The Sun.
London, England, 1857-11-19 00:00:00

COMMERCIAL INTELLIGENCE.

For the last two months the import markets have been
characterised by an almost unrelieved stagnancy. The
specu'atien which was so rife previously had transferred
large stocks of all our staple articles of consumption
into second hands, and as no opening for speculative
operations have offered for many weeks, importers have
not been able to quit at a rate commensurate with
the constant arrivals, and stocks have again accumu-
lated on first hands. The stores, banded and free, are
overcrowded with goods, a large amount of capital is
kept idle, and importers generally are oomph Lang
of the impossibility of realising froin the absence of a
de nand pr 'portionate to the supply. This state of things
must continue, unless on the one band, the reckless
strippers at home can be induced to withhold consign.
ments, or on the other, the consuming power of the country
can be increased three or four fold. While over-produc
tion is maintained at the present rate, the former will be
utterly impracticable. The excessive stocks must be forced
into market somewhere and shipments on speculation
will continue as extensive as we now find them. Unfor-
tueately, while the public funds are expended freely in
encouraging immigration, but little care is taken to find
employment for the crowds of new arrivals constantly
pouring into our ports. The average consumption of
goods of all kinds is net sustained, because hardly a
tithe of the