The Sun.
London, England, 1858-05-04 00:00:00

THE GOLD FIELDS.

As was the case last year, the gold returns for
the first two months of this year exhibit a serious
falling-off from the quantity produced in the cor-
responding period of 1856. There is also a decrease
in the quantity raised since the opening of the
current year, as compared with 1857. In the pre-
sent condition of mining in this colony, fluctuations
in the quantities of gold produced are to ha looked
for, the cause being aitrihutable leis to any defi-
ciency in the natural wealth of our gold fields th-Ln
to the unsettled habits of the miner', and the very
wasteful manner in which they work. New dis-
coveries of auriferous deposits are constantly being
made, and, if none of them equals in richness the
gold-fields which were first worked, the proofs
woich they furnish of the dispersion of our mineral
treasures over almost the entire colony are highly
satisfactory, as indicating an illimitable field for
the present and future employment of capital and
lab,ur. Indeed, there is already ample evi-
dence to show that the generations which exist
will all be exhausted long before the gold
deposits of Victoria have cease l to yield a profitable
investment for the labour of the working man. But
that labour must be more economised than it is at
pre en,. Now, it would scarcely b-3 an exaggera-
tion of fact to state, that of the thou•mtids who live
by gold digging a very large proportion waste their
time and what money they may have in joining in
rushes, and in the idle and unproductive habit of
" shepherding."
The close of the year saw the colony, with regard
to its gold produce for the previ,tus twelve months,
at a great disadvantage as compared with its posi-
tion at the end Of 1856. There was, in fact, a fall-
ing off on the year to the extent of 274,750 oz. We
began the next year badly, the escort returns for
January showing an adverse balance against the
month, a 4 compared with the corresponding period
of 1857, of 42,698 oz. Last month's returns also
exhibited a comparative decrease of 12,016 oz. We
will now proceed to compare the quantities received
at Melbourne and exported during the last 'four
weeks, with the produce and shipments of the,cor-.
responding weeks of 1857.
The escort returns for the two periods showed
the following results :

1857. 1858.

cz. Oz.
Week ended Feb. 20 . 48,032 ... 45,997
)1 Feb. 27
PP March 6 57,124 ... 47,854
PP March 13
169,686 168,871
168,871

D crease

816

The shipments during the two mon,hs, when
compared, are considerably in favour of this year.
Tbo customs returns of gold exported, fur the four
weeks ended the 13th Marcb, were-
-1857. 1858.
Week ended Feb. 20
I I Feb. 27
I March 6 67,069 ... 32,731
ft March 13

192,431 ". 209,212
192,434

Increase

16,773

The following ships have sailed with gold frieghts
since our last summary :—Feb. 15, Simla, for Suez,
33,514 ozs. ; Feb. 16. Invincible, for Liverpool,
16,191 ozs. ; Feb. 24. Swiftsure, for London,
80,050 ozs. ; March 1. Medway, for London,
9,593 ozs. ; March 4. Hebe, for Hong Kong,
5,546 ozs. ; March 4. Oithona, for Hong Kong,
5,076 ozs. ; March 5. Indemnity, for Loudon'
11,130 ozs. ; March 9. Red Jacket, for Liverpool,
40,234 ozs.; March 11. Pericles, for Calcutta,
1,359 ozs. ; March 11. Jupiter, for Hong Kong,
5,467 ozs. ; steamers for Sydney, 1,026 ozs. ; small
shipments, 36 ozs.-209,212 ozs. Amount shipped
from Jan. to Feb. 15, 302,207 ozs.--total amount,
511,419.
A rise has taken place in the rates of exchange on
London, consequent on the advance in the price of
go'd. In presence of an inadequate supply of the
thei
precious metal, it was found impossible to keep
price down, as the urgent demands for shipment
placed buyers in active competition with eeaceehe,ohtnow.
Should the yield of gold continue to increase,
ever, we may expect to learn thata returnncr to pre-
vious rates will take place. The banks now issue
at 1 per cent.
drafts on England,l premium. Drafts
at GO days'isight,
premium •, ditto, 30 y
(Ida sar. Freight on gold,
against gold purchase atep ounce .
, per overland
per sailing vessels, 3et
mail steamers, per cent., t deliverable to the bul-
lion-office,
Bank of England. Insurance, 1 per
cent. ; and overland, 1/- per cent. Bank rates of
discount : 8 per cent.
onLbills having less than 95
days
to run, and 9 per cent. beyond 95 days' cur-
rency. Over 125 per cent. days,
10 t.
The charge
on overdrafts is 12 per cent. Freight on gold trans-
mitted by the overland route, /percent. Insurance
11 to 11 per cent.

rates

the l j

at th
aulon

same

M's 3
surge,

Thy
last s'
cial
aspcc.

