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Ana tiee good titot we csa *»

Among the terrible disasters that were to befal the colony upon the elevation of Sir George Grey to power, according to that extremely select section who pride them selves upon "differing " from his political views, was the complete collapse of New Zealand credit in London. It might have been inferred from the ominous warnings breathed by Major Atkinson and his sup porters that the price of colonial securities was sustained on the London Exchange simply by the greatness of the ex-militia captain's name. Even the Most Noble the Marquis of Normanhy professed alarm lest : a curtailment by the Ministry of the ex travagant schemes of their predecessors should depress the spirits of the gentlemen in London who were finding the money ! It appears, however, that those gentle men look at recent events from quite a different point of view. A cable despatch from the Agent-General announces a rise in New Zealand securities, which he says " have never been so high as they arc now. Consolidated lives, 107 ; other fives, 105J; 4-| per cents, 9Sf." A reference to West garth's circular shews that on the 6th of January N ew Zealand fives stood at 104-105; on the 6th of June they had fallen to 103i-104i. The rates stated by Sir Julius Vcgel, therefore, are about three per cent higher than the quotation in June of the present year. The 4J per cent loan on the Gth January, 1577, stood at 97-9S ; but on the 6th of June, despite the assurance which the possession of such a financial genius at the head of the Government gave debenture holders, the stock had fallen to 95£ and 9GJ. Sir Julius Vogel informs us it is-now at 98|.
