… To obviate the difficulty of keeping> labourers from becoming very soon landowners, Pottinger proposes to oblige all persons to procure a license to trade or to occupy land. The cost of the license to be £5.
"December 23rd … Called on Norman and had a long conversation with him on the plan, and finally on his undertaking to raise the necessary money and to become agent for the colony. I mentioned 8 per cent, as the interest I recommended to be paid, and pointed out the extent of shipping business which he would have if he adopted the proposition.
"December 24th … Saw Hanson's proof, and found that he and Pottinger had determined to print Hanson's paper instead of Wakefield's. The reason Pottinger assigned for this is that the question of drought is discussed in Wakefield's paper, which is unnecessary, as it is not believed that the circumstance of drought influences South Australia … Dr. Lang called and reported that land in the Bathurst Plains lets for £1 an acre per annum, and that a friend of his purchased 4,000 acres, 150 miles from Sydney, for 15s. per acre.
"December 26th … The first meeting of the Provisional Committee was held; Grote in the chair, and present: Clay, Mills, Romilly, Hawes, Melville, Rowland and Matthew Hill, Poebuck, Norman, Pottinger, Gowan, Torrens, and Southwood Smith. Everything went off as well as possible. Grote kept the meeting to business, and made an admirable chairman. The prospectus was passed, with the addition of Clause XIII … Thus the first step, upon which so much depends, is taken, and that without fear. … "
The prospectus of the association, which had been the subject of so much labour and care, ran as follows:—
