On six separate days through May and June 1840 Treaty signings were held in the South Island, largely down the east coast. However, Hobson had already declared British sovereignty over Te Wai Pounamu on May 21 on the basis that it was terra nullius, the same justification for the annexing of Australia. Apparently it wasn’t logically inconsistent to claim that and also to seek a Treaty with the inhabitants, or at least, everyone was willing to pretend it wasn’t. (It was much easier to pretend in the south – the land wasn’t as good, which meant a lower population and more movement around territories that the Crown could later claim were wastelands as they didn’t have a permanent settlement.)
Land sales in the south occurred between 1844 and 1860 (except Stewart Island, which was bought in 1863) with the Crown buying up huge tracts of land at once. The Canterbury block, for example, was eight million hectares for which they paid just two thousand pounds – one third the cost of Stewart Island. Rather than negotiating fairly, agents such as Commissioner Kemp used threats to buy the land from rivals or to use force while promising that one tenth of the land purchased would be set aside as native reserves. This “one-tenth” was reduced to four hectares for each person, generally of poor quality land. When it came to buying Banks Peninsula, the local chiefs refused to sign. The reserves would not be enough even for subsistence. So instead, the Crown simply passed the Canterbury Settlement Act which basically went “Yeah, all this? That’s ours now.” (Again, they still tried to get Kai Tahu to agree to the annexation for another seven years.) Hamilton was the only agent to really express any hesitation over what they were doing, on the basis that two years ago a 12,000ha piece of land in the area had been sold for fifteen thousand pounds, which he was being instructed to pay just two hundred pounds for. Eventually he sold himself the justification that the rest of the land was valueless to Māori, whereas Pākehā settlement would bring benefits of civilisation and trade.
Not that the Māori could do much trade. Kai Tahu and the other Te Wai Pounamu iwi were left basically landless in an area where the big money was in sheep farming, something that doesn’t need as good pasture as the cropping and dairy farming in the north but which needs a lot of it. What reserve lands they did have left were controlled by the land commissioners, who could lease it out for dick all or sell it off at their discretion.
Ultimately the Crown paid just under fifteen thousand pounds for the entirety of the South and Stewart Islands through the use of threats, bullying and outright theft, leaving Māori dispossessed and impoverished while Pākehā settlers got rich on the proceeds of what Mantell had called “an uselessly extensive domain”. European cognitive dissonance had won the day.