The Express.
London, England, 1853-08-15 00:00:00

VICTORIA.

Melbourne papers to the 15th May notice the con-
tinued prosperity of the colony, and the state of
eostacy into which it had been thrown by the pub-
lication of the despatches of the Colonial-office
recognising the principle of self-government as the
future coastitution of the colony. The price of gold
was on the advance, and in consequence of a rather
short supply, an increased demand had been done as
bigk as 31. 16s. 9d. per ounce, a rise of 6d. per ounce
tee days. Fodder was very scarce, and the go-
veronmot were buying up all they could get at 401.,
and carting it up themselves to the diggings. Floor
was selling at 301. per too; potatoes, at 201.; rice, at
101. per ton. There was a groat demand for gold fee
shipment to England per Harbinger, which had ow
casioned a rise in price. There was no news
of much interest from the mining dis-
tricts. Greet results were expected from the
*lvor diggings. Some very splendid specimens
of gold and quarts had been obtained from that lo-
cality, one especially weighing about 160 ounces.
The Melbourne Morning Herold attempts to account
for the falling off in the quantity of the gold raised
thus :—" A gentleman who has just returned from a
visit to the principal diggings, and on whose observa-
tion and judgment we can rely, affirms that the
amount of gold now being raised cannot be less than
100,000 ounces per week. He accounts for the great
difference between this yield and the quantity
brought to Melbourne by the esoorts, by the fact
that the old and more successful diggers are hoarding
the gold, considering it quits as valuable as any bank
deposits or other value they may obtain by selling
it; and waiting their chance of high rates and a
prospect of good investment of the proceeds before
they part from it."
By the Shanghai, arrived at Singapore, advises
and journals had been received from Melbourne to
June 8, on which day the elections for the city cow
menced, the candidates being Messrs. Allen, S
Hodgson, Guthride, Sargood, Longlands, ant:t:
phy. Three new members were required, and the
show of hands was deolar,d in favour of Messrs. Sow
good, Longlands and Murphy. A poll was demanded
for Alderman Stephen. The clipper ship Maras
Polo had arrived in Hobson's Bay, having made*,
run from Liverpool in 75 days, whilst the challenged
steamer Antelope had not arrived up to the time of
the Shanghai's departure. The weekly produce of
gold in Victoria was on the increase; the quantity
sent down by escort for the week ending May 27 was
30,966 ounces. The price of gold had advanced, in
consequence of the shipments to be made by the Marco
Polo. We annex the latest commercial and gold
news.

The following is Mr. circular, estracted
from the Argus of the Bth of June :
The inquiries for gold during the week, for shipment per
Kent and Marco Polo, have far (weeded the supply, and,
in consequence, an advance on last week's pries hes been
maintained. The market opened at 76e. 6d., and left off at
775. The banks having raised the premium on their drafts
to 2 per cent., has also had the effect of starting the pries.
There is nothing new to report from the various gold
fields. The winter having fairly set in, the diggevs are at
work vigorously. A new field is reported on the Wimmers.

The statement is that it is a second Bendigo, but this waste
confirmation. M'lvor goes on moodily iesereuing. Ben-
digo still takes Ilse lead u to quantity.
The amount of specie received by the Ann Cropper,Marco
Polo, and Aden, is 289,0001. for the week.
The government escorts brought this week from os.
Mount Alexander and Bendigo 18,408
The Ovens
Bslasrat (including that left at Livelong)
M'lvor 3,581
The Melbourne Escort Company brought from
Mount Alexander and Bendigo 4,794
M'lvor 761

Gold slipped from Victoria is 1863 943,610
Per Kest, to London
Per Renown, from Geelong to ditto 10,366

930,258

Or 40 tons 16 cwt. 3 qrs. 13 lbs. 2 on., at 751. £3,675,967
Exchange on London, on drafts against gold hypothe-
cated, 2 per cent. discount, and from 50s. to 60s. advanced
by the banks. Freight of gold delivered at the buili in
office, London, 41d. per. on. Insurance, 21 guineas per

Under the head of Commercial Intelligence, the
Argus of the Bth June says :

Last week the price of gold ruled at 765., and an im-
pression prevailed that it would recede ; but during the
week it has steadily risen till it now stands firm at 775..
with a full demand and so empty market. The enormous
quantity of goods. for which remittances have been re-
ceutly sent home, combined with the needful returns for
. .

consist. uments to our market, have induced the banks to in-
crease their rates of exchinge on London, and the conse-
quence has been the rise of 2 per cent., announced on Sa-
turday, which is now charged by all the banks for their
drifts on England. ibis also, as we mentioned on Satur-
day, has affected the gold market, which has not been
higher or firmer fur a considerable period. Rumour,
which is always busy under such circumstances, has
spread a report that there is even a probability of a fur-
ther rise upon the exchan :es ; but there seems no good
Inundation fur such a report, and we may add, no likeli-
hood of any such rise taking place, at least for a time.
While everything else in commercial circles seems to be on
the decline, laud apparently maintains a position of unpre-
cedented and unexpected value.

Fro:u the Price Current of the same paper we ex-
tract the following as to the state of the markets
relative to the immense supply of breadstuffs :
When the difficulty of storage is universally discussed,
the question of a glut of goods must naturally arise ; and
though such a possibility is vnerally considered as distant
arid improbable, there are some description of articles in
which it is not, in our opinion, at all unl Rely. Colonial
produce has been perhaps the least affected by the recent
depression, for we are aware that our finest flour has
fetched even higher prices than those we quote. But
already symptoms of decline, even in this article, are appa-
rent. American flour, however, sod other breadstuff., are
beginning to be seriously affected, and must dealer* still
further, if the additional quantties anticipated shall eon-
tines to arrive. And it these supplies, generally so suita-
ble and so well .elected, are likely to fall, what will become
of those similar but very inferior articles, which are pour-
ing in upon us from Calcutta and the other eastern ports ?
We have already adverted to this subject, showing the
magnitude of the importations from that quarter, importa-
tions which we regret to observe are not only ridiculous in
extent, but unsuitable io kind and quality.
SOUTH AUSTRALIA.
Adelaide newspapers, which had reached Singa-
pore by the Sophia Moffatt, to the end of May, notice
the arrival at Adelaide on May 15 of the Peninsular
and Oriental Company's steamer Shanghai, with the
English mail of May 8. The Shanghai was ex-
pected at Adelaide on her return to Singapore about,
the end of May, but had not arrived there up to the
Ist June, the day on which the Sophia Moffatt sailed.
The colony of South Australia, like the sister settle-
ments, was in a state of ecstacy at the prospect of
self-government—the enthusiasm of the colonists
knew no bounds The concession had manifestly
taken them by surprise, and they were at a loss for
words to express their gratitude; but in the midst of
their rejoicings they very strongly deprecated
the " retention of the abhorred feature of
nomineeism." On the Queen's birthday, the
Lieutenant-Governor held a levee, on which
occasion he was dressed in the uniform of a Lord-
Lieutenant. After the levee, the usual allowance of
bread and blankets was distributed to the natives.
There were 24 men, 15 women, and 12 children of
the Adelaide, Mount Barker, and Lake Bonney tribes.
The men received four loaves each, the women three,
and the children two. The blankets were chiefly
given to the relatives of the pupils at Port Lincoln.
The Legislative Council was prorogued to the Ist ot
July, and there was a rumour current that a further
prorogation would take place, which had calmed some
dissatisfaction, as the colonists were anxiously looking
for what was to be achieved by self-government. A
general complaint prevailed ot the distressing ravages
of the influenza, which affected both men and ani-
mals.