G-reat reductions are to be effected in the Civil Service; pnblic works are either stopped for want of funds or cur tailed now that the winter is over, and out of the last £5,000,000 loan, when prior engage ments had been met, only about £800,000 re mained available. What ie wanted is more capital to develop the splendid resources of the country. There are cosl mines, the pro duce of which is beginning to be need for local service, but they want development ; the (amber of the country is second to none, but the trade in it is at present limited, and so with the other riches of the land. Whether the New Zealand farmers will be able to com pete with America, and make .their exDorfa pay, remains to be seen. Tbere are 13,000 miles to get over instead of 4000, and at pre sent most of the New Zealand trade is in sail. we ship*, which take a hundred days and up wards between the two countries. But if there ia a profitable trade to be done in meat, Wβ may soon expect to see steam eommncica turn between the colony and tbe mother country greatly extended. The country is a megnificent one, and has, we believe, a great future before it, but unless capital follows emigration there nurt be sore disappointment for many who have been taught to believe in New Zealand as a land flowing with milk and honey. i

A Botai. PBB3BHT.—Wβ {" Home News") reported some time since that the Queen intended sending an interesting present to the President of the United States. In 1852 the Beeolote, which formed part of the expedi tion in searoh of Sir John FrankliD, was abandoned in high latitudes. She was re covered by a whaler in 1854. The United States Government purchased her, fitted her anew, and sent he? as a present to Queen Victoria as a toktn of goodwill and friend ship. 