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The Pamphlet Collection of Sir Robert Stout: Rare Volume

Note XXV. p. 22

Note XXV. p. 22.

XXV. New Zealand Company's debt.

In admitting a claim on behalf of the Company to indemnification, Lord Grey expressly states the company's claim to be "against her Majesty's government and he proceeds to state that the "enterprising settlers have suffered injuries more to be deplored even than those to which the Company has been subjected." (P. P. June, 1847, p. 108.) It seems a curious method of compensating the company, to make "the enterprising settlers" pay the damages due from her Majesty's Government, out of the land fund of the colony. That that fund is in the nature of a trust for promoting emigration and for local purposes, see page 37 Lord Grey's despatch, 23rd December, 1846, P. P. August, 1846, p. 70, where, speaking of the land fund, he says, "The crown receives the money only as a trustee for the public :" "The power of the crown over these lands should never be employed for any purpose of patronage, influence, or favouritism "The first application of the land revenue should be towards defraying the expenses incident to the administration of the crown lands department; the surplus should be applied towards the introduction of manual labourers from this country, unless when the exigences of the public service may render the application of it to other local purposes indispensable." But see most particularly the Royal Instructions, issued under Lord Grey's advice in 1846, by which it is expressly declared that the proceeds of all demesne land sold in the colony shall be held by the crown" in trust for defraying the cost of introducing emigrants from the United Kingdom, or in trust for defraying the cost of such other public services Therein, as shall from time to time be prescribed by royal instructions" Surely this precludes the appropriation of the fund to the payment of damages to a third party, claimed for past injuries inflicted by her Majesty's Government.