among the 2,000 British subjects in New Zealand, who were concentrated in the Bay of Islands. Because of the population of British subjects there, officials believed colonisation was now inevitable and at the end of 1838 the decision was made to appoint a Consul as a prelude to the declaration of British sovereignty over New Zealand. And when Lord Glenelg was replaced as Colonial Secretary in late February, his successor, Lord Normanby, immediately brushed off demands from the New Zealand Colonisation Association for the royal charter that had been previously offered to the New Zealand Association. On 20 March 1839 an informal meeting of members of the Colonisation Association and the 1825 New Zealand Company learned from Hutt the disturbing news that the Government's Bill for the colonisation of New Zealand would contain a clause that land from then on would be able to be bought only from the Government. Such a move would be a catastrophic blow for the Colonisation Association, for whom success depended on being able to acquire land at a cheap price, directly from Māori, and then sell it at a high price to make a profit for shareholders and fund colonisation. The news created the need for swift action if private enterprise was to beat the Government to New Zealand. In a stirring speech, Wakefield told those present: "Possess yourselves of the soil and you are secure—but if from delay you allow others to do it before you, they will succeed and you will fail." Members of the two colonisation groups subsequently formed a new organisation, the New Zealand Land Company, with Lord Durham as its governor and five MPs among its 17 directors (in 1840 the directors were Joseph Somes, Viscount Ingestre, M.P., Lord Petre, Henry A. Aglionby, M.P., Francis Baring, M.P., John Ellorker Boulcott, John William Buckle, Russell Ellice, James Robert Gowen, John Hine, William Hutt, M.P., Stewart Marjoribanks, Sir William Molesworth, M.P., Alexander Nairn, Alderman John Pirie, Sir George Sinclair, M.P., John Abel Smith, M.P., Alderman William Thompson, M.P., Frederick James Tollemache, M.P., Edward G. Wakefield, Sir Henry Webb, Arthur Willis, George Frederick Young). The company acted urgently to fit out the Tory, advertise for a captain and surveyor and select Colonel William Wakefield as the expedition's commander. William Wakefield was authorised to spend £3000 on goods that could be used to barter for land. By 12 May 1839, when the Tory