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to purposes of reclamation, including a scheme for an extension of the railway from
Pipitea to the reclaimed land in the centre of the town.

I am happy to be able to state that it was unnecessary to make application
elsewhere than to a local company, which has thus the credit of furnishing the funds for
this loan. I refer to the Wellington Trust, Loan, and Investment Company.

It is further satisfactory to be able to state that £25,000 has been already paid to
the General Government, although two years ago it was boldly asserted in the House of
Representatives that the Province would never repay this sum to the Colony, and that
the security affixed was visionary. Whereas it now appears not only that the amount
of mortgage has been paid off (£25,000), but that £75,000 additional
has been borrowed on the same security, with every prospect of yielding to the Province
a profit of £50,000, after paying off the £100,000 so borrowed.

Papers explanatory of the negotiation with the General Government for railway
extension and a central station will be laid before you, and I believe, meet with
your approval.

But the Provincial Government would have only partially performed its duty to
the Province if it had merely endeavoured to provide the means for carrying out that
portion of your scheme of public works which embraced the town of Wellington. It
therefore had to devise some plan by which the other works which you proposed in the
country might be commenced. It was accordingly decided to apply to the Bank of New
Zealand for an overdraft of £50,000. It is most gratifying that I am able to report to
you the ready acquiescence which the Inspector accorded to this proposal. The success
of the application affords the most practical proof of the high credit which a prudent
conduct of your financial affairs has established for this Province. The correspondence
relative to this negotiation will be placed before you, and I venture to suggest that the
occasion would be opportune for you to express by resolution your appreciation of the
ready manner in which this overdraft has been granted by your bankers, and declaratory
of your determination to make from time to time the necessary provision for the
payment of interest and principal.

Ways and means having been thus provided, it might have been competent for the
Provincial Government to have expended the means at disposal without further
reference to you, on the objects which you had already sanctioned by resolution. It
was, however, deemed more respectful to you to convene you and submit the whole
circumstances for your further consideration and sanction.

A carefully-prepared measure will accordingly be submitted to you without delay,
intituled “An Act to authorize the construction of certain Bridges, Roads, and other
works in the Province of Wellington.”

In this Bill you are asked to appropriate the sum of one hundred and seventy-five
thousand pounds, although only fifty thousand pounds has been as yet provided. I
trust, however, that no doubts will arise in your minds as to trusting the Provincial
Executive with the selection of works to be now undertaken. If you had at present
the whole £175,000 at your disposal, it would not be prudent immediately to contract
for works involving so large an expenditure, having due regard to the supply of labour;
and I can assure you that if you will consent to regard the £50,000 now placed at
disposal simply as an instalment of the £175,000, hereafter to be provided, you may
depend that the utmost endeavours of the Provincial Government will be exerted to
obtain the remainder, as wanted, and that the Provincial Executive promise you that
the whole of the works named in the Schedule of the Bill shall, in due course, be
executed in a spirit of impartiality towards all parts of the Province. I may mention
that the Provincial Government has already selected six additional Surveyors, and
four Engineers, out of the numerous applications made for employment in answer to
advertisements; so that preparations are already made to enable works to be carried on
vigorously so soon as your sanction is given.

I regret the necessity for having called you together at so inconvenient a season
of the year; and can only say that that inconvenience will be rendered as light as possible
by the Government having decided not to bring before you any business except the
special one to which I have already invited your attention.

I now declare the Session to be opened for the despatch of business.

William Fitzherbert,
Superintendent.

Speech of His Honor the Superintendent on proroguing the Twenty-fifth Session of the Wellington Provincial Council.

Mr. Speaker and Gentlemen of the Provincial Council,—

I regret to learn that the Council has rejected the “Bridges, Roads, and other
Works Appropriation Bill, 1873.”

Whether the importance of this measure to the Province be considered, or its
summary dismissal in a thin Council, notwithstanding the reasonable concession proposed
by the members of the Executive having seats in the Council, there can be no doubt
that a grave responsibility has been incurred.