The Express.
London, England, 1858-01-08 00:00:00

FRIDAY EYE KING, JANUARY a, AP.

penditure not authorised by the legistature at ail time 11
was incurred.

When our summary was forwarded to England, the rail-
way bills passed by the Assembly had been reined to a
select committee of the Council for further evidence. In-
stead of any advantages resulting from this step, it now ap-
pears that the examination of witnesses only canted a need-
-1 waste of time, so far u the public interest le conorrned.
If pushed forward at first, the bills would probably have
boss thrown out, but during the few weeks of delay thus
caused, the government, by some inexplicable means,
managed to gain over to their views some of the members
previously opposed to them, and them to oommand a ma-
jority, which has since passed the bill with only one amend-
ment, and that necessitates the additional expense of laying
down a double track of rails at first. With regard to the
financial part of the scheme all is uncertainty as yet. The
government is empowered to rain eight millions, sad the
treasurer is confident that he can sell debentures, or nego-
tiate loans to that amount on favourable terms. But this is
merely a matter of opinion, unsupported by evidence of say
kind.

Ls norn.—The number of assisted and unrelated immi-
grants arriving during the last few days has been very great,
and we much fear that many of those who depend on hum-
date employment will be disappointed. Although shearing
commenced two months since, and the farmers are now be-
ginning to cut their hay, there is absolutely no inquiry in
Melbourne for men capable of performing those descriptions
of work which usually require all the spare hands available
at this sewn. Now that the preliminary measures have
rued, a portion of the railway works will soon be som-
arced ; but, as far as can be judged at present,
those will not afford employment for so many men as
there was at one time reason to expect they would. The
amount of money available in the first instance will
not allow of the works being commenced ta that
scale which the colony would be justified in adopt-
ing were it certain that the fonds necmmry for their com-
pletion could be readily obtained. Nor is there any certainty
of even the moderate amount of work that we can Offer in
the first Instance will be continued for more than a twelve-
month without interruption. This will depend on the favour
with which our railway scheme is entertained in England,
for the coloniel =dimities is money matters my that no
more can be raised hers than will be =Nelda to meet the
' expenditure of one year ; so, if the funds are not forthcoming
from England we may look forward to the works being stopped
at the end of that period. Many of our readers in England will
not be prepared for such &disheartening picture of the present
stated this so-oalled paradise of the working man, and such
it really I. to those who we fortunate enough to obtain
constant employment at trades or occupations which they
understand; but difficulties are looming in the distance to
which our rulers are either wilfully or foolishly blind, and
the greater the number of persons coming to our shores with
false expectations before them, the more arduor will be the
straggle that is likely to arise. The present unpopular land
system is at the root of the evil, and the adjustment of this
ca a liberal basis will not be effected without en-
gendering animealty on both sides. Thole who
may think of coming to Australia, and have friends
and relatives here, will, of course, be guided by
their representations; but all without these warms of tsust-
worthy information should for • time be very cautious la
their movements. Any such who may determine on ani-
grating to Victoria, dependent solely on hired service, should
time their departure from home so as to arrive here between
the months of September and February inclusive. Thus no
one without friends to receive him, or independent means of
his own, should leave England for this colony during the
five or six months that will elapse after the receipt of this in-
telligence ; by the end of which period we art that our
principal difficulties will be overcome, and that all doubts
as to the steadiness and rapidity of our industrial progress
will be removed.

In the commercial intelligence of the Argus we
read:

