only the larger capitalists have been able to hold out? Has not the high price of land, L.1 per acre, instead of condensing been the means of dispersion,--throwing the stock owners with their flocks out to wander over the undivided territory for which they pay no price, which in fact is worth no price--perhaps no great loss in that arid country where change of place is necessary in the season of drought to obtain herbage and water--a country only fit for this Tartar or Arab system of husbandry? Has the miserable Adelaide and the steril sands around it, a place scarcely capable of affording support, even under the best culture for which it is fitted, for a few hundreds, become any thing but the grave of the hopes of the many thousands who have been thrown upon this desert coast by means of the money extracted from capitalist emigrants by this “sufficient price,” or by money borrowed at 10 per cent. per annum upon the faith of the “sufficient price?” Adelaide will never reach higher than a miserable village, unless like Sydney it get an extraneous Government expenditure of several hundred thousand pounds per annum (Sydney without this would have remained a miserable village). As soon as the money spent by emigrants (not unfrequently all they possess) waiting upon the lagging surveys, or upon some plausible means of employing their little capital to advantage, shall have ceased to flow, Adelaide will appear in its natural poverty. Is the sufficient price calculated for New Zealand? Why import so many servants when it is so politic to employ native labour, and to leave the labour market open for this supply? The natives say they have a double motive for selling land to the British--the price they receive for it, and the employment they procure in cultivating it. Why take means to prevent dispersion when prudence will direct a pretty close arrangement? Why take means to procure a consolidated population as a market for agricultural produce, when a market so very favourable already exists in the agricultural produce-demand of Australia and of the South Sea Whalers, together with the British and Indian demand for flax and spars? For what then is a “sufficient price” desirable? Only for the private emolument of managing secretaries and other officials, to whom the “sufficient price” will pay a pretty good tax _in transitu_, and to be a plausible pretext for the Land Company resident in London to obtain the warrantry of the Legislature for monopolizing whole provinces of New Zealand, and for selling the land at a high price to the buyer;--no doubt thinking the buyer will be a more industrious colonist after his pockets have been emptied into this land-jobbing Company’s coffers. From some hints which have been thrown out in Parliament lately, it would seem to be in contemplation to have something like “a sufficient price” in the British colonies in the West Indies (perhaps practicable there by a sufficient demonstration of