The Sun.
London, England, 1858-09-14 00:00:00

Q UEEN'S COLLEGE, BIRMINGHAM

At the annual meeting of the governors and
friends of Queen's College, recently held, the Rev.
Chancellor Law (the vice principal) in the chair,
the report of the council for the past year was read,
and from it we make the following extracts :
" The aggregate number of students registered
as studying at Queen's College within the period
comprised between the Ist of October, 1857, and
the present date is greater than in any former
year.
" MEDICAL DEPARTMENT.—This department has
in every respect fully supported its character during
the past session. Your council have great reason
to be satisfied with the reports made to them by
the professors and tutors of the general good con-
duct and regularity of the students. The chaplain's
register shows that the daily attendance at Divine
service has been good, and the attendance of the
students, both senior and junior, at the theological
lectures, quite satisfactory. At the close of every
term It written examination has been held, at which
the students of the respective classes have been re-
quired to attend. •
" ARTS DEPARTMENT.—The senior tutor and
chaplain reports :7--‘ I am glad to notice that the
two students who were under my care while pre-
paring for the London University exawAihations,
Greig. and Fox, recently passed the mktriculation
examination of the first division. 'Two other
students •.have also passed the Apothecaries' Hall
preliminary examination creditably.'
THE ENGINEERING DEPARTMENT,—The engi-
neering class, while it affords the most ample Means
for securing a first-rate educati'jn for persons in-
tending to follow the professie,ns of civil and me-
chanical engineering, with a degree which the
college, under its charter, has' power to confer, by
the above
rule, will also afford such a part of the
whole as may be sufficient for those who do not
intend to follow those professions, but to whom, as
manufacturers, such part so obtained will be of the
greatest value.

