The Sun.
London, England, 1858-11-08 00:00:00

MONETARY AND COMMERCIAL,

Contrary to general expectation, the mail steamer
Australasian, with the English July mails, has
utterly failed to accomplish the passage from Suez
to this port up to this date
,; and there now appears
to be every probability that the European, with the
outward mails, will take her departure before the
arrival of the first named steamer. The immediate
effect of this delay in the receipt of later advices
has been to increase the dulness which has of late
prevailed in mercantile circles, and to entail serious
inconvenience and loss upon importers, as well as
upon the commercial community at large. On the
3d inst. the members of the Chamber of Commerce
held a meeting for the purpose of taking into con-
sideration the present unsatisfactory aspect of the
postal question, and after some discussion it was
decided to appoint a special committee to delibe-
rate upon the subject. A special general meeting
of the chamber was held on the 10th inst., when
the report of the committee in question was sub-
mitted, as also the rep9rt of the committee with
reference to a river and harbour trust. H. W.
Farrar, Esq., occupied the chair.
The minutes of the previous meeting were read
and confirmed.

The CHAIRMAN then read the circular convening
the meeting, and requested Mr. Hammill, as chair-
man of the committee on steam postal communica-
tion, to read the report of the committee.
Mr. HAMMILL then read the report, which was
as follows :

Report of the Special Committee of the Melbourne
Chamber of Commerce appointed at a special
general meeting of the chamber, held on the 3d
instant, to consider and report on the best means
of efficiently carrying out a mail service with

England.
As the result of their consideration of the sub-
ject assigned to them, your committee have to
report :

Ist. That they are of opinion that the time has
not yet arrived for the Australian colonies to un-
dertake the conveyance of the mails, either for the
whole, or a part of the distance to England.
2d. That the interests of this colony demand the
establishment of a thorough line of communication
via Suez to England.
3d. That in the altered position of the postal ques-
tion in these colonies, your committee are of opinion
that the chamber should urge upon the Govern-
ment the desirableness of this colony undertaking

to pay a moiety of the -subsidy requisite for the
monthly conveyance of the mails via Suez, reserv-
ing power to recover from the governments of the
adjacent colonies payment of their proportions rate-
ably with the advantages they derive from a parti-
cipation in the same.
4th. That in any contract for the postal:service,
it should be stipulated that the company under-
taking it should make provision for spare vessels at
the termini ; and your committee believing that
the length of the voyage between Melbourne and
Suez renders it impossible to maintain the perfect
efficiency of the vessels throughout, recommend that
a steamer should be kept in readiness at Galle to
which the inward and outward mails and pas-
sengers should be transhipped.

sth. That an alteration should be made in the

dates at prevnt fixed for the departure of the home-
ward mail, in order to afford the neighbouring
colonies sufficient interval to reply to the inward
correspondence.
W. HAMMILL, Chairman of Committee.
Melbourne, 9th September, 1858.
This report was adopted by the chamber, but the
consideration of that relating to a harbour trust
was postponed. We may observe that the govern-
ment of New South Wales have determined to
place a sum of £50,000 per annum, for a period of
seven years, on the estimates, as a subsidy for a line
of small steamers, via the Isthmus of Panama.
In the local money market capital is freely offer-
ing for investment, at rates ranging from 10 per
cent., but the scarcity of first-class securities is so
great that few negotiations have been completed.
Business in the Stock and Share Market has been

well sustained during the past month, and prices
have in some instances slightly risen. Colonial
Bank shares have recently changed hands at £6 25.,

and sellers are unwilling to realise at less than
£6 2s. 6d. Bank of Victoria are held for £39, but
sales have been effected at £37 10s. Victoria In-
suranse are quoted at £55, and Colonial Insurance
at 355. The further issue of Australasian Fire
Insurance shares has necessarily affected quotations,
and they cannot at present be valued at a
higher figure than 305., at which rate, however,
there are not many sellers in the market. Mel-
bourne Fire Insurance are generally held for 145.,
although sales at 12s. 6d. are reported. Melbourne
Gas Company's first issue, have been done at 35
per cent. premium, and new at £4. 7s. 6d. The
half-yearly meeting of the Studley Park Bridge
Company was held on the 26th, and a dividend at
the rate of 12 per cent. per annum was declared.
The report and financial statement were highly
satisfactory. Melbourne and Hobson's Bay Rail;
way shares (old) have been purchased at £l7, and
the company's debentures, due 1868, have been done
at £lO5. It is stated that a Melbourne company
will be formed to carry out the objects contem-
plated by the promoters •f the Ovens Gold-fields
Water Company. The cost of completing the
scheme is estimated at £36,000.
The demand in the local markets for imports has
not been well maintained, in consequence of the
extreme anxiety with which intending buyers
have been looking for the receipt of later advices
from England. The intelligence received by the
June mail was not calculated to restore the confi-
dence of buyers, as it was only too apparent that
home shipperis were again entering with singular
activity into the Australian trade. We are not in
a position, owing to the non-appearance of the over-
due steamer Australasian, to form any" estimate
whatever of the nature and extent of the exports
from the United Kingdom to this colony in all
June ; but we would again emphatically declare
that unless the transactions of exporting houses
are very materially restricted, an exceedingly low
ranger of prices will rule in these markets for
nearly all descriptions of imported goods. The
simple truth is that we are fully capable of pro-
viding for our own requirements, and of calculating
the limit of our wants so accurately, that the pro-
ceedings of speculative shippers only tend to pro-
duce mischievous results, and to reduce our markets
to a state of depression.

