The Sun.
London, England, 1859-05-23 00:00:00

THE GOLD FIELDS.

The events of the last few weeks prove that
although the difficulties and cost of mining, in
proportion to the average returns obtained, have
been annually increasing, our gold fields in reality
as yet show no symptoms of exhaustion. These
difficulties and the waste of labour have arisen from
the tendency of numbers to crowd tog ether on spots
where but a few should have been engaged, instead
of systematically exploring and prospecting the
diggers r surrounding nhdei
iringgalso
precarious, country.
r The returns to the actual
carious
instances very hard, and there e ande theig besides,work in manyeven
forup taosstoheeiaptn
present
and for
ntm moment, great want of facilities
obtainingo legislationthe aid of
notwithstanding all capi-
talists,
very many men who commencedteir on th e
subject,carter
as miners have become storekeepers or traders, so
that every branch of business on the gold fields is
completely overdone, sellers and the usual purvey-
ors to the wants and amusements of a people being
on all the principal centres of attraction, as nume-
rous as the buyers and producers of the wealth to
be spent. Absolute necessity has at length forced
the miners to bestir themselves in the way of seek-
ing fresh ground ; and we have now to record some
discoveries equalling in extent and richness those
made in the more prosperous days of gold digging.
In addition to several discoveries of lesser note,
three new leads or runs of gold have been opened
up in different parts of the country within a very
short space of time, and are now affording occupa-
tion to many thousands of miners and their fol-
lowers. Of these the most important, not only from
the probable yield of the one spot of ground, but
also from its affording an indication of the rich dis-
coveries sure to follow, is the deep lead found at
the Black Dog Creek, near the Indigo, in the Ovens
district, and generally called New Ballarat. But
few shafts on this have yet reached the bottom ; all
those that are down, however, show that the lead
is a rich and a wide one. This was found by a pro-
specting party from the Indigo, fitted out at the
public expense, or rather by a party which con-
tinued the sinking of a shaft after it had been
abandoned from want of funds. This is now the
second deep lead opened up in a district long famous
for its surface richness, but in which no deep leads
were supposed to exist, and doubtless many more
will still be found. The district is also very rich
in quartz-reefs, and although the workinc, of these
may be said to have scarcely commenced yet in
earnest,alreadythousandstonslying
the shafts, but unavailable to
the miners for want of machinery to crush it. There
is only one crushing-mill in operation as yet, and
the quartz passed through it has yielded an average
of 5 oz. to the ton ; so this district is likely to be-
come as famous for its quartz-reefs and deep sink-
ings as it was formerly for its extensive sluicing
operations with surface soil.
Two other very extensive " rushes," as they are
called in mining phraseology, have occurred—one
to the Back Creek, near Amherst, in the Mary-
borough district, and the other to Commissioners'-
hill, close to Ararat. Greater numbers of men have
collected at these two places than have been
attracted to any of the spots opened on the old
gold fields for some years past. The deposits at
both are rich and extensive. During the excite •
ment of first taking possession of a promising field
for mining operations there is sure to be much
exaggeration, but there can be no doubt that both
leads will afford occupation to a large number of

persons, and that they are also very rich, at least
in patches. The miners have of late been content
to earn a fair living, but on these leads they are
beginning to talk again of " homeward-bound"
claims, meaning thereby claims the yield of which
will enable them to pay a visit to the old country.
However that may be, it is certain that the dis-
covery of new and extensive tracts of paying
ground in so many different parts of the country
will prevent the necessity for crowding together in
spots of limited extent, and that the miners will for
some time to come have room for choice, and will
therefore do more work, and be better remunerated
for what they do. This and other reasons lead to
a confirmation of the belief that gold mining has
been at its lowest ebb, and that for the future there
will be a progressive improvement in the circum-
stances of the miners themselves, and of all con-
nected with that interest. Up to the present time
the escort returns of this year have showed anin-
crease on the average yield of the same period of
last ; and there is now something more than a
probability of this increase being maintained, and
of our export of gold soon swelling to its former
amount.