LAW DEPAR:cmENT.—The number of students
the first term -,eas 13, and the second and third 141
Of this nain!aer one gentleman is keeping his terms,
preparatory to a call to the bar • another is'read-
lug fib_r a degree in laws at the London University ;
an. d are articled to solicitors. Considering that the
_attendance on law lectures is not at present made a ne
4essary condition to examination by the Incorporated
Law Society, and that much prejudice on this sub-
ject has yet to be overcome, the number of students
is encouraging, and the professor reports favour-
ably of their regular attendance and attention. It
is hoped, .however, that next year the Birmingham
Law Society will appoint examiners to conduct
terminal examinations,
and that the college will
be thus enabled to distinguish its meritorious
students in this as in other departments.
" THEOLOGICAL DEPARTMENT. —The professor
of theology reports During the academical year
lately closed there has been an average of rather
more than 21 students in attendance on his lecture,
the average for the previous year being 15, and for
the year 1856 eleven. In the past year eight stu-
dents have gained the certificate, most of whom
expect ordination in September next. Three stu-
dents also have been accepted by bishops as candi-
dates for holy orders without any certificate. The
mass of evidence recently collected by the select
committee of the House of Lords has brought into
more distind notice the existence of an appalling
amount of spiritual destitution in this land, and
has directed anxious attention towards the best
means of providing for it. In that evidence it ap-
pears again and again that there is the most urgent
necessity for a largo and speedy increase in the
number of the clergy. It is thought by many ex-
perienced persons that in a manufacturing or
mining population a body of clergy drawn less
exclusively than at present from the upper and
wealthier classes, would, and as far as it has b(4vi
tried does, succeed in many departments of paro-
chial work as well or better than those who have
been more highly educated, and who are more re-
moved from their flocks in habits and ideas. There
is evidence to show that such men penetrate into
quarters which are practically closed against their
superiors, that their ministrations are more frankly
received by
.many amongst the working classes,
and that their manner of teaching is more intelli-
gible and persuasive to them. There can be no
doubt that the prevalence of Romanism and dissent
amongst the masses of our people is greatly due
to the fact that these denominations draw their
ministers more largely from the lower ranks of so-
ciety than does the Established Church. While the
professor by no means desires to intimate that his de-
partment draws, or seems likely to draw, its students
chiefly from classes of society lower than those
from which the ranks of the clergy are usually
recruited (the fact being that several graduates of
different universities have from time to time
entered, that several, of the students are often men
of means and position, and others the sons of bene-
ficed clergymen whose circumstances render it
expedient to avoid the expense of an education at
Oxford or Cambridge), still he may be permitted to
point out that the arrangements of his department
are well adapted to meet such a state of things'
" CHEMISTRY.—It is sincerely hoped Professor
Bond will spare no endeavour to keep pace with
the progress mode in the various departments of
c:iemicai. philosophy, but more particularly. in
those directly bearing upon the study of medicine.
" GEOLOGY.—The invaluable services of D. T.
Ansted, Esq., have been secured as professor of
geology—a gentleman who enjoys a European
reputation, and whose appointment cannot but
give a most important impulse to the study of
geology, a branch of knowledge at the present day
so indispensable in this great mining district, and
at the same time give additional strength to your
institution, by adding one to the list of dis-
tinguished men now associated under your direc-
tion for the cultivation of science in all its depart-
ments in the midland metropolis.
" AGRICULTURE.--It is confidently hoped that in
the recently established agricultural chair Mr.
Tanner will succeed in imparting valuable instruc-
tion in a branch of human knowledge essential to
the happiness and prosperity of the nation.
" A RCHITECTURE.—Upon the recommendation of
the Architectural Society of Birmingham, Mr.
Chamberlain has been appointed to the vacant
chair. The council relies on Professor Chamber-
lain's exertions ; but, however enlightened and
strenuous these may be, the co-operation of the
Society of Architects will continue indispensable.
" THE WARDEN.—The Rev. J. G. Cumming
has been appointed Resident Warden on the follow-
ing grounds :—His experience of 20 years in
tuition and the management of students, more espe-
cially as Vice Principal of King William's College,
Isle of Man, the unveiled approbation of those
with whom he has been connected in two large
educational institutions, a constant engagement in
clerical duties, and in scientific and literary pur-
suits. It is firmly believed that Mr. Cumming will
be powerfully instrumental in working out the
scientific details of your institution, no less than
providing a comfortable home wherein the students
may pursue their studies with pleasure and profit,
with greater advantages than young men can com-
mand who live without the precincts of the college.
It ought specially to be mentioned that the Warden
and the Professor of Pastoral Theology, in order to
relieve the college from its financial difficulties,
have most generously devoted a considerable
amount of the Warneford endowments towards its
support.
" THE PRINCIPAL.—The earnest and untiring
devotion of time and talent by Mr. Sands Cox,
during the last 30 years to the interests and ad-
vancement of the college are so well known to all
connected with it that the highest position and
honour which it is in the power of Tour council to
confer will be deemed only a small acknowledg-
ment of his eminent services. Your council enter-
tain the most fervent hope that, under his prin-
cipalship, the college will (with the Divit a blessing)
greatly prosper, and - become not only 'a seat of
sound learning and religious education, but, what
it has always been his earnest endeavour and high
ambition it should become, the Queen's University
for the Midland Counties.
" From the facts embodied in this report it may
be inferred that at no period §ince the foundation of

