The Sun.
London, England, 1853-05-03 00:00:00

AUSTRALIA.

By the Admiral, which left Hobson's Bay on the 27th
of January, we have advices from Melbourne down to
the 25th of January.
The commercial accounts by this arrival are satisfac-
tory. The yield of gold from the diggings continued.
The produce market was high. The provision market
was falling rapidly, especially as regarded flour, and the
price of labour was rather lower.

- There was no political intelligence of any importance.
The Admiral has on freight 22,000 ounces of gold
dust. The following is extracted from the latest Gold
Circular :

Business has for the week been particularly brisk, the
price in Sydney for Victoria gold having advanced to
3/. 13s. per ounce. In Melbourne we have had numerous
buyers for that market, and the Warata, took a much
larger amount of gold than usual.
The banks havinc, altered the rates of exchange at
which they issue their draughts on London to 74 per
cent. discount, the purchasers of gold for remittances
have been very numerous, and the demand for shipment,
and for several of the banks that are purchasers, has
been very great, and the supply being inadequate to
meet it, the price has gradually advanced to 725. 3d. per
ounce, at which figure very large orders have been sup-
plied, and even 725, 6d. has been paid for a large
parcel.

- The Bank of Victoria and Commercial Banking Com-
pany have commenced business ; the former does not
purchase gold, and makes liberal advances at the same
rate of exchange as the other banks ; the latter pur-
chases gold, and makes the same advances as the others.

From the Eureka diggings the reports are not so
favourable as formerly, but those who work steadily
make a good living. Many left for the Creswick s
Creek, but have been disappointed in their expectations.
From Bendigo also the report is not favourable, the
miners having left for other places in thousands—for
Mount Korong, among others, where many parties are
finding gold in quantities.
Fryer's and Forest Creek are improving, and some
new spots have turned out very well. On the Coliban,
near the new township of Malmsbury, gold is found in
quantities sufficient to remunerate diggers, of whom
about 200 are now at work. Wood End, the further
extremity of the Black Forest, is also spoken of as a
new gold field. Again, to the westward, at Mount
Cole gold has been discoved, and in several other
localities, and doubtless ere long, when prospecting is
more general, it will be found that all the country ex-
tending from Mount Cole to Mount Alexander, and
thence to Mount Macedon, is one rich gold mine.
'The yield of the Ovens diggings rapidly increases ; un-
fortunately Sydney will compete with us with regard to
these mines, as Adelaide has done with respect to the
Mount Alexander mines, a very large amount of gold
having been sent overland to that district ; it is also un-
derstood that an escort is on the road to the mines,
which doubtless will carry off a large quantity of our
gold. However, the inducement for shipping gold,
either to Adelaide or Sydney, is now so small that it is
likely very little will be shipped, as the difference in the
price will not make up for the difference in the charges.
The Admiral, Melbourne, Statesman, and Northum-
berland are again about to sail from our port for Lon-
don ; the quantity of gold which each will convey will
fall far short of what they took home last voyage.
Estimated Amount of Gold exported from Victoria.
To 31st December, 1853, say Oz. 2,500,000
At 3/. 10s. per oz . 28,750,000