AGRICULTURE.
At this season our farmers, after the hard work
of harvesting their crops, devote themselves for a
time to the lighter part of their business, and hold
exhibitions of stock and produce. The Melbourne
Grain Show is to be held at the end of the present
month, and is expected to be well attended, al-
though the samples of Victoria grain will scarcely
be as fine as usual. So much rain has fallen at
different periods during the summer that much of
it is discoloured. Many agriculturists are now.
thinking of gradually converting a portion of their
cultivated land into vineyards, and as an incentive
to a little emulation in this direction, the Mayor of
Melbourne has presented a silver cup, to be offered
as a prize for the best 50 bunches of grapes exhi-
bited at the coming show, and the society is, for
the first time, offering prizes for the best samples of
Victoria-made wine.
There is a general complaint among the millers
this season that the new home-grown wheat is net
so good as usual, from the cause before mentioned,
and they are, consequently, giving a preference to
wheat from South Australia, and at a higher price.
Grain and other produce are comparatively abun-
dant throughout the interior since harvest, and'
prices are therefore declining, and approaching
somewhat more nearly to those ruling in the sea-
port towns. Indeed, potatoes are so plentiful in the
Ballarat district that they have been a complete
drug in that market, unsaleable at much lower rates
than they were fetching in Melbourne.
The alpacas shipped from England in the Goddess
arrived four weeks since, without much loss on the
voyage, and are now in a small paddock adjoining
the Botanic Gardens, where they may be seen eat-
ing the coarsest weeds with as much relish as white
clover or the tender shoots of young grass. They
seem very indifferent as to the nature of their pas'
ture, and if their constitution can adapt itself t 0
our climate, they will find an abundance of food
in
plants which none of the ether domesticated toll'
mals will touch.

RAILWAYS.
A general meeting of the shareholders of the
Hobson's Bay Railway Company has been held, to
consider the propriety of paying to the St. Oda'
and Brighton Company, at an earlier time than
first intended, the sum of £5,000, which it was re-
solved at a former meeting to hand over to that
company on the completion of their line. A res o-
lution was passed at the meeting to authorise tile
directors of the Hobson's Bay Company to pay this
sum at such earlier times, and by such instal-
ments, and on such terms, as they might deems
expedient, taking security for its repayment .
the event of the works not being complete"
or the contemplated traffic arrangements not being
carried out. It was stated by one of the directorof the Brighton Company at the meeting, thatoade
believed their line would be completed by the m
of August next.
The first completed portion of the Suburban C°llll4
pony's line, as far as Richmond, has been now open
for traffic during some weeks, and on this, as on
the Government lines, the receipts are much larger,
than were calculated upon. It is the express?d
intention of the directors to proceed with the works
as fast as they can, and carry the line across
Yarra and through Prahran, until it joins the line
to Brighton.

COMMERCIAL INTELLIGENCE.
The number of treasure ships despatched has been great,
but the gold shipped has not kept pace with the ships :
each vessel has taken a smaller proportion. There has not
been much briskness among buyers, and the same price/
have ruled throughout the month. The great bulk of this
trade is confined to the gold-fields; but the Melbourne
brokers quote transactions at the following rates, viz.
Omeo, 68s. to 71s. 6d. per ounce ; Pleasant Creek
an,
Goulburn, 745. to 755.; Castlemaine, Sandhurst, an, u
Jim Crow, 755. to 765. ; Ararat, Maryborough, DunVY'
Fiery Creek, Avoca, and Amherst, 765. to 7'B';
Ovens and Yackandandah, 765. to 78s. ; Ballarat, 775. 6d.
to 78s 6d. ; Goulburn River and Livingstone, 675. to 725' ;
Boggy Creek, 755. 6d. to 765. per ounce.
The escorts this year, with few exceptions, have been
below the weekly average of the years 1857, 1858. Just
now the quantities despatched from the majority of the
gold-fields are fluctuating. The weekly average of the re
1857 was 47,670 ounces ; of the first quarter of 1858, 41,925
ounces; of the second, 45,290 ounces; of the third, 48,235
ounces ; and of the fourth, 43,917 ounces. Last week the,.
total quantity sent down was only 33,680 ounces, agains`
43,351 ounces for the corresponding week of last year. Tht
total for the year is, however, still in excess of the total of
the same period of 1858.
The money market has been almost without fluctuation
since our last monthly report. Capital has been abundantli;
offering on mortgage, and for investment in the shares °l'
local joint-stock companies of standing and repute. The
banks' rates of discount are—For bills under 90 days cue
rency, 8 per cent. ; from 95 to 125 days', 9 per cent. • ode
.'
'
125 days', 10 per cent.; and on overdrawn'aceounts, 10 per
cent.
Exchange on England is at par for 60 days' sight Or
large amounts, and at 1 per cent. premium for 30 days
sight for bills under £5O. Freight on gold by sailing ves'
sels is from 20. to 3d. per ounce, deliverable in London;
insurance, 1/ per cent. By the overland route the fre.ig2l.
to the Bank of England is 1 per cent. ; insurance 11 Per
cent.