The Sun.
London, England, 1856-12-30 00:00:00

" VALUE OF LAND.

"The following is from a communication received
from our correspondent at Beech worth, the most dis-
tant of our gold fields :
" This district used to boast of sending down its
6,000 or 7,000 ounces of gold per week by escort. The
quantity rapidly augmented to 15,000, and even as much
as 18,000 ounces. With the news of our wealth came
population and a consequent impetus to trade ; business
sites in the town we►e do much sought after that the
c,tosci,nces of the fortunate proprietors became the only
test of their value. The Surveyor-General was besieged
to lay out more town lots ; accordingly a large sale came
off in May at the Court-house, some of the lots selling
at the rate of 2,5001. per acre. This was considered a
pretty fair price, but at another Government sale in the
ensuing month they realis,d 4,4001 per acre. The Bank
of New South Wales purchased- an
_allotment at this
figure. on which a new banking•house is now in course
of erection ; the cost of the building, I hear, will be
something over 4,0001., and it will doubtless be an archi
tectural embellishment to our town. The Bank of Vic
wrist was fortunate enough to obtain a site for an office
(area about 60 by 89 feet) for the moderate sum of 2,0001.,
and I hear that 1,0001. has been offered by the London
Chartered Bank for a site, 30 feet frontage, with a slab
building thereon, and that 301. per foot has been refused
for a vacant site in the principal street. Leases are
effecter; at 6/. and 71. per foot per annum for frontages,
the fortunate lessees erecting their own buildings. There
is, of course, a cause for this unprecedented rise in the
value of property within a year ; it is to be found in the
extent and lucrative nature of the business transacted,
of which one ot• two specimens will suffice. I heard of
one storekeeper having cleared out with something like
20,0011.'

"LABOUR.

"An increasing demand Is springing up for labourers
and domestic servants. The 440 Government immi-
grants brought by the Almora, which arrived at this
port on the 13th inst., and the 327 brought by the
Omega to Geelong, were all engaged at the full rates
quoted in our labour report within four days of their
arrival. Of those who came by the latter vessel the
Geelong Advertiser states that 80 single women were
engaged at wages averaging 251. per annum ; 20 mar-
ried couples were hired at an average of 701. per annum;
and four or five single young men were also hired at 501.
per annum, with rations. Many immigrants have joined
their friends, in consequence of which no single woman
is to be obtained. An increase has taken place in the
rate of wages paid to most descriptions of skilled la-
bourers ; and as, according to the eight-hour system
now in force, the working day terminates at 4 o'clock in
the afternoon, the position of artificers in this city is one
which may well be regarded with envy by their less for-
tunate brethren in the other hemisphere. Owing to the
public works new being prosecuted, or about to be com-
menced, and the impetus which the building trade is
likely to receive from the general prosperity of the
colony, the present rates of remuneration to artisans will
probably be maintained ; but we do not anticipate any
further advance, as we look forward to a considerable
influx of immigrants during the ensuing half-year.
Complaints of a scarcity of agricultural labourers reach
us from the extreme eastern and western districts of the
colony ; female domestics of good character and average
capabilities are by no means plentiful ; and 'navvies
and rough labourers generally will be in active demand
for many months to come."
A vein of black lead ore had been discovered on
the south side of Mount Kembla.