The Sun.
London, England, 1857-01-13 00:00:00

TSB AUSTRALIAN TRADE.

An Australian Merchant, writing to a contem-
porary, says :
As it appears to me that those trading with Australia
run a great risk of having to pass through an ordeal
similar to that which tried so many of our incrchants two
or Ore:, yearn ago, I have taken the liberty of jotting down
POMO of the data on which my opinion is founded, allow-
ing yon to give publicity to those facts if you think proper.
The letters which have been received from Melbourne
for some months back have been evidently written under
the impression that shippers in this country were likely
to overstock the market. Those brought by the Mont-
morency mention the opening of a brisk spring trade, but
state that " prices have not as yet advanced ; nor, with
the very large import our markets have latterly groaned
under, can increased rates at present be looked for." The
imports into Melbourne are stated to amount, from the
Ist January to the 13th September, 1856, to 8,752,6011.,
whereas, for the same period of 1855, they were only
6,951,328/. But when the imports of the last two months
of each of these periods are compared they show that
1856 bad exceeded 1855 by at least 37 per cent.
Will it be believed, then, Sir, that the exports from
this country to Victoria have been increasing evqr since
the last date referred to ? Yet such is the case. The total
exports from London, Liverpool, and the Clyde during
the year 1855 were 2,694,463/. in amount ; whereas, for
1856 they are 5,076,830/. Every article of export, soft
goods, boots and shoes, brandy, British spirits, malt
liquors, dried fruit, cheese, butter, appear to have been
shipped in excessive quantities latterly. But not to trou-
ble you with details I may give one or two facts (illus-
trating this statement) with reference to butter, which
continued to pay exporters for a long time. In Septem
her last it became wretchedly dull of sale in Melbourne
for they were then beginning to receive the shipments
made from this country in June last, which were no less
than 9,461 cwt. The legitimate export of it appears to
be 3,000 or 4,000 cwt. per month. Consilerably above
this quantity has been exported since last June ; but
what may be expected to be the value of the article
abroad when they receive the shipments of Dec., 1856,
which reached the enormous quantity of 8,708 cwt. ?
During the first quarter of 1856 the exports from Lon-
don, Liverpool, and Clyde to Victoria averaged under
300,0001. of value per month. But they have in the
subsequent months of the year varied between 414.000/
and 583,0001. per month. In Dec. they were 526,7241.
This excess of shipments appears to arise from the fact
that too many people are engaged in exporting to Aus-
tralia. If every person who has adopted this business
ships to some extent the markets must be overstocked ;
but, in addition, a great many occasional shippers are
still tempted to make an adventure whenever they see
an article reported in the prices current at 25 or 30 per
cent. advance on invoice cost, forgetful that a deduction
of 15 to 20 per cent. has to be made from the amount
sold, in the shape of packages, freight, insurance, inte-
rest, commissions, &c. This process leaves nothing but
a moderate profit in a market where such risks have to
be run, and whence remittances are so long coming,

ROYAL INSTITUTE OF BRITISH
ARCIiITECTS.