transcription/translation of this document (by ATL) appears below.
3 Adelaide Place
King Wm. Street
26 April 1864
My dear Sir,
I have none of your private lines to reply to but knowing your interest at present in the monetary matters I cannot let the mail leave without advising you of the increased stringency that again exists here. The Bank of England on the 16th inst. raised the rate of Discount to 7% at which it is now standing and the best short dated paper cannot be converted at a less rate, on the general market money is much dearer. The Bank of New Zealand continues to advertise the Otago Debenture s for sale and on good authority I am told not £40000 of them have been disposed of out of the £200000 - It is to be regretted the way in which they are forced on the market by advertisements now militates against them and does not good to other provincial securities. I am glad to see that the Union Bank of Australia is not offering the Hawkes Bay Loan a large amount of patience must be exercise for I am afraid the market may be in the present stringent state for some time to come. I am in treaty for a direct ship for Napier and co operating with Mr. Potter of Glasgow friend of Mr. Mathew Holmes and expect to hear that we have one before this is closed. I hope that you will do all in your power to get the General Government to authorize you to conduct the Emigration that is to be introduced into Hawkes Bay. The tendency of Mr. Wood is certainly towards Auckland and from what I can gather altho I believe nothing definite is fixed, he intends to place it under the management of the Emigration Commissioner
if this is carried it will be done well but more expensively and without the slightest regard to the shipping interests of the port. It is all very well with large ports but the shipping trade of N. Z. is not so independent or not to be influenced by large shipments of emigrants. In your hands the introduction might foster a direct trade for a long time to come. I venture these remarks for when there is a chance of the Provinces benefiting themselves I would not like to see the Government of the colony prevent it. On the plea of economy it is fair that the province should have a voice in the matter. It can be done, for a firm offered a contract, chaper by 37 @ 47 per adult share than the Commissioners.
I am glad to hear through Mr. Rhodes that the Government have arranged to have a Tug Steamer and Steam lighter for the port. I had the tracing and specification of a Tug that I am now building to send to you by this mail for am disposed to think it was very necessary for your port. Especially a thoroughly powerful and swift vessel, one combining also good passenger accommodation and cargo capacity. I will take the liberty to send you by next mail a tracing of a light wrought Iron bridge of about 75 feet span which I have had prepared as being most serviceable and thoroughly adapted for the rivers of New Zealand. It will bear any ordinary road traffic or herds of cattle and light and cheap the whole packed marked and delivered free on board of ship in London not exceeding £360.
Our next wool sales commence on the 5th proxo. a large quantity will be offered some say not less than 100000
Bales but notwithstanding this large extent and the present stringent state of the money market, it is generally expected that prices at the approaching sale will be firmly maintained for trade in the manufacturing districts is good and stocks in hand extremely light - The Asterope from Wellington has arrived in time for the May sales.
We are much concerned to learn of the apparent doubt that exists about the contract of the Panama route being carried out. Mr. Wood does not hesitate to say it will not. If it is the case, it will be a serious blow to New Zealand and especially in financial matters for the public are not altogether given to distinguish with care between contending parties but if a public contracter is not carried through that the onus rests with the party who draws back. I am much concerned about it for the cred of the Colony.
An important deb ate is expected to take place tonight in the House of Commons on New Zealand. Mr. A. Mills is to bring on his motion about the War. The Government I am told will take the opportunity to declare its intention regarding the Loan. Mr. Wood had an interview yesterday with Mr. Cardwell I have not seen him today to learn the result of it. Excuse this hurried scrawl for I am just going up to the House with your friend Mr. W. S. Grahame to hear what is to be the result of the debate.
I am my dear Sir,
Donald McLean Esqre.
Napier. Hawkes Bay. N.Z.
P. S. I have just got word that the "Strathallan" is fixed for Napier direct.
Inward letters - John Morrison, Reference Number MS-Papers-0032-0464 (31 digitised items)
Series 1 Inward letters (English), Reference Number Series 1 Inward letters (English) (14501 digitised items)
McLean Papers, Reference Number MS-Group-1551 (30238 digitised items)
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