Alice

ca,Ai
the 1

TRADE AND COMMERCE.
During the past month the condition of commer-
cial affairs in Victoria slightly improved, in conse-

-: -qnPnce of-our merolu& a-and-ttwlersbaVirte,' Mel ; _
favourable in :•11iomee-7-,'Opeoliii/Abe'proesecliogs
of English shippe:s f ir.-liglimy the month of Nov.,
' 1857. The manifest failing off in .tbe exports to
this colony which tolK place-in that Awn* led to •
the impression 7 hat th3warniugSand expostulations.
which had been addles ed tohome spectilatorsfrOm
time to tizne had at 1-ngth prOdue.3d arbe,neficiakre-.,
suit. The effect of 'he a.dvices thuS received was to
cause increased activity in our import.markets, and.
to check the downward tendency of prices. But we
regret to state that- the 'mercantile news to hand
by the European has again brought about a depres-
sion from which it is. not- probable that our
trade will revive, until it definitively !appears that
English exporting firma-have i determined to regu-i
late their-transmatictris-vrith- -a--more-cautious refe-
I rence to our actual= reqUiremehts.: to t 'would be
difficult, if not. impossible,- to point attention to a
single article of merchandise which is riot held in .
excessive quantities; and it •therefore.need occasion
'very little surprise that' buSiriess: is frequently
brought to a complete stand-still, - -or 'that; forced
Sales are effected to. the prejudice of the! whole"
trading 0-immunity. -We would, ,tiOWeVer; 'Once
more assure our friends at, home thateur powers of
consumption may new be regarded as ''infinitely
more limited than they were two years lot even a
year ago. The habits of our'population bi-ta,
totally changed, for we see nothing of that.reekleris
extravaganco for which some of the inhibitante:ot
the colony were once ceieloTaed ; and . Welnight
safely feat assured that the variations
:in '.prices
which have arisen ont of the extraor.linary; flattua-
tions that have taken place in the inquiry, are not
likely to be produced henc4orerard by the super-
fluous demands of coosumer.e. In the local market
for ale, &c., a goodbusine3s has been done, through-
out
the' week, in bulk goods; and holders of every
description of brand have, owing to the scarcity of
Bass'-, been enabled to place portions of their stocks
at full quotations.
,Bottled ales, d-c., have,nOtbeen. ,
in extensive demand, and few sales have been of--_
fectel at a bigher figura th
,ii 10s. Gd. for the
most approVed qualities, .-, Buitter has com-
manded a tolerable sale at 15d., but, in con-
, sequence of the news to hand, per EUropeab,
respecting this article, holders are likely to
submit to a slight reduction on that rate. Bel-
mont sperm
,canoles are quoted at 141 to 14id.,
and are not readily saleable. Cheese of very prime
quality is in fair request at 131 d. to 14d. The
Eastern produce market has not experienced any
material change. Ooasiporo sugar is worth 631. ;
crystals, fine, are in many instances held for 491. ;
and counters range from 391. to 421., in a firmer
market. several large parcels, of inferior and
damaged tea have been brought for wardfor prompt
sale, to the prejudice of importers,
,and prices of all
varieties have receded. Patna rice May:be quoted
at 18!. to 191. The articles under the head of oil-.
men's stores; which have been in continued request . .
at satisfact,:ry rates, are bottled fruits, jams,.
pickles, and mustard, all of which command buyers.
In the wino and spirit market prices, are still low.
Marteh's brandy cannot be placed at a higher figure
than 14s. Gd., and is generally selling: at 14s. 3d.
Old Tom and Geneva bring reduced prices, the for-
mer nOt being saleable, in else, at more than
15s. 63., and the latter at 16s. Gd. Port wines are
i mproiing in-value,--but--other descriptions barely
cornm4nd last month's rates. In the money mar-
ket capital is freely offering, on first-class security,
at 10 to 121 per cent. Business iu the stock and
share ile-

iced

arket has been very gool, ana
,brevious

;ave been exceedingly well sustained.

i SYDNEY.
The' elections in New, South, Wales were over,
and a large number of new men had been returned.
The Pp.rliameut was to re-assemble on the 23d of
March. Nothing of political importance had taken
place during the ba,nth. •
The; f‘,llo wing ships had arrived at Sydney :—•
From. Loudon : Ociavius, Feb. 10; Cairngorum,
Feb. *.i ; Union, Feb. 28 • Lismoyne, March 2 ;
Omar : Pa;fria;- -MTircir a From Liverpool—Queen
of this Avon, Feb. 27. From Plymouth—The
S leboitheath. From Glasgow—The T. E. Millidge.
A frightful story of the immorality prevailing
among the young women on board the emigrant
ship Stebonh,,ath during the voyage was told by
the witnesses .who were • called on the inquest,
held n
it the b .dy of Ann Cox, aged-18, one of
the i inisEant,,. The matnin and surgeon of the
ship

erd strong in their representations, and
- -

y returned a verdict in which they-said :

e express our severe censure and displeasure
disgraceful immorality that his existed
the single females and the crew►. At the

ime, we highly commend the conduct of

ase, the matron, and Mr. Rowiand, the
D."

Sydney Morning Herald says :—" Since our
inimary, the present state of our comma-
s has assumed a soaiewhat troubled
The monetary crisis which has taken

in England, New- York, and on the conti-
has temporarily affectel us. Our large mer-

houses- are sound and unaffected, although
imours, without any foundation, have for
t month been industriously spread as, to

TO ORLD
THE SPORTING W.
AND GROUSE
DEER STALKING
SHOOTING.
The undersigned is at 24, BREWER-STREET, REGENT-
STREET (in a line with Glasshouse-street), until the 10th
July, with all the necessary Clothing for Deer Stalking,
Grouse Shooting, and Salmon Fishing ; and some new and
beautiful Tweeds for town wear, &
Wincec.
Plaids, 'Tartans, Socks, Cloaks, ys, &c.
A large 'stock of the famous Highland Cloaks, for town
and country use, and for Deer Stalking.
The favourite Flora Macdonald Cloaks for Ladies, in all the
fashionable colours.
The Highland Dress made up.
Room open from two to six o'clock, until the 10th July,
'When Macdougall returns to Inverness.
May, 1858. D. MACDOUGALL, of Inverness.