The ship Sir John Moore, Captain Robertson,
from Antwerp, which arrived in the harbour of
Glasgow on Friday last, had on board the ship-
wrecked crew and passengers of the May Queen of
Bath, in the State of 111aine. It seems that the
Queen was from Gottenburg in Sweden, bound for
Boston, was loaded with bar iron, and carried,
besides a crew of 16, 33 steerage, and 4 cabin pas•
sengers, the latter includin.• a lady and her family.
About 10 o'clock on the morning of the 4th inst.,
during the prevalence of a strong ale blowing
as it
S.W. by S., the May Queen (as it g
was observed running towards the proved to be)
with ensign half-mast, and when s
pS, to
kr e Ju ollii !ia
811 f lo ouonr
de
to be in a very leaky condition. They were the
3 deg. west of the Shetland Islands, and the M n
ay
Queen had been out about six days. A desire was
expressed that the Sir John Moore should keep
company with her, as if the leak increased she
would have to be abandoned. This was agreed to,
and, accordingly, having filled her sails, the Sir
John Moore proceeded on her course, with the
May Queen following in her wake, till about half-
past twelve o'clock, when the latter was seen to
hoist her ensign, union down. On coming up those
in the May Queen said they would abandon her if
taken on board of the Sir John lloore, on which
the latter hove to, and got out two boats, by which
the passengers, with the most valuable part of their
luggage, were transferred from the one vessel to the
other. They were, however, nearly destitute of bed-
ding and cooking utensils, and most of their clothing
wag wet. The crew, with th,-'-- - `ping, were next
takbn on 13“..1d, an-. 1_
_~l mate followed
in the last boat about seven p.m. Two of the ship's
boats were then hoisted in, and the Sir John Moore
again kept oh her course, leaving the May Queen
to her fate. When they left her she had five feet
water in her hold. On reaching Glasgow applica-
tion was made to the American and Swedish _con-
suls. The former took charge of the lady and her
family who were in the cabin, and also sent the
crew of the May Queen to the Sailors' Home ; but
the latter consul, it appears, had not authority to
grant the necessary assistance to the steerage pas-
sengers, and arrangements were therefore made on
Saturday for their temporary accommodation at
Govan poorhouse, where they now are. Mr.
M'Culloch, governor of the poorhouse, exerted him-
self in a praiseworthy manner on behalf of the
suffering emigrants, and, assisted by Mr. G. Wilson
—a gentleman who has been in Sweden, and who
acted ably and fluently as interpreter—made in-
quiry into the several cases of the parties. In
conversing with them they seemed averse to re-
turning again to their own country, but expressed
a strong desire to proceed to America, where many
of them have friends. They are very intelligent,
and appear to belong to the better class of trades-
people. By this disaster they have been deprived
of nearly all the means necessary for conveying
them to their contemplated destination, and their
case is well deserving the sympathy of the public.
Since the foregoing was written the following re-
port of the master of the May Queen, Mr. It G. Stan-
wood, has been published :—On the 27th of August,
1858, my ship being ready for sea and lying off the
Castle in Gottenburg river, employed a steamboat
and towed to sea. 29th August—being.then clear
of the land, and in the North Sea, wind south,
shaped my course for the North passage. Every
thing went on well until Sept. 2, when I encoun-
tered a tremendous gale from the S.S.W., with a
fearful sea breaking on board in every direction.
I tried to ease the ship in every possible way, but
she laboured so hard it seemed impossible to outlive
the storm. My position at this time was about 75
miles N.W. of Orkney- Islands. At 10 p.m. sounded
the pumps, and found two feet of water in the well ;
ordered both pumps to work ; found she leaked
about 700 strokes per hour. At 12 midnight the
ship was struck aback by one of the heavest squalls
I ever experienced, being at the time under close-
reefed fore and mixen topsails and double-reefed.
maintopsail, heading up W.S.W., wind south, when
I found she had sprung a fresh leak, and was mak-
ing 1,500 strokes per hour. Sept. 3—Leak continued;
weather more moderate ; made some sail to steady the
ship ; passengers and crew working continuously at
the pumps. Sept. 4, 8 a.m.—Found the leak increas-
ing ; crew nearly exhausted. 0 a.m.—Observed a
sail under our lea. I consulted with the officers and
crew what was best to be done ; we concluded to
run down for the strange sail, which proved to b©
the English ship Sir John Moore, Captain Charles
Robertson, bound for Glasgow. On making known
our condition he agreed to keep company, we hoping
the wind might change, instead of which it
increased from S.W. 12 noon—Leak increas-
ing ; held a consultation, and concluded to
abandon the ship. I then hoisted a signal of
distress, when the Sir John Moore hove to for our
relief. At 2 p.m. got out our boats, and commenced
transporting the passengers ; at 6 p.m. I was ready
to leave the ship m the last boat, when I sounded
the pumps, and found that the leak had gained
about five feet in five hours, and the vessel appeared
very loggy in the water. I then left her in lat.
60 30 N., long. 55 W. I shall always remember
Capt. Robertson with the warmest gratitude, for
saving us from a watery grave. Through the in-
strumentality of God he came to our relief ; and his
attention to our wants, while on board of his ship,
deserves the greatest eredit."—North British Mail.

