[From the Daily Newt, September 21. J Since Mr. Burnand insists upon it, we give publicity to his second letter ; although, as our j readers will learn from the notes we have ap pended to it, it appears to us little to the pur pose. As to his second letter, it consists mainly of personal attacks Upon the settlers who sign the Letter to the Directors, published in the Daily News of August 27 and 31, and:-Sep tember 2., Mr. B.we do not know, but some of these gentlemen we do know to be men of high worth and integrity — gentlemen in the true sense of the word. And we are not going to lend ourselves to the publication ' of libels on honest' men. \Ve should be loth to suspect the Directors of the New Zealand Company of knowing and sanctioning the mode of discussing this ques tion adopted by the writer of the letter which | appeared in the Daily News of the 4th of September and by Mr. Burnand. It is ob vious that a difference of opinion exists be tween the Directors and at least some of the settlers as to their mutual claims and liabili ties with respect to each other. Such a dif ference' of opinion does not necessarily imply anything dis'cre'dftable on either side. It i& a question of law' or equity, which ought to be decided apart from mere personal considera tion's, Personarimputations against men who have suffered much, and think they have rea son to complain of the Directors, would not be a judicious way on the part of the latter to set themselves right with the public. We therefore assume that, as men of sense, they do not "approve of the line taken by their self appointed defenders. But we must be allowed to think their si lence* unwise. Unless they can give a per fectly satisfactory explanation of their conduct in' the transactions on which the Letter of the settlers' is tiased', they "can scarcely hope that Scotchmen will venture under 'their auspices to Otakou. 