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The New Zealand Journal, Saturday, February 8 (1840)

When the colonization of South Australia was first announced in Sydney, the jealousy of that colony was much excited. The colony was called the Bubble Colony, and its certain failure was confidently predicted. This language was held long after the success of the colony was placed beyond a doubt, and even now some of the most strenuous supporters of convictism are unwilling to admit what is so obvious to unbiassed minds.
The sober-minded portion of the people of Sydney, however, have opened their minds to a conviction of the truth. They acknowledge the soundness of the principles on which South Australia has been settled, admit freely that she has succeeded; and now that another colony, founded on the same principles, is announced to them, the Sydney Herald, an influential paper, expresses its belief that New Zealand, under the auspices of the company, will go on and prosper:—
"It will be seen, "says the Sydney Herald," from an article in another part of our paper of this day, that a company has been formed for the purchase and resale of lands in New Zealand, and the promotion of emigration thereto. As matter of fact, the proposed settlement at New Zealand will be of material benefit to this colony. The settlers there will become purchasers of our sheep and cattle; and our stock-holders may, therefore, be congratulated upon another prospect of advancement being held out to them. The farmers may now look-forward through a cheering vista. Favourable seasons may be fairly anticipated. Markets for their excess of sheep and cattle are daily increasing at our very doors. Why, then, should they not "go on and prosper?" That they may do so we hope; that they will do so we believe."
The Sydney Gazette, also, contains some observations on the effects likely to be produced on the future condition of New Zealand by the operations of the Company. It will be seen that they are couched in a tone of liberality.
"It is more than probable, that before this time the Tory, with Colonel Wakefield and the various subordinate officers of the Company on board, has arrived at her destination. New Zealand, therefore, must henceforth be regarded in a new aspect. Hitherto that country has presented to the eye of the observer the very singular appearance of a colony, and a prosperous one, existing without government and without laws, and formed of the most heterogeneous materials. With but few exceptions, the White population was composed of outcasts from among the outcasts of Great Britain—runaway convicts, swindlers, and thieves, from New South Wales and Van Diemen's Land. The state of society was consequently low—low even beyond the power of imagination to conceive—so low that even the prospect of gain, which a residence there offered, tempted but few respectable people to avail themselves of it. The commencement of the New Zealand Land Company's operations, and the gradual introduction, under their auspices, of a virtuous peasantry, must effect such a change in the tone of society, as will entirely do away with the obstacles which have hitherto presented themselves to respectable parties wishing to effect a settlement there.
"New Zealand is fitted by nature to become the garden of New South Wales: the fertility of the soil, the excellence of the climate, and above all, the regularity of the seasons, eminently combine to fit it for an agricultural country. But it is only as an agricultural settlement that New Zealand can flourish; as a pastoral country it can never compete with New South Wales. The experiment has again and again been tried, and the result has invariably been the same. The climate is too moist for sheep-pastures; and the fine wool, for which New South Wales is remarkable, speedily deteriorates in quality on the transportation of the sheep to New Zealand. The new colony consequently can never come into any hurtful competition with New South Wales: on the contrary, the settlement of the former, must be highly conducive to the advancement of the latter; for after the colonization of New Zealand, New South Wales can never again be exposed to the same risk of a famine which was lately threatened.
"These remarks are not the result of mere theoretical speculation. We have on seven different occasions visited New Zealand, and consequently possess an intimate knowledge of the capabilities the country possesses; and we have no hesitation in giving it as our opinion, [that the chance of success of the New Zealand Land Company over the South Australian Colonization Company is ten to one in favour of the former, and that as a field for emigration from the Mother-country, New Zealand is infinitely preferable to South Australia."

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