Object #1023693 from MS-Papers-0032-0483
From: Inward letters - J D Ormond, Reference Number MS-Papers-0032-0483 (45 digitised items). 44 letters written from Wallingford and Napier. Includes letters addressed to William Fox, William Gisborne, Daniel Pollen; also letter from Charles Westrup to Ormond, Dec 1869.
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My dear McLean,
I have little to write you of this week. I was sorry to see from your note that you had had an attack of your old complaint but was also glad it had passed over lightly. A sort of hint to you be take care of yourself.
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I note that the sum of £26,990 is at our credit with the Bank and that you propose to deposit £10,000 for 6 months at I think you told me 4 p.c. per annum. I dont like this a bit - to borrow money at higher interest than you reinvest it for, is bad finance. Have you provided for the different accts. on which the loan was to be expended. For instance has the amount voted for Immigration been paid into the Immigration Acct. - it ought to be if it has not been done. I wd. if I were you pay off as many of the Loan items as you can before loding any sum on deposit. What about the Land purchase funds can nothing be done to push the purchases. I feel quite sure that unless the money for land buying is expended or pledged before the Provincial Council meets that
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the money will be diverted otherwise. Tell Locke that unless he makes running now, his chances of getting a commission are nil. I believe if he attended to it the 40 mile Bush could be bought and probably Hikutoto and if they were we should have another Provincial nest egg to tide us over another year or two without direct
taxation. See what you can do in this - it is worth expending a little trouble upon.
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Who is your friend that keeps at you so pertinaciously in the H. B. Times? It is rot of course but it is done with an object and the movers trust by keeping at it to get their version in vogue.
We are having a tremendous burst from the N. E. and the rain fallen has been very heavy - the Country hereabouts is thoroughly soaked and there will be no lack of feed this year.
J. D. Ormond
Inward letters - J D Ormond, Reference Number MS-Papers-0032-0483 (45 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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