The Sun.
London, England, 1855-12-29 00:00:00

AUSTRALIA.

LIVERPOOL, FRIDAY,

By the Royal mail steam-ship Donald M'Kay,
Captain Warner, of the " Black Ball" line, which
left Port Philip Heads on the 3d of October, we
have advices from Melbourne to the 29th, and Gee-
long to the Ist of October. She has brought
104,000 ounces of gold, 270 passengers, 800 bales of
wool, 7,130 bags of copper ore, and 83 casks of
tallow.

The Royal mail ship Champion of the Seas, be-
longing to the "Black Ball" line, with the mails of
the sth of July, arrived at Melbourne on the 26th
of July.

From the summary of Australian intelligence
published in the Melbourne Argus we extract the
following :
"For some months past we have been under the ne-
cessity of giving rather a gloomy account of affairs, both
commercial and social, in this country. The colonists
have passed through a crises of no ordinary character.
During part of 1852 and up to the middle of 1354 a sort
of madness possessed both the Government and the
people. Extravagance and dissipation were the
order of the day, and a period of severe pressure in
our financial affairs was the natural result. Fortunately
we have passed through this period without any serious
calamity, but have earned a great deal of valuable expe-
rience, for which we have dearly paid. We firmly be-
lieve that we have seen the worst, and that henceforth,
for a long time to come, we shall be able to transmit ac-
counts of a gradual and solid improvement in the finan-
cial and industrial condition of the colony.
" The month of September has been one of continued
prosperity, so far as the yield from the various gold fields
is concerned. The amount sent down by escort are
steadily on the increase, aid the reports of our own cor-
respondents, and of gentlemen who have recently visited
the diggings, and whose judgment can be relied on, lead
us to believe that this increase will be maintained. The
season has been peculiarly favourable to the miner. Water
has been abundant, but not in excess, as is generally the
case in the winter months, and the weather has never
been so severe as to interrupt the operations. To the
opening up of the quartz reefs, the supply from which
would appear to be inexhaustible, and to the separation
of the metal by means of machinery, the present satis-
factory state of the escoi t returns must, however, be
chiefly asoribed.
" Subjoined will be found the escort returns for the
last 6 weeks. These may be taken as a very fair indica-
tion of the average yield, as opportunities for shipment
by fsvoured ships have been continuous during the
period, and the gold has been sent down at once by the
buyers on the gold fields. During the corresponding
weeks of last year the highest amount sent down was
37,336 ounces, and the average 33,874 ounces. The re-
mission of the escort fee of 6d. per mince to the shipper
on payment cf duty is a very powerful cause for the pre-
sent increase in the escort returns, as safe transmission
is secured without any expense whatever to the trans-
mitter, while those who bring or send their parcels down
privately have to pay the same amount of 2s. 6d. per
ounce for duty alone :

a.;
7.vt-:
4.
4);
:-..t'i
24F.-,

o
:r
A
7,281
1,743 8,345
- 8,043
CBO -
- 13,767
567 5,317

Aug. 25
Sept. 1

19,212
20,716
19,i61
21,627
15,618
17,280

14,416
16,545
19,232
18,356
13,373
16,019

-- 22..
-- 29..

7,G33

5,642
2,317

"The receipts by escort and the shipments during the
respective periods of 1853, 1854, and 1855, were as for
lows :

1853. 1854. 1855.
First Eight months. Oz. Oz. Oz.
Receipts by Escort 1,332,741 1,101,573 1,381,933
Shipments
"To these satisfactory indications of the present re-
sources of our gold fields we may add that the prospects
for the future are as bright as ever. The process of amal-
gamation is at present little understood. Thousands of
tons of quartz are thrown aside, and many a claim aban-
doned, because the gold cannot be extracted in paying
quantities with the available means. When the light of
science, which has hitherto shed very few of its rays on
the gold-digger, shall have been brought fully to bear on
the subject—when the greatest possible quantity of th•
precious metal will be extracted at the least possible ex-
pense, we can fairly anticipate that the results will
be enormous.

" From letters received by the Champion of the Seas
we learn that surprise is beginning to be expressed in
England at the vast amount of gold which is still beingl
poured into the markets of the mother country, and still
further swelled by each succeeding ship. This surprise
will probably continue to increase, for a widely-spread
opinion is gaining ground here, that the yield of our
gold fields, hitherto enormous as that has been, is in no
manner to be taken as a sample of what they may here-
after produce. Quartz-crushing is, indeed, the topic of
the day, and so brilliant have been the results of some
oxperimentg, so boundless is the quantity of material
supplied on all sides, that it is believed the golden har-
♦est from this source will be found ultimately far to
transcend anything hitherto derived from the alluvial
deposits.

