The Sun.
London, England, 1855-03-19 00:00:00

THE AUSTRALIAN COLONIES.

SYDNEY, Jan. 3.—Since the date of my last letter
(Dec. 15) some improvement has taken Waco here in the
state of the markets for goods of English and foreign
manufacture, the imports baying been less heavy than
for some time past. Forced sales of goods of every
description continue, however, to be made at prices
which' cannot possibly leave a margin of profit to the
exporters ; and it will be only by a cessation of.
exports for a time that any permanent improvement
can be effected. The period cannot be distant when
fresh supplies from Europe and America will obtain
remunerative rates, As a general rule, it is safest to
export goods to these colonies when the markets
here are glutted, the probability being that by—the
time they :wive a demand for them will have sprug up ;
but there being no rule viithont an exception, this
principle has of late failed of its usual effect. Perhaps
the time has not yet arrived for profitable speculation in
this any ; but we anticipate that in the course of a few
months the home manufacturers may safely consign
pods to their Australian agents. In wearing apparel
(termed " slops "), boots and s:,oes, ironmongery, and
earthenware, there are still considerable stocks on hand
ready to replenish the stores of retail dealers. Hitherto
we have had no failures of any consequence, and the
banks afford the necessary accommodation to established
traders.

At Melbourne also a corresponding improvement
is reported to have commenced, in the place of the un-
certainty and dismay occasioned two months ago by the
failure of some agency concerns of insufficient capital.
There must always be a large demand for goods and pro-
visions to supply the numerous population of the dig-
gings—a class by no means niggard in the outlay of
their earnings.
All is now quiet at the gold fields, and a commission
of inquiry has been for some time sitting for the pm,
pose of investigating the causes of the late outbreak,
and to adopt measures which shall, at the same time,
assert the rights of the Crown and secure the advantage
of the diggers.
llnei many shipping
months
small vessels
interestisiu
avoefryl light
draughtpressedconwdeitrieonin.
For
great demand for carrying the surplus of one colonial
market to another, for which freights were obtained,
and profits were good. The consequence was nume-
rous vessels were sent out from England, which were
sold at enormous prices, but the colonial markets being
now greatly overstocked many of those vessels are
thrown out of employment, and those which continue to
ply are scarcely paying expenses. The Australasian
Steam Navigation Company, which is the most exten-
sive concern, possessing not fewer than IS steam-ships,
declared a dividend of nearly 10 per cent. per annum at
their last half-yearly meeting, instead of the immense
dividends they had previously declared. Some of their
shares have in consequence been held by auction at adis-
cout of sto percent. The Sydney and Melbourne S.P.
Company made no dividend at their last half-yearly meet-
ing, owing to the very high prices of coals and labour. One
beneficial effect has resulted from the large number of
steamers that have been sent out ; the towns on the
coast are now in regular communication with the metro-
polis. Even the newly settled township of Gladstone,
at Port Curtis, the most northerly limit of the colony,
has now constant steam common cation. The rivers on
the eastern coast are unfortunately ill.adapted for steam
navigation. An attempt is, however, to be made on
two of them. On the Shoalbaven, a small steamer, the
Nora Creina, has been placed, and a company has been
formed to navigate the Hawkesbury, as far as the town
of Windsor. The river Hunter is navigated by many
powerful vessels belonging to the Australasian Steam
Navigation Company, and another company are expect.
ing three steam-boats from England for the same trade,

THE EARL OF DUNDODALD'S MODE
'OF WARFARE.

TO THE EDITOR OF THE SUN.

Sin,--Will any good to England arise out of the offer
which the Earl of Dundonald has so honourably and
in th navy, togetherforhini
zealously made to Government ?
lordship'sw ith his
known
mechanical
That is the question now being generally asked. Hig
antecedents
and po position
isl(i l tion l
, may e
obtain
attention to his scheme in the manner he proposes.
But all governments act as drag cha.ins
upon inventions -
because, inventions, if adopted, do generally ' interfere,
more or less, with existing establishments and
It must, however, be conceded that
very many schemes
have been presented to Government that are altogether
impracticable, and wh. h
ic would, if submitted by Govern-
ment to experiment, involve expenditure of the
public money. There h
a
v
a useless
en.
e, nevertheless., been ,uT
tions put down, it is '
believed, .by official discourage-
ment, that would, if they had been properly examined,
have spared England immense expenses in its military
marine for defensive or offensive purposes.
To test the sincerity of inventr,rs as to the efficacy of
their plans in the employment of destructive engines,
and the appiicati6n of exld9sivc agents in the art of war,
it would, perhaps, be judicious on the
part of Govern-
ment to examine such pans that may be offered by a
comp( tent clinin itee—a committee not wholly corn.
posed of nicht in the professitn of arms, but a committee
of
nnv.il
~,,d
nti!ita,y arictrs, civil engineer,, chemists,
:tad mechanicians. And if lit the opinion tit such com-
mittee any project submitted to examination should be
' deemed worthy of an experimental te,..t.,, by which ltd
efficiency could be clearly shown, let the niqsais (or the
carrying out of the expermici:t ho furnished by Govern-
nm,t, under a,condition .tliat the Injector be bound to
defray the expenses if he fail to do that which he should
propose to accomplish in the experiment-.
Your obedient servant,
March 16, 1855. NAUTICUS.

SHEERNESS, lISTARcx 19.—The Alban, 4 guns, paddle.
wheel bteain-ro:sel, is ordered down here to be docked,
preparatory to her departuro for the Baltic. The
Horatio, scrota steam-frigate, was taken into No. 3 dry
dock on Saturday last, to complete a survey on her
hull, &c,