G. F. Young, Esq.

—A letter from Harington only now informs me that the Committee of the New Zealand Co. will on Thursday nest consider the reply of the Company to Lord Grey on Cowell's Report. I shall not be able to meet the Committee, and therefore let you know my present thoughts on the subject.

I thoroughly agree with those (probably all the Directors who have attended to the subject) who think that we cannot let the Report stand without a protest. I do not despise the Beit and Nelson question by itself, except when I compare it with what has grown, is growing, and must grow, out of it unless we get rid of it quietly. There would, for example, be an end of this Church Colony project (which I assure you looks very well), if Mr. Godley should come among us in our present state of disagreement with the Commissioner.