Company shall have acquired a corporate character by charters from the Crown, and shall thus be enabled to borrow and give proper security for money, the Com pany will be prepared, as it is especially empowered to do by its charter, to advance loans to the community for public works, roads, bridges, and the like, by which means it will act the part of a great resident capitalist, and find employment for any supposable body of surplus labourers. The value of land not depending merely on its situation or its productive qualities, but also, and in a much greater degree, on the amount of its population, or the number of mouths to be fed, it is an object in the formation of new colonies to sell the land at a price sufficiently high to admit of a large expenditure in emigration. By the practical application of this principle, it is manifest that an inducement is created for the emigration of the capitalist as well as of the labourer, since his own act of investing money in the purchase has already provided the means of sending out a proportionate amount of labour to swell the general mass and increase the demand for the productions of the earth. Such are the fundamental truths on which systematic colonization is founded, and, if we except the powers of Steam, there is no discovery of modern times calculated to affect society in a greater degree, or more beneficially. Even Steam must yield precedence in one respect to systematic colonization, for whilst the tendency of the former is to lower the value of human labour, the province of the latter is to open up new and advantageous fields of employment. On a recent public occasion, the undertaking of the New Zealand Company was justly described by a royal Duke as “ benevolent and