The Sun.
London, England, 1856-06-25 00:00:00

object of their sublimer speculations. So universal
was the belief in the omnipotence, the sacred effi-
ciency, and the approaching evanescence of gold,

which -was to recede from the earth like Astray and

the last of the gods, and so profound aconvietion

was there in xle .best-informed minds that our

planet would have seen its .best days when it had
spent its last guinea, that only ten years ago it was
the favourite and only correct opinion. Yes, even
after the repeal of the corn laws there were men

who held it little else than blasphemy to doubt
that we were all on the way to ruin, both of body
and soul, because gold was scarce, the supply was
limited and threatened with exhaustion, and the
British Legislature rashly neglected the only policy
calculated to keep our little stock within our own
shores. The fandholder was exposed to an in-
creasing odium. With his fatal gripe on the actual
sovereign, lie seemed to possess in reversion the
whole wealth of the world ; and it became an
honest, moral, and most reputable opinion, held
by men not all scoundrels, but rather the reverse,
that all honest men ought to join together, repudiate
the metallic obligation, and send away the fund-
holder with an inconvertible bit of rag in full of
all demands.

Such was the state of things only ten years ago.
There was also another state of things, in a matter,
as we are now disposed to regard it, much more
important. We possessed magnificent colonies—
that is, magnificent islands and shores, which we
had colonised with the sinews not of our popula-
tion, but of our gaols. We had sent there our worst
men on the speculation that human nature would
recover itself when removed from the corrupting,
influence of British society and our cherished insti-
tutions. No doubt there was much to bo said for
the theory in the abstract, but it did not answer
in practice. We tried to get up an emigration of
an ordinary character to these same regions ; and
in one way or another there did rise up a colonial
class with the sentiment of virtue and honour.
This proved the ruin of our colonies as penal set-
tlements. The virtuous Lot of the colony was
vexed with the evil doings he saw about him, and
gave the colony a bad name. So, in one way or
another, partly because our Australian colonies
were too bad, partly because they were too good,
they would not increase and multiply. The indus-
trious and enterprising people of this country pre-
ferred the United States, and much 2canclal was
caused by the indecent and almost ostentatious
readiness with which people changed their al!e-
giance from a George, or a William, or even
a Victoria, to a General, or a plain Mister,
residing at Washington. Here we were boast-
ing that we possessed a sort of fifth quarter
of the world, yet we could do nothing with it ; and
up to 10 years ago we had not sent to it the popu-
lation of a London parish or a small Midland county.
This was a far more substantial and more criminal
shortcoming than a short supply of the precious
metals. It was a social fact, and a very lament-
able fact, whereas the apprehension of universal
poverty was only a speculative chimera that had
probably derived some of its vitality from the ex-
cessive and almost morbid appreciation which cer-
tain circumstances are apt to inspire for one of the
' higher coins of the realm. The fact told very
seriously on that class of our population which may
be said to represent our rising energy, education,
skill, and physical power. England was full of ill-
paid labourers, ill-paid clerks, shopmen, porters,
engineers, farmers, and labourers. They did not
know whither to go. The climate of Canada was
supposed to be rather against them. The autho-
rities, the gentry, and the clergy would not coun-
tenance emigration to the United States ; while
Australia, besides its immense distance, was con-
taminated with a convict population. It produced
a good deal, but there was nobody to oat it, and
nothing could be done even with sheep but to clip
their wool and reduce their carcases to tallow.
It was in vain that philanthropists and politi-
cians pictured toour starving population a country
under the British flag where good mutton
was burnt by waggonloads because there was
nobody to eat it. The people would not or could
not go ; and although every village clergyman,
churchwarden, and even postmaster was instructed
to distribute bills offering assistance to emigrate,
the appeal was in vain ; a few score parish emi-
grants a-year was all that came of it.
We are speaking of anticipations not yet ten
years ago. Now the wonder is all the other way,
and men ask how it is that with the enormous in-
flux of the precious metals so little comes of it.
Have our readers perused the letter from Mel-
bourne in our Monday's paper ? It appears that
from Vile prrovineo ..f A.,....kra1.L.-wo aro now receiv-
ing at the rate of 3,000,0000 z., or 12,000,0001.
a-year. It has nearly doubled upon last year, and
is still rapidly increasing. The increase is against
all opinion, for there is no point on which people
are more incredulous. It has been said over and
over again that these or those diggings were worked
out, that machinery never would have a chance
against manual labour, and that crushing was slow
work against washing. Every such prediction has
been falsified, and it appears that laws of social
progress vindicate themselves even in that rude
state of society. Labour finds it worth its while
to divide profit with the capitalist. The " rocking
cradle" is worked by the horse, the bucket gives
way to the pump, and both in their turn give
way to steam.
i The quantity of British manufac-
tures poured into the colonies, in return for its
few but precious exports, constitues a new and
astonishing feature in our commercial con-
dition. It is true that so much was sent to Aus-
tralia on speculation that there was at one time
great loss ; and a class of economists, in their usual
search for mares' nests, discovered that the balance
of trade was against Australia. However, this is a
sort of evil that soon rectifies itself in an infant and
prosperous colony, just as a child with a vigorous
constitution can soon give a good account of a
little extra feeding. A good deal of the supposed
excess was invested in the colony for the benefit
of new settlers, and a good deal was " sacrificed"
at the cost of the importers. A little time since
there was a redundant supply of a class of persons
who are redundant everywhere—that is, persons
of both sexes who expect a competence without
much exertion, who cannot dig, and don't know
what else to do. The cost of all the necessaries of
life became enormous ; useful enterprise received a
check from the high price of food, and the candle
was burnt at both ends in a large consumption
and short, supply. It is not so now. There
has been a great falling off in the immigration ;
mouths and hands are fewer; the market for all
provisions is abundant, and, though wages aro
nominally much lower, yet labourers, artisans,and
domestic servants aro both much more in request
and better off than they were. It is calculated
that y-L-4 ihe colone are s_peaking of Victoria, but
we believe it to be the same with the other
Australian colonies—would readily absorb any