_1st_, As soon as what is considered a sufficient number of
shareholders shall have subscribed, that a general meeting be held of
the shareholders, or their accredited agents, to choose a Governing
Committee or Directory,[9] in which will be vested full powers to
carry on the enterprize in the most effectual manner. This Directory
will purchase or hire a vessel or vessels, to sail for N. Zealand
as early as possible, and as soon as a sufficient number, say one
hundred shareholders, are prepared to go out: The Directory having
discretionary power to choose and limit those going out, in case the
number coming forward at the time of sailing exceed what the vessel or
vessels can conveniently carry, so that those on the first expedition
may be as masculine and efficient as possible, but in no case to
separate the members of a family without their own consent.
_2d_, That previous to the sailing of the first expedition, in which
the Directory and Company’s officers will go out, a Home Director,
Deputy, Secretary, and Treasurer shall be appointed, forming a Home
Committee, along with a Head of Department and Deputy Head for each
district. This Home Committee to act under the directions of the
Foreign Committee or Directory, in managing the concerns, and sailing
of the expeditions which follow;--the Foreign Directory having the sole
management abroad in laying out the capital of the Company, and in
directing matters generally.[10]
_3d_, That, previous to the sailing of the first expedition, the amount
of the shares be ascertained, and the first subscription closed. A
second subscription to be immediately commenced, for further investment
in New Zealand, under the management of the Directory in New Zealand,
who will purchase territory with the second and further subscription
funds, as soon as the funds are sent out.
_4th_, That, as soon as the site of the principal town, or first
settling station, shall have been chosen, that one-half or one-fourth
acre of town-land, and from five to ten acres of suburban-land, for
gardens, be divided to each share, for a commencing nucleus, and that
the country lands be afterwards divided when required,--if possible,
100 acres of good land to be apportioned to each share. The whole to
be drawn for by lot. A shareholder having several shares, to receive
the whole wherever his first lot may happen to fall. And, as matter of
conveniency in occupying and enclosing, and also as some recompense for
their pioneering labours, the first expedition shall have the first
choice of the town and suburban land, but not of the country land.
Any residue of territory to be disposed as a general meeting of the
shareholders shall determine.
_5th_, As soon as the first expedition shall have located itself, and
made purchases to a certain extent, that the speediest intimation
of this be sent home, and all of the shareholders at home, that are
in readiness, to go out with the least possible delay, in a second
expedition, if the Home Committee has not in the mean time thought it
expedient to send out the second expedition sooner: To be in readiness
for which latter arrangement, the first expedition will have notice
waiting at the Bay of Islands, where some of the intending shareholders
have already extensive possessions, of the place of its rendezvous, by
which the second expedition may be enabled to reach it.
_6th_, That after the expedition shall have located itself, a certain
per-centage on the share, or land-tax, shall be levied, or a portion
of the undisposed land be sold, to procure medical treatment to the
natives, and, if necessary, to keep up a small hospital, where the
natives may obtain food and lodging during their medical treatment.
The natives to be treated with untiring kindness, and in every way
encouraged to obtain property by provident industry.
_7th_, That the actual necessary personal expenses of the officers of
the Company be paid to them; the vouchers for which must be given in to
the Secretary at each general meeting, for the time previous, in order
that the meeting may examine and sanction the same. That the reward or
payment for the public labours of the officers be determined by the
shareholders assembled at the general meetings, it being understood
that all public officers, where any _considerable_ amount of labour
is required, have a fair and sufficient remuneration for the time of
service, but no retiring salary. That these rewards of officers for
labour performed be given in land in New Zealand, or in money, at the
option of the shareholders.
_8th_, That each shareholder and emigrant of the Scots New Zealand Land
Company, before embarking, give his solemn pledge that he will obey the
Committee of Government in all things not opposed to the common rules
of morality, and in all duty which free citizens owe to the government
of their choice, until such time as the British Government shall have
assumed an energetic governing control over that part of N. Zealand.
