[36] "I was the principal founder of the Company and the principal Managing Director from the time of its formation till the summer of 1846, allowing for intervals of absence occasioned by illness and other occupation at a distance from England. My incapacity changed the whole character of the direction of the New Zealand Company's affairs, which then fell into the hands of a few persons in whose minds sound principles of colonisation and colonial government were as nothing compared with pounds, shillings, and pence."--Evidence of E. G. Wakefield before a New Zealand Parliamentary Committee on New Zealand Company's debt--Sessions 1 and 2. [37] For the text of the above Memorandum I am indebted to Mr. R. M'Nab, who copied it from the original in the Record Office, London. Mr. Stephen, who wrote the Memorandum, was, at the time, an officer of the Church Missionary Society. [38] Lord Normanby became Colonial Secretary on February 8, 1839. [39] _Vide_ his letter to Lord Palmerston, December 12, 1838. CHAPTER III FINDING A WAY The favour of Ministerial selection for the onerous task of bringing New Zealand within the realms of Britain fell upon Captain Hobson, because his record in the Navy had justified the opinion expressed of him by Sir Richard Bourke, that he was an experienced and judicious officer. Moreover, his visit to the country in the _Rattlesnake_ had given him a local knowledge of which few men of eminence and character were at that time possessed. There is no reason to suppose that the appointment was in any way a party one, and except that the new Consul was the victim of indifferent health, it was probably the best that could have been made at the time, its greatest justification being the complete success which attended his mission up to the time of his early decease.[40] Captain Hobson left England in the H.M.S. _Druid_ commanded by Lord John Churchill. He went out fortified for his task by a series of instructions which left little doubt that if Ministers had been slow to move, they had at least endeavoured to take a statesman-like view of the position when circumstances compelled them to act, the breadth of which can be best understood from the instructions themselves. After adverting to the social conditions existing in New Zealand, with which Captain Hobson was perfectly cognisant and which Lord Normanby assured him the Government had watched with attention and solicitude, the Colonial Secretary proceeded to explain the attitude which the Government had adopted in regard to this branch of Imperial policy.