DR. LIVINGSTONE'S STEAM LAUNCH ON THE
RIVER ZAMBESI.— We have been favoured with the fol-
lowing interesting letter from Dr. Livingstone, the distin-
guished African explorer. Our readers will .be glad to gee
that the pretty little steel launch, built by Mr. Laird, and
taken out by Dr. Livingstone in compartments, comfort-
ably stowed away on board the Pearl, is satisfactorily doing
her part in the great enterprise :—"
MaYllbert'Zai
June 21, 185 S. My dear Sir,—As you no doubt feel
anxious to hear how We get
that we
tahnetelra:dnemh,Latl
has
happy to be able to inform you _
üboumr,e)woenprtiOe
cce Idsedth at
bi‘eelanncaanllde,d rnedsint
F4Luatthfione(pratogrlhyai L.
once to take out thethilneetcdoan3TNavratsmesuntffiscoiefntthfenArl gettingarbrt
from the Pearl. The
her into the water and putting her together, by the admir-
able and simple contrivance your son invented. We had
only to stand on a compartment in sufficient numbers
to sink it down, and, drawing it to the middle sel!..
tion, 'the bolts slipped in with the greatest ease.
On the evening of the third day she was ready to
act as pilot to the larger vessel, and has been doing admirable
service ever since. She goes pulling away on this great
Zambesi now, to the infinite disgust of the hippopotami, .9
whole herds of which rush off pell-mell as soon as wo
approach them, and the crustiest old bachelor among them
dares not do her battle. It would be an immense boon if
Government would send out such vessels to run up creeks
and rivers, and chase slavers, instead of taking it out of the
poor sailors' muscles at the oar, but you would require to
make them broader than this, and not quite so long ; the
length might be borne with if they were four or five feet
broader, and no objection would be taken to this, as the
men-of-war could carry them with ease between masts.
Allow me also to suggest, as an improvement, two plates
near the bottom of each compartment, with plugs which,
when the compartments were put together, might be taken
out, and bolts inserted. 1 mention this because our after-
compartment shows some symptoms of the bottom bolts, or
dowels becoming loose. I venture, also, to suggest the
greater width, as we can't carry luggage at present, and
four feet additional width, with, perhaps, a little more
power, would make her perfect, She has done exceedingly
well, and taws a large launch better than we expected.
Now, as I am done with criticism,- which Yon may think
sufficiently presumptuous, I beg to be most kindly remem-
bered to Mrs. Laird and all your family. Davin LIVING-
STONE. • John Laird, Esq.' —.Liverpool Albion.
and nurses will find Du
Barry'sl3VlE dßeliTcliSoEulkr
itNerv.l----eniklt:Athraerebi
ca Food achrurably adapted
tfoanretamaonvdecahlluddriseonrLersatoafusttoinniwaschliarlde,bsuolvhelass tionawitgeiestainn:
flatulency, cholic, dysentery, diarrhoea, constipation, debility.,
and restlessness. It strengthens, nourishes, and,is used
with more advantage than milk in rearing infants. We
quote a few out of many testimonials :—" Amsterdam, Dec.
31, 1852.—Dcar sir,—Our child, up to the age of 11 weeks,
was very delicate and wasting away, and milk, sago, and
arrowroot turned sour on its stomach, causing greatsuffer-
ing. We then fed it upon Du Barry's Revalenta Arabica,
whit ll agreed wonderfully with her ; and she is now, at
the age of nine months, a plump and lively little girl--
Daniel Servat." " Wildervank, Holland, Sept. 20,
1853.—Dear sir,—Our baby, which *Heaven presented us
with ten months back, was attacked,
with a disease of the stomach and glands'oir
When four weeks cid,
wlucliour
seven previous infants had all been esitrse
and brothers nd this last
child seemed destined to followitsa
very able practitioner,
be-
fore many days, for our doctor,
exhausted. all_ his skill, and was at
had, during three wee.
a loss what to prescribeks,,next, when he advised Du Barry's
six
great change for
Revalenta Arabica,thwe hbeichtt,arl
inanai hfaepwpydat;asa;3:a,nwdorinked a
hild w well, an d is
weeks' time the
now a cheerful,
happinesscbltoaemlinif,as perfectly
H.
urcevadmof
an.th,a,
greatest
Supported by testimonials from the celebrated Professors-of
L Chemistry, Dr. Andrew re, Dr. Harvey, Dr. Shorelan4
Dr. Campbell, Dr. Gattiker, Dr. Wurtzer, Dr. Ingram, Lord
Stu de Decies; Major-General Thomas King, and many
other. respectable persons, whose health has been restored
by it, after all other means ,of cure had failed.
,Suitably
packed ',with full instructions. In canisters Ilb.
2s. 9d. ; 21b. 4s. Gd. ; 51b. lls. ; .121 b. 225. The 121 h ca-
nisters are -rent carriage free; ion 7,, Regent
-street,
order. Barry Du Barry, & Co.
and through all chemists and grocers in town and
country. Important caution against tiro fearful d'angeilof
spurious imitations: The Vice-Chancollor. -Sir. illi
Page Wood granted an injunction on Alio 10th March,
1851, against Alfred Hooper Nevin for imitating "Du
Barry's Revalenta Arabica Food.

