• ' 67 



A discussion ensued, and the general opinion appeared to be that 

 planting the sand banks was necessary. It was further mentioned that 

 great injuiy was caused by the settlers allowing their cattle to run upon 

 the sand, thereby breaking the firm upper surface. 



The adjourned debate on Mr. S. Hawthorne's paper on "Co-operation" 

 was resumed by Mr. Bathgate, who said that he supjiorted what had 

 already been so well put forth by Mr. Hawthorne, but considered that 

 co-operation had its origin at a date far earlier than that which that 

 gentleman had ascribed to it. 



Mr. Stout, in rei)ly, read a lengthy speech, and quoted extracts from 

 various wiiters on political economy, contending that Mr. Hawthorne's 

 ideas, as enunciated in the paper, were radically unsound. 



Mr. Langlands agreed with Mr. Hawthorne on the subject of 

 co-operation, which he thought was sound in a commercial point of view, 

 and not inconsistent with the principles of political economy ; but he 

 disagreed with him on the question of wages. 



The E,ev. D. M. Stuart thought Mr. Stout had come to the conclusion 

 that co-operation was a good thing, but that the illustrations given in 

 the paper were unsound. 



Mr. Hawthorne replied, and as there was no other business to be 

 brought before the meeting, it adjourned till the second Monday in July. 



Annual Meeting. July 12, 1870. 

 The Rev. D. M. Stuart in the chair. 



ABSTRACT OP REPORT. 



In presenting the first annual report of the Otago Institute, the 

 Council believes that it can fairly congratulate the members on having 

 creditably laid the foundations of a Scientific and Literary Society in Otago. 



During the past year there have been held ten general, and ten 

 Council meetings of the Institute, at the former of which papers 

 were read. 



All those read during the year 1869 have been published in the 

 second volume of the "Transactions of the N"ew Zealand Institute." In 

 accordance with the resolutions of the Institute, the Council has commenced 

 a series of observations on the growth and culture of the New Zealand 

 flax (the result is, however, at present too immature to do more than 

 refer to the fact here) ; and much information has been procured on 

 the subject of the disappearance of the whale from these seas, and on the 

 subsequent falling off of the fisheries. 



