Joseph Jacobs and Goodman Lipkind

“ Sir Julius Vogel's principal achievement as a colonial statesman was the discovery that the savings of the mother country could, with mutual advantage, be obtained by the colonies and applied to the construction of railways and other public works. ”

“ His scheme of public borrowing for the colony of New Zealand was put into effect in 1870, and within the next ten years the colony borrowed £22,500,000 at diminishing rates of interest, the population rose from 250,000 to 500,000, the extent of land under cultivation increased from 1,000,000 to 4,000,000 acres, and the value of exports from £500,000 to £1,500,000. ”