THEATRE-ROYAL, HAYMARKET.
Lessee, Mr. J. B. Buckstone.
THIS EVENING] will be performed THE WAY TO
KEEP HIM. Messrs. Buckstone, Howe, and Farren ; Mrs.
lob Sinclair.
After which, THE DAUGHTER OF THE GUADAL-
QUIVER. Perca Nena.
Followed by A WICKED WIFE. Miss Reynolds.
To conclude with A KISS IN THE DARK.
Commence at 7.

ROYAL LYCEUM THEATRE.I
Manager, Mr. Edmund Falconer.
Great Success. The New Comedy of EXTREMES ; or,
Men of the Day. Supported by Mrs. A. Mellon (late Miss
Wagger), Mrs. Weston, Miss Kate Saxon, Messrs. Emery,
J. Rogers, E. Falconer, and Barrett, EVERY EVENING.
To conslude with the New Farce, entitled TOO MUCH
FOR GOOD NATURE. Messrs. Emery, J. Rogers, Mrs.
Weston, and Miss Kate Saxon.
Doors open at half-past 6, to commence at 7. Box-office
open from 11 to 5 daily.

ROYAL STRAND THEATRE.
Lessee and Directress, Miss Swanborough.
THIS EVENING, NOTHING TO NURSE; Mr. Swan-
-borough, Mrs. Selby.
After which THE LAST OF THE rIGTAILS ; Messrs.
C. Selby, J. Bland, and J. Clarke, &c.
Followed by A ROUGH DIAMOND. Miss 31. Oliver and
Mr. raraelle.
To conclude with FAMILY JARS. 31iss R Wilton.
Commence at 7 o'clock.

CANTERBURY HALL, Westminster-road.—
OPEN EVERY EVENING.—The following Company
of Vocalists are engaged for the performance of Selections
from all the i)opular OPERAS, MADRIGALS, CHORUSES,
GLEES, DUETS, dec., viz.:—Miss Russell, Mrs. Badsey,
Miss Brunel!, Miss Ray, Madame Bartoletti, Miss Montague,
Mrs. LaWrelICC, and Mrs. Anderson; Herr F. Jonghmans,
Mr. Renshaw. S. Jones, J. Barker, W. Melling, Senor Antonio,
E. L. Hime, Mr. BadseT, Senor Tiroli, Mr. Cozens, Mr. Bell,
Mr. Barnard, and Mr. St. Albyu. Mr. John G. Forde and E.
W. Mackney. :Pianoforte, Mr. Cecil Hicks—Harmonium,
Wr. Courtnay—Director, Herr F. Jonghmans. Commence at
7 precisely. Suppers, &e., until 12 o'clock.
"NOTICE.—The Proprietor begs respectfully to announce
oat in the month of October,

A FINE ARTS GALLERY,
now in course of construction, will be thrown open In con-
nexion with the above Hall.