forEM'Enke were mimed at the Customs to-day (14th),
741 ounces of gold, for shipment to England in the
City of Sydney, rid Suez, and to the Oliver Lang and
Donald 11I‘Kay, direct. The Oliver Lang cleared out with
a total of 47,442 census, exclusive of small gasoline' in the
hands of pusengees, to the following parcels -Union
Bank, 10288 ounces. Bank New South Wales, 7,600 do. ,•
London Chartered Sink, 7,452 do.; Enela Scottish, anti
Australian Chartered Beak, 6,920 do.; Bank of Au/tribune,
6,263 do. ; Bank of Victoria, 6061 do.; Dennistoun Brothers
and Co., 4,469 do. • Mackanßaines, and Co., 140 do.; M.
Evans, 106 do. ; sundry masl.l shipments, 260 de. The num-
ber of fine yowls on the berth bas quickened the demand
for the metal, but prima an not ruling so high as at
the date of our Last summary-the banks having,
by mutual arrangement awarmtly-given over com-
peting. Tho Melbourne bullion-brdters are buying at
the following prices :-31. 16s. to 31. les. 3d. per ounce for
Castleman and fisnaterst ; 31. 16s. 6d. to 31. 16a. 9d. for
Mount Korong ; 31. 17e. to U. 17s. 6d. for Deadly, Mary-
borough, Fiery Creek, sad Avoca; 81. Nu to 3L 17e. 6d.
for Ararat and Figment Creek •; 17s. 6d. to 31. 19s. for
the Ovens • and 31.185. 6d. to 31. 19s. for Barret.
The quantities received by escort on Friday lid were folly
up to the average of the last thirteen weeks.
The shipments daring the week have been:
Ozs.
By the Oliver Lang, for London
Austral, for London
Previous shipments, corrected by comparison with
the entries passed at the Customs
Total shipments for the year
Or, 98 tons 6 cwt. 2 qrs. 2211 n 10 mums ; the value of
which, at 41. per ounce, amounts to 9,440,9261.
It is calculated that we have now generally a year's con-
sumption on hand of imported goods, and that our present
monthly receipts are equal, on the average, to Az we' con-
sumption, so that Mocks Ere increased every month,eks instead
of being diminished or merely maintained. It would appear
at first sight that the ruinous toes which so mad a system of
commerce, if continued, must necessarily cams to fall some-
where, would fall on the shipper • but this is not the ease.
The colonists are large holders of goods, and a commercial
crisis would entail grievous direct pecuniary loss on colonial
interest., besides that which would follow indirectly from the
entire disruption of trade.
The money market has been Increasing in tightness since
our last summary wee issued. Under the Impression that
shipments from Great Britain mug fall off, speculators have
been induced to buy when goods have been offered at tempt-
ing rates. They have procured advances, in the hope of
realising in a rising market, but they have held on until they
have found a money market tightening over their heads, and
sales impossible except at a ruinous loss.
The advances mounted up from 5,106,9281. during the first
quarter of 1856 to 8,194,8601. daring the third quarter of
1857. The banks have determined to permit no further In-
nen* to take place, and their sudden carrying out of this
determination has mused much of the tightness which now
prevails. In this condition of off in there Is a great 0•11 for
' caution in future Mandel operations. There hairs bees
avail failures since one last summary, but none of sufficient
importance for separate mentkaa. The 4th of the month,
which was rather a heavy one for November, passed off
well, but there is still a great demand for advances. The
banks now charge 7 per cent for discounting bills
having under 96 days' currency, and 8 per cent.
minimum for those having over 95 days to run.
For renewals and for overdrawn accounts 10 par
cent. is charged. Drafts are issued on England at If
per cent. premium at 60 days' sight; for amounts under 501.
at 2 per cent, premium at 30 days' eight. Bills against gold
are purehasod at 1 per cent. premium. Freight on gold,
direct steamers or sailing vessels, 3fd. per moos, deb
in London • Insurance. If per cent ; by the overland route,
f per oust.-that is, 7d. per ounce as nearly as passible ;
insurance, to 1 i per cent.
The net addition of the population of the colony by the
seaboard during the year, up to noon to-day, corrected by
comparison with the ofilcia.l returns of the immigratiou de-
partment, has been 38,301 souls.
The quantity of wool brought down has been small se yet,
the season being a late one. The condition, however, is
good. The clip will be a fair one ; but the total quantity is
not expected to be greater than that of last year. The prices
menet are prices that have been ruling, but anything like
an attempt to force realisation would show a return male of a
vary different character. The stocks of some goods are
enormous. To particularist-of spirits, generally, we have
about a year's consumption ; butter is being re-shipped, both
la sound condition and, it is reported, as tallow, while some
11.000 firkins are on their way to this port; oats are plenti-
ful in the warehouses; the harvest is large and abundant,
sad ready for sickle, and yet we hear of ad vices of invoices
on the way to an extent almost beyond belief.

COLONIAL HORSES FOR THE INDIAN ARMY.
(From the Sydney Morning Herald, Nov. 10.)

When the fearful condition of our fellow coun-
trymen and women in India became known in this city, and
the went of horses for the Indian army was understood,
efforts were at once made, chiefly by the earnest exertions of
Mr. Gideon Lang, M.L.A., to form a committee If the
pupae* of collecting Information in respect of this importeat
matter. The consequence of this movement was, that be-
fore Colonel Robbins' arrived in Sydney, eirculare sad letters
were sent to all parts of the colony. In reply, oars of
horses to the extent of 2.500 were in the hands of the com-
mittee, besides letters supplying information from large let.
tiers and small farmers, and offers of gratuitous paddocks
from various parties in the colony. The whole *okay had
been divided into eight districts, each containing several cen-
tral tomes. The Sydney Home District, comprising the
meaty of Cumberland ; the Maitland District, being the
lower part of the Hunter, also the William sad Paterson
rivers• the Southern Road beyond Camden; the Western
Read beyad Penrith; and the Northers Road from Sin-

gleka upwards; the seaboard South; the seaboard North ;
and Moreton Bay. Ica each district such preparations have
been made, that Cokostßolabins can commence operations in
ewe successively, without a moment's delay, with full in-
formation and wffllng assistance. He commenoed purchas-
ing at Parramatta, and then visited Windsor, Penrith, and
Biesigella, leaving Camden, Appin, Campbelltowu, and
Liverpool still to be visited in the Home District. He has
got above 60 horses, besides about 30 bought in Sydney,
which is most promising, considering the difficulties of •
commencement. It wee not known exactly what style of
horse was meant, or what price would be given, and it w•e
industriorwly circulated that be took only first-rate horses, and
was offering no more than 121. • head, which prevented great
numbers from coming forward. The horses purchased are
strong and active, fit .to mount a heavy stock-keeper; the
price given, we understand, has been from 251. to 4111. A
good many screws and weeds were brought forward, but the
sharp men learned very soon that it was no use trying to
"come over the old colonel," and there is no doubt when
he goes over the home district again, he will have fewer
screws and • greater number of suitable horses offered.
Colonel Robbins proceeds next week to the Hunter, and
there is no doubt of his having from thee* two home districts
full cargoes for the Undaunted steamer, and Monica clipper
ship, which he has chartered, and which will be dispatched
the instant they are fitted. These will carry to our country-
men nearly 600 suitable horses thoroughly breken in, upon
which dragoons may be mounted and made available even in
this campaign, which was the original object in establishing
the association. Colonel Robbins wants 1,400 horses more,
and if they are got good and at • reasonable price, the go-
vernment of India will take the same number every year.
The Undaunted will leave this port with the first cargo
in a few days.