IMMIGRATION AND THE LABOUR
MARKET.

We have prepared the following statement,
showing the extent of colonial immigration and
emigration during the current year. The returns
are made up to the 11th instant. Those for August
and the present month representing the arrivals
and departures taken at the port of Melbourne
only :

Arrived. Departed.
January 2,650 .... 1,939
February
March 3,884 .... 2,529
April
ay
July
''`August 2,840 .... 1,040
*September (to 11th) .. •

26,716 13,444
D: duct departed

Nett M
immigrat* ion 13,342
elbourne only.
The following vessels have also arrived within

the last two days :—lnvincible, with 169 passen-
gers ; John Owens, 273 ; Albion, 164 ; Conflict, 36;
total, 642 arrivals.

With reference to the labour market, matters arc
gradually assuming a more satisfactory state.

PUBLIC AMUSEMENTS.

Since our last, Professor Anderson has appeared
at the Theatre Royal as Rob Roy, and William
in " Black-eyed Susan," drawing numerous audi-
ences, but in the end leaving a decided impression
that he had better have stuck to his conjuring. As
a reply to the unfavourable notices of the Melbourne
press, Mr. Anderson placarded the walls with the
Times' estimate of his histrionic abilities. He is
now giving his magical entertainment at some of
the diggings. The principal attraction at the Royal
since his departure has been Miss Mortyn, who, in
addition to the " Unequal Match," in which she
made her debut, has appeared in the " Daughter of
the Stars," the " Housekeeper," and " Janet Pride."
This last piece has been played several times, the
part of Richard Pride, in which Mr. Webster ob-
tained an European reputation, having been ably
sustained by Mr. R. Younge.
Miss Kate O'Reilly, who has had considerable
experience on the diggings, played for about a
fortnight, at the Princess's Theatre, principally
as the heroines of the Adelphi melodramas.
She commenced with Cynthia, in the " Flowers
of the Forest," and she wound up on the occasion of
her benefit and last appearance with Miami, in the
" Green Bushes." She is a good melodramatic
actress, but ,not a star of sufficient magnitude to
create a sensation.

Master Pole, a boy sixteen years of age, who had
previously played atßallarat,has made two appear-
ance at each of the Melbourne houses, and his pre-
cocious talent astonished his audiences. The charac-

ters in which he appeared we're Macbeth, Hamlet,
Claude Melnotte, and jticliard 111.

An opera company is now performing at the
Princess's. The principal artistes being Miss Har
land, Mesdames Carandini and Hancock, and
Messrs. -Farquharson, Sherwin, and Conlin. The
season, which is only to last a month, opened with
Maritana," which was very satisfactorily repre-
sented.

SYDNEY, ALBURY, SEPT. 14.

I send you Sydney news up to last Friday even-
ing. The principal political topic of interest was
the second reading of the Electoral Bill, which had
been moved in the Legislative Council. The debate
had continued three nights, and the house was still
engaged on it when the despatch left. M. Plun-
kett is likely to be returned for the North Riding
of Cumberland. Moyse, who was convicted of the
murder of the mate of the Oliver Jordan, was
hanged on the morning of the 7th, at Darling-
hurst.. The convict met his death with fortitude,
and was apparently penitent. He did not confess
his crime, but admitted that he had led a wild life.
He asked the Rev. Mr. Threlkeld to write to his
only relative,—an unmarried sister. The Herald
considers that his life should have been spared.
There was great excitement prevailing in conse-
quence of the news from the Port Curtis gold-field.
Twelve vessels were laid on for that port. There is
no advice with reference to the flour market. Capt.
cadell has succeeded in navigating the Murrum-
loidgee up to within 20 miles of Wagga Wagga,
which place he expected to reach on the 10th inst.

WARRNAMBOOL, SEPT. 14.