411 E trEATHER.7-Strx OFFICE, SEPT. 14.

tal THERMOMETER, IN TIME SHADE.
75—highest since noon yesterday.
59—lowest this morning and during the night.
70—this day at noon.

BAROMETER-30'20.
WIND, North-Easterly; light, with fine weather.

We have frequently had occasion to notice the
rapid development of political liberty in our Aus-
tralian Colonies, and to point to the success there
of measures against which all kinds of imaginary
cavils are raised here. And the inhabitants of
these colonies being to such a very large extent
Englishmen, who have but recently left their mother
country, and who carry with them all the views
and habits of those they leave behind, we have
justly thought that a fairer example to argue from
could not well be furnished us than that of Aus-
tralia. With Englishmen, however, the connec-
tion has always been very intimate between com-
mercial enterprise and political freedom ; indeed, it
has been the same in most countries ; and we are
therefore not surprised, when the commercial ad-
vances of Australia are placed before us in the dry
statistical form, to find that they are almost some-
thing miraculous. The piecemeal accounts which
we receive from time to time have indeed prepared
us for the totals, but the results are such as will
strike most of us as marvellous at least.
It seems that, by order of the Governor, the
Registrar-General has published a complete sum-
mary of the progress and statistics of Victoria,
rom the year 1851, when Victoria became a dis-
tinct colony from New South Wales and gold began
to form a part of the exports of the colony, to the
year 1857—a report comprising almost everything,
beginning with telling us of extent of territory and
range of temperature, and ending with telegraphs
and railways. It is, in fact, a Conspectus nctorice
for the six years referred to, and is certainly calcu-
lated to make the Victorians think something of
themselves. We do not remember that any colony
of our own, nor even California itself, has advanced
so rapidly in all that constitutes the most valuable
growth of a new country.
To begin where the report begins, we find " am-
ple room and verge enough," not less than equal to
that of England, Wales, and Ireland combined,
90,000 square miles of territory, and that in a cli-
mate so suitable to European constitutions, that its
mean temperature is not quite ten degrees above
that of Greenwich, and the difference of txtreme
temperatures, the chief point for weak constitutions,
also less than with us. The severe and damp cold
of our winters, too, so fatal to weak lungs, is un-
known, the lowest mean monthly temperature being
about fifty degrees of Fahrenheit.
The rapid increase of population under the gold
mania is, of course, what we look for ; yet it is sur-
prising, even though expected. In 1851 the popu-
lation amounted to 77,345 persons ; by the end of
March, 1857, it had increased to 410,766 persons.
Of these 109,000 were distributed over the rural
districts, and 166,550 belonged to the gold fields.
The result is that in seven years the population has
increased, sixfold. The increase, it is to be ob-
served, promises to be steady and progressive, since
during the last three years the proportions of
deaths and births present, perhaps, one of the most
marvellous on record. There have been respec-
tively for the three years—Births, 10,210, 12,799,
and 15,937; against deaths, 6,572, 5,760, and
6,521. The immigration of nearly five-and-thirty
thousand Chinese, consisting almost entirely of
males, is a subject of annoyance, and special taxes
arc laid on them to discourage them ; the immigra-
tion, on the whole, for the six years, has amounted
to 441,811 persons ;but the return, or counter
emigration, in the same time, has been consider-
able, amounting to 176,455. This consists in great
part of persons who have returned home to enjoy
the independence they have achieved, and also of
many who have failed to succeed, or who have left
for other parts of Australia itself.