"On the 30th of June the ascertained population of
Victoria was 303,527.
" The arrivals and departures since our last summary
have been as follows :
Week ended Arrived. Departed Net Increase.
Aug. 25
Sept. 1
Sept. 8 ...... 416
Sept. 15
Sept. 22

Totals 4,290 1,237 3,053
"In this return the number of Chinese are nearly
equal in both arrivals and departures, several bands of
fortunate diggers having sailed homewards with the
fruits of their industry.
" In our review cf trade and commerce for our sum-
mary of the 21st of August we had occasion to notice the
continued stagnation of business, arising from various
causes, the heavy s; ocks at the goldfields, the high prices
of breadstuffe, and the want of all proportion between
producers and consumers in the colony. Since that
date, howevt.r, the stocks on the gold fields have been
materially diminished by the steady process of oonsurep-
tion, and, although the price of flour has not materially
fallen, vet a demand for general merchandise has sprung
up for the interior, which is beginning to impart some-
thing like buoyancy to the import trade. As there is,
however, a scarcity of money on the one hand, and a
diminclination to give credit, except to such houses as
have an established reputation, on the other hand in-
`thing like briskness in our market can yet be reported.
The continued decrease of imports is exercising a benefi-
cial influence, and holders of many descriptions of goods
which hitherto could only have been sold at a loss are
looking forward to the spring trade to enable them to
realise at a profit. Speculation has almost entirely
ceaseil in our import market ; business is purely of a
legitimate character ; tour merchants have contented
themselves for some months with doing little in the way
of pushing a trade, and biding their time to realise for
cash, or for credit to safe houses. That this caution has
riot been uncalled for may be gathered from the follow.
ing analysis, which shows the monthly progress of insol-
vencies for eight months of the present year (1855), with
the exception of from 40 to 50 cases in which we have
not been able to ascertain the amount of liabilities ;
Summary of Eight Months, from Ist Jan. to 31st Aug.
3 gentlemen
19 merchants, storekeepers, and com-
mission agents 91,472 3 1
3 brokers
1 engineer
2 surgeons 13,974 0 6
15 builders and contractors
1 engraver 596 10 0
5 mariners
12,413 19 2
39 licensed victuallers 147,792 7 5
6 butchers
11,161 14 10
3 auctioneers 15,735 18 7
2 farmers
947 10 5
2 cattle-dealers
5 bakers
4,428 2 9
2 millers
4,541 17 8
1 brewer
12,287 2 10
2 carpenters
864 6 1
3 labourers
1,168 8 5
3 brickinakers
2 jewellers ,•
1 sod a-wate; ' '''''''''' '''' ''''''''''
842 8 8
2,937 19 0
4 drapers
............................. . 11,972 18 8
1 saddler
1 land agent • .......................... 1,871 0 0
..................... 171 4 2
2 settlers ....................... 2,
............... 27,694 5 0
1 grocer ................................ 1,946 15 9 1 laorsebreaker
.............. 113 15 6
watchmakers ........................ 2,281 12 4
lighter agent ........................ 1,563 4 8
1 printer
383 2 10
1 omnibus proprietor
093 1 8
1 blacksmith

£403,168 9 7
"Thus we hive known liabilities amounting to above
• 400,000/. in 133 insolvent estates, and wearresuaniriesve
are under the mark in stating that, were the remaining
40 or 50 estates, the liabilities of which are not ascer-
tained, to be added, this amount would tell up to above
:100,000/. sterling. When it is considered bow small the
dividends usually.are areon colonial estates, and how long a
space of time elapses before these dividends are receiv-
able, the distant reader may form some idea of the,
gtoomy nature of the crisis from whose shadow ive are
Low happily ernergin—.
g• Great credit is due alike to the ,
banks and to the large hOuses for the satis f act an-
ner in which the credit of the colony has been steed
through the breakers that have surrounded it on every
side. In our commerce a much healthier state of things
exists ; our exports are greatly in excess of our imports,
and unsuitable goods are no longer poured in upon us.
The cargoes arriving are generally to order, and are at
once realised at paying prices. The followinc, tables of
our import and export trades, and of oar bonded stocks, '
and monthly deliveries for home consumption, compiled
from the Customs' returns, will give a good insight into '