A melancholy and fatal accident, by which three
lives were lost, occurred off Warrnainbool to-day.
About half-past ten o'clock this morning a fishing
boat containing four men capsized, one mile beyond
the five fathom bank. Three of the men were
drowned, the remaining one being saved.

GEELONG, SEPT. 14.

Some curiosity prevailed to-day in the neighbour-
hood of the Police-court to ascertain the result of
Mr. Bashford's re-application for a publican's
license. There were altogether 15 magistrates on
the bench, and after a variety of opinions had been
enunciated, it appeared that nine were in favour
and only three against the application, while three
remained neutral.

THE BRITISH ARMY IN INDIA.

(FROM THE TIMES' SPECIAL CORRESPONDENT.)
BOWLEE, IN BUSSAHIR, HIMALAYAS,
SEPT. 14.

It can scarcely be expected that in my present
locality I can collect any very useful or important
information respecting the progress of events in
Lower India ; but such inteligence as I receive
tends to confirm me in the belief that our rule is
gradually acquiring its old strength and re-assert-
ing its supremacy with daily increasing vigour and
success. The gallant affair of Colonel Robertson's
column in Central India cannot but produce a most
salutary effect on the disaffected. Nearer to the
north swift punishment has overtaken the madmen
of Mooltan. The Sultanpore district, in Oude,
which lately swarmed with rebels, is now so quiet
that Sir Hope Grant was, by our last accounts,
about to ride to the shores of the river opposite
Allahabad, and to cross over to the quarters of the
Commander-in-Chief. The surrender of the Rajahs
of Rampore and Shahghur is a most significant
index of the state of the insurgent cause, and
of the prospects of their leaders. But few,
indeed, except those who despair of mercy,
are arrayed in arms against us outside the king-
dom of Oude, but it cannot be denied, never-
theless, that we have taken over the charge of the
Indian Empire from the Company in troublous
times. Let her Majesty's advisers take good heed
lest it prove to the Crown a " damnosa hereditas."
India is not secure, and it never can be securely ours
till a great change has been effected in the feelings
of the people and in the machinery of Government.
True it is that India has never known a rule under
which she has enjoyed so large a measure of peace,
prosperity, f. ecurity to life and property, and justice.
True it is that, whatever may be the objections of
Hindoo or Mussulman to our persons, our manners,
our religion, • or our institutions, they will admit
that our rule has in general been just and our pur-
poses high. They may dislike the Englishman,
but they must allow the Sircar Company has been
in the main an able, a powerful, and a just Govern-
ment. But that is not enough ; for the future
there must be changes in the whole system of
Government and in our social relations with the
people of India, and it must be established in
practice, as it is proclaimed in theory, that the
time is come when India shall be, governed for its
own good; and not for the advantage of a small
fraction of a small class of Englishmen.
The native prophecy has now been justified. The
rule of the Company lasted 100 years ; it has ceased
to exist in the very year which popular seers and
popular passions fixed upon for its extinction, but
in its place has- arisen the throne of England, and
the same race under a different name and aspect
will hold sway over the vast provinces and the
myriad populations which have been given to us in
trust for some greater purpose than the growth of
indigo, or the cultivation of sugar and cotton. It
will no longer suffice for us to be content with the
limited credit which may be derived, from the com-
parison of our administration with that of Akbhar
or Aurungzebe. After a long and troubled infancy,
India has been weaned, and is now handed over to
the Imperial Government. But it has been weaned
in tears and in blood ; it is torn by fierce passions,
and it will require many a year of anxious care
before the effects of the contest have been effaced.
We are now for the most part engaged in pro-
viding restraints and taking security against
future excesses. In these very securities there is
danger. In providing them we are exhausting
our own means of self-protection, and in doing so
we fail to do all that is required, for we still feel
the necessity of using the native element in large
proportions. As we have used it hitherto that
element is full of hazardous matter. I venture to
say that if the history of the Bengal army were
written battalion by battalion, it would be found
that nearly every regiment in it sometime or other
had been disaffected and was tainted by traditions
of disorder and infidelity. But there was a great
conspiracy on the part of the Company, of its
officers, and of the officers of the Queen's army
to keep the country in the dark as to the real
state of affairs. General after general lavished
encomiums on an army which they now say
they always knew to be unsound. General order
after general order lauded the conduct of regi-
ments in the field wherein the sepovs had behaved
notoriously ill ; Governors-General one after the
other praised the army which was their secret fear
and dread, or left India in ecstacies at its fidelity
and discipline, till one more cautious, sagacious, and
foreseeing than his predecessors told them that he
left them without any just ground of complaint.
As to the personal courage of the natives of India,
either Hindoo or Mussuhnan, there is ample evi-