However absurdly agriculturists here may dread
the collection and publication of the statistics of
their business, it is just the reverse in Victoria, and
the consequence is that the colony knows what it
is doing in the most essential department of human
industry. We had not expected that cultivation
had made such progress—Australia and sheep runs
being naturally associated in our minds. Yet it

seem; that in. March of this year the land under
crop was 237,729 acres, producing nearly two mil-
lions of bushels of wheat, nearly as many of oats,
and a full proportion of barley and potatoes, with
six or seven thousand bushels of Indian wheat ;
while the average produce per acre considerably
exceeds, in some cases almost doubles, that of the
corn-growing states in North America. In 1852
there were only about fifty-seven thousand acres
progress of agriculture has
under cultivation. Thy
surpassed considerably that of population, and if it
continues, which seems likely, the country will

soon not only supply its own wants, but become a,
exporting country also. The value of last year's
crops, at the prices ruling in the colony, was up-
wards of £3,000,000. The quantity of live
stock, the strength of agriculture, is enormous
—nearly five millions of sheep, witlt-more than
six hundred thousand horned cattle; and in all
kinds there has been a large increase during the
last.
year ; no apprehension exists, therefore, of a

The increase

dinuniehed supply of animal food. _
in horned cattle alone, in the preceding year, was
between eighty and ninety thousand, and of sheep
nearly two hundred thousand. These facts are
especially intere"ings * 4ltogether negativing the

supposition that agriculture would be sacrificed to
gold diggings.
The public works of what may be called the
in fant colony are worthy of its vigorous growth.
One short railway, from Melbourne to the sea, is
already paying a dividend which will make the
mouths of our poor shareholders water—fourteen

per cent. net ! It is to be hoped that it will not.
ruin itself by " extensions." Forty miles of a rail-
way are already completed, between Melbourne
and Geelong,lleaving eight more to be finished;
and lines have been laid out to the gold fields, one
of which joins the great river Murray, which is the
boundary between Victoria and South Australia,
and part of New South Wales, and the grand chan-
nel of internal traffic. The lines are constructed
under Government superintendence, and there is
we presume, nothing wasted in parliamentary
expenses, or excessive price for land, or by oppos_
ing unfair competition. The electric telegraph has
stretched itself 701 miles, at a cost of £70,000,
through cities, forests, and unsettled pastoral dis-
tricts. The waterworks lately finished, and so
much needed at Melbourne, comprise an area of
thirteen hundred acres, and will contain about
seven thousand million gallons. Their total coat
has been £664,452, and they seem likely to yield a
good revenue.
The commerce of Victoria is now prodigious for
the size of the colony. To our best customer—.
America—our exports amounted, in 1857, to
£18,760,812; but America has twenty-three millions
of inhabitants. To Victoria, with only half a
million of inhabitants, we sent £6,630,000 worth
of our productions. The whole of our own colonies
in North America take from us more than two
millions less than Australia. Of course gold ha'
much to answer for in this truly wonderful com-
merce, about eleven millions per annum having
been exported for the last three years ; but wool,
we are pleased to see, continues to increase. In
1857, the exports of that article amounted to
17,176,920 lbs., valued af.X1,335,642. In 1851, the
qualitity was nearly a million pounds less, and its
value less by £601,024. Hides and leather have
also increased in value from £11,380 in 1851 to
£190,746 in 1857.

Such are some of the principal facts in this
remarkable Report. Those relating to Banks,
Savings' Banks, Education, and Religion are also
in their way equally interesting. In the Savings'
Banks, the deposits of 1,208 persons in 1851
amounted to £46,444 ; in May, 1858, the deposits
of 7,124 persons reached the sum of £425,766.
Whether we look at the population, the good order,
the public works, or the commerce of Victoria, it is
beyond doubt one of the marvels of modern colonisa-
tion. Why are the East Indies such an entire and
disgraceful contrast? There are great differences
of course ; but the greatest difference in regard to
the two last points is the government of the leaden
Company, and that of free Englishmen—the dis_
couragement of colonisation by the close monopoly
and the encouragement of it by the self-governed
Victorians.