That in case any shareholder will not submit to the directions of the
Committee, at any time previous to the individual possession of the
land, that he or she shall be obliged to sell out of the Company,
within a time to be fixed by the Directory; and if subsequent to the
possession of the land, that the Scots New Zealand community break off
all intercourse and social connection with this refractory emigrant.
_9th_, That all above fourteen years of age carried out by this Company
pledge that they will not, directly or indirectly, purchase from the
natives any lands till the Company shall have made an end of its
purchases in investing the Company’s first funds, or at least till one
year after the arrival of the first expedition, should the funds not be
sooner expended. Any one breaking this pledge, to be held infamous, and
beyond the pale of society.
_10th_, That every male above fourteen years of age be regularly armed,
at his own, the Company’s, or the British Government’s expense, with
such arms as the Governing Committee may think most fitting; submit to
such military training as this Committee may think necessary, and be at
all times ready to act in defence for the public safety. That all who
go out pledge to this.
_11th_, As a chief element in the prosperity of a country is secure
and unfettered possession of land, and easy transmission, that the
tenure or condition under which the land shall be held, and mode of
conveying it, in order to be of the simplest and clearest description,
be allodial (without any superior), and _The Book of First Allotment_
made out by the Register Keeper and the Surveyor be of itself
sufficient evidence of the title. The lots to be described in this Book
as definitely as possible; and the lines of demarcation or marches
to consist of natural divisions, such as water-courses, inclination
run or shedding of water, line of rocks, &c.; and, when these are not
convenient, that marks prominent to view be stamped upon trees or
earth-fast stones, or pits be dug, by the Surveyor. That this Book
of First Allotment or Register Book (kept in a fire-proof apartment)
have a page opened for each division of land, describing its name,
boundaries, size, owner, in the fewest words possible. In the case of
transfer, or borrowing money upon it, the same to be recorded, in the
fewest words possible, on the Register page, and signed by principals
and two witnesses: The lender, on receiving the money back, merely
signing his name as receiver, attested by the Register Keeper and
witnesses, and no bargain respecting land to be binding till registered
in this Book. That possession, living witnesses, and the Register
Book, be the only necessary title: But, in order to provide against
the possible destruction or loss of the register book, the holder,
upon requesting it, and paying the necessary cost, to receive from the
Register Keeper a copy of the register page, describing his own lands
down to a specified date, written upon a paper stamped by a peculiar
die, used for this exclusive purpose, and signed by the Register
Keeper, attested by witnesses.
In connection with the Register Office, a Bank might be formed, based
upon the land-property of the shareholders, each of these landholders
being allowed to draw out notes to the value of two-thirds of his
land-shares, or more should the land rise in value, forming a currency
of heritable bonds. The notes to be payable in gold or dollars, upon
giving six months’ notice, the same as with heritable bonds here.[11]
This would prevent any mischievous run upon gold, and at the same time
keep up the paper to its proper value, affording a sufficient paper
currency, and facility of borrowing on land-property, so important to
the prosperity of the country, and so necessary to keep up the mental
acumen and wisdom of the holders.--The regulations for this system
of currency, and for many other things, cannot well be detailed in a
Prospectus.
* * * * *
In the mean time, this meeting recommend to intending subscribers
in every district or town which any number of intending subscribers
reside, to form Branch Societies, and appoint a Head of Department or
Committeeman, who can communicate with the central head, or attend
general meetings, as the representative of his brethren. Persons
wishing further information, or who wish to subscribe for shares, to
apply by letter, post paid, to the Chairman. The applications for
shares to be in the following form. The letters requesting shares not
to be binding upon the subscribers, unless 200 shares shall have been
subscribed for by Martinmas, 22d November 1839.
To PATRICK MATTHEW, Esq. Gourdiehill by Errol, Scotland.
(_Insert here the date and your residence._)
I hereby engage to take (_Insert here the number of shares_) of the
Scots New Zealand Land Company, conform to the terms specified in
the Prospectus issued by a meeting of intending shareholders, held at
Perth on 24th August 1839, and signed Patrick Matthew, Chairman.