8.—13b

1895. NEW ZEALAND.

MILLION-AND-A-HALF LOAN UNDER "THE GOVERNMENT ADVANCES TO SETTLERS ACT, 1894" (CORRESPONDENCE RELATING TO THE NEGOTIATION OF THE).

Laid before both Houses of Parliament by Command of His Excellency.

No. 1. The Colonial Treasurer to the Agent-General. (No. 116.) Sir, — The Treasury, Wellington, 31st October, 1894. With reference to raising moneys under the Advances to Settlers Act of last session, I am having ah Order in Council prepared appointing Sir P. Julyan and yourself as agents for the purpose of raising a loan thereunder. The Order in Council will not, however, be ready to despatch by this route, and in the meantime it has occurred to me to send you a cable asking if you would communicate with Sir Penrose to ask his consent to act as on former occasions, when his services have been so highly appreciated by the Government. Copy of cable herewith. I have, &c, A. J. Cadman, The Agent-General for New Zealand, London. For the Colonial Treasurer.

Enclosure in No. 1. Agent-General, London. Wellington, Ist November, 1894. Ascbbtain whether Julyan will act with you as Loan and Stock Agent to raise funds for cheap-money scheme.

No. 2. Glasgow, Governor. Order in Council. At the Government Buildings, at Wellington, this twentieth day of November, 1894. Present: The Hon. Sir Patrick Buckley, K.C.M.G., presiding in Council. Whereas by " The Government Advances to Settlers Act, 1894 " (hereinafter called " the said Act"), it is among other things enacted that it shall be lawful for the Governor in Council to appoint any two or more persons he may think fit to be Agents for the purpose of raising and managing the loan thereby authorised to be raised, with all such powers as may be necessary to carry into effect the purposes thereof, and in their appointments to define the relative powers of such Agents, and that such Agents shall have full power and authority to borrow and raise in Great Britain or elsewhere, by bonds, debentures, scrip, or by the issue of inscribed stock under " The New Zealand Consolidated Stock Act, 1877," or otherwise, such sum or sums, not exceeding in the aggregate one million five hundred thousand pounds in any one year, as the Governor in Council may from time to time authorise : Provided, inter alia, that the total amount raised under the said Act shall not exceed in the aggregate three million pounds sterling: And whereas it is expedient that the said loan so authorised to be raised should be raised under the said Act for the purposes therein mentioned, and that Agents should be appointed for the purpose as hereinafter provided: Now, therefore, I, David, Earl of Glasgow, the Governor of the Colony of New Zealand, in exercise and pursuance of the powers and authorities vested in me by the said in-part-recited Act, and by and with the advice and consent of the Executive Council of the said colony, do hereby order and determine that the sum of one million five hundred thousand pounds sterling shall be borrowed and raised under the provisions of the said Act for and in respect of the year ending on the thirty-first day of March, one thousand eight hundred and ninety-five; and in further exercise and pursuance of the powers and authorities aforesaid, and with the like advice and consent as aforesaid, I do hereby appoint Sir Penrose Goodchild Julyan, a Knight Commander of the Most Distinguished Order of Saint Michael and Saint George, and a Companion of the Most Honourable Order of the Bath, late one of the Crown Agents for the Colonies, and Sir Westby Brook Berceval, a Knight Commander of the Most Distinguished Order of Saint Michael and Saint George, the Agent--I—B. 13b.