The country is at present regarding another
phase in the inevitable monetary cycle. There is
now money in abundance for every legitimate
claim, and that at very moderate (perhaps too
moderate) rates of " interest," or " discount." It
is well to bear in mind the distinction between the
phrases " interest" and " discount," for the absur-
dity of the present monetary code is thereby
powerfully illustrated. " Interest" is something
paid on a loan for a protracted period—
A mortgage forms, perhaps, the best example,
" Interest," properly so called, seldom varies more
than one per cent. On first-class mortgages it may
vibrate between 3i and 4 per cent. On others
which, although equally secure, are not quite as
perfect, 4} or even 5 per cent. may be given in
" hard times." Taking the average, it may fairly be
estimated that the limits, with few and rare excep7
tions, may be taken at between. 4,3 f, and 41-
per cent.; while under similar circumstances the
rate of " discount" will vary at the Bank itself at
from
.2 to 10 per cent, and out of doors at from 11
to 20 per cent.
But in the funds the fluctuations of interest are
still less. The Three per Cents, have never been
lower than 87 during the greatest intensity of the
recent panic. No man could, therefore,
obtain more than £3 Bs. per cent. for his
money, if seeking a permanent investment on
Government security. These facts prove, beyond
the possibility of doubt, the absurdity of the OVER-
arroNE theory that the panics were created in con-
sequence of the deficiency of capital. No. Even
at our most trying periods there was a plethora of
capital. It was the circulating medium that was
wanting—the measure and representative of value
could not be obtained for temporary use save on

exorbitant and ruinous terms.
Now these evils were altogether avoided in the
olden time, before the currency quacks were per-
mitted to carry their vicious theories into operation.
For a century and a quarter before 1844 the rate
of discount never varied more than between 4 and
5 per cent., with the exception of a few months in
1838-9, and that, be it remembered, took place un-
der the Act of 1819—one only less prejudicial to
the best interests of the country than that of 1844.
Before that year these violent alternations were
practically unknown. Commercial operations had
not then degenerated into gambling speculations.
By honourable industry and unblemished integrity
men were certain of realising fair remuneration for
their exertions, and every labouring man was cer-
tain of receiving " a fair day's wages for a fair day's
work," if only willing to earn them. But all these
blessings were changed into curses by the enact-
ments of 1819 and 1844. Money was at one time
a drug in the market, obtainable on any fair
security, at the easiest rate of interest.
Before the obligations incurred under that state
of affairs required liquidation, everything was
changed. It wag not merely that money had ac-
quired a double or even fourfold value, but it could
scarcely be obtained on any terms. Men perfectly
solvent, if a little time were not allowed to realise
their assets, were compelled either to appeal to the
Court of Bankruptcy, or to wind up under inspection.
The compulsory realisation deteriorated their pro-
perty and blighted their future prospects. Them was
no further hope,and much of the commercial demorali-
sation, against which an many complaints have been
preferred, may be ascribed to the practical operation
of the currency laws. When there is a reasonable
chance of emerging from difficulties, and main-
taining a high commercial position, men will be
little solicitous as to the propriety of the means
adopted, or even the risks incurred, in the attempt
to keep their heads above water.
There could be no more auspicious time than the
present for introducing a sounder and better sys-
tem, one that preserves an equable rate of
" discount" as well as of «
con interest," and
sequently maintains the value of legal
tender money" at such a' 'Price as would be fair
both to debtor and creditor.
rGiveinog then
one his
other.full
demand without oppressing or ruining
Theequisite alterations in the law could not be
carried into effect at a time of gvneral distrust and
panic. The really national notes would be depre-
ciated, and the difficulty on the very threshold,

when men were not reasonable or mooning, might

ject. But it would be inaugu-
rbaetefadtaulntdoetrheyposerr
y different auspices—when the
Tl zreadneedle-street were filled to
creopffleertsioni,n
will shortly be' the ease—
' then the l Jullion in both departments exceeds
£ 20,000,00 and the reserve of notes £12,000,000,
'or about three times the amount required for the
-business of the banking department. This is the
t ime when the matter can be fairly considered, and
justly decideet, without either fear or favour, preju-
dice or affection, and this is the time when the
monetary reformers should set themselves to work
earnestly Arid zealously, for the purpose of destroy-
ing the monster grievance that has so seriously
affected the welfare, happiness, and prosperity of
the industrittl population of the country.

4.4!
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THE SUN.
TUESDAY, SEPTEMBER 14, 1858.