Object #1026899 from MS-Papers-0032-0464
4 pages written 25 Jan 1866 by John Morrison in London to Sir Donald McLean
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, London
25 Jany. 1866
My dear Sir
By the Book post I have sent you a Pamphlet which has been printed, and circulated here by I believe several Auckland Colonists who are at present in England. It is entitled "The Credit of New Zealand and the Honour of Great Britain". The object for which it has been circulated is to deter capitalists and others investing in N. Z. securities and thus embarrass the General Government. I am prepare to hear it is universally condemned in the Colony. It may do some harm here but the tone of it is so one sided and unwise that it may be little felt. I grieve to think that any gentlemen connected with the Colony should attempt to destroy its credit. The Leader in the Times of the 20th Inst. will do us more good.
I am getting the Government instructions about the introduction of birds printed so that every Emigrant
shall receive one when he gets notice about his passage. I must however get the Brokers sanction to lade them otherwise they may refuse to do so, for the Government Emigration officers do not allow it. It is a better policy to adopt than purchasing from Baker or any other dealer for the great drawback to such a course if the difficulty of getting them properly attended to during the voyage. There is a telegram in town reporting further successes by the Colonial forces and friendly natives it is therefore to be hoped that the Hau Hau movement will soon become extinct in the province of Hawkes Bay.
The Money Market is again very high. The Minimum sale of Bank of England Discount is 8 p. c. or in the open market 9 p. c. Colonial Securities continue unsaleable. A large amount of 6 p. c. Otago Debentures charged hands at 84 with nearly 6 months accrued interest and today I have been offered £20,000 General Government 8 p. c. Treasury Bills at Par with accrued interest from 1st January. So long as our market is so sensitive and money keeps high there is little prospect of any Colonial security obtaining its fair value. The Crown Agents
floated £100000 of the Debentures (6 p. c.) of the Mauritius Government at par, the previous sale effected by them last Feby. was at 3 p. c. There is no colonial security more favorably recognized than the above named and yet it is degenerated in value to the extent of 3 per cent.
I am, My dear sir
P.S. I send you by Book post a very elaborate report on Wool I am hardly expecting you to wade thro it yet it may interest and be of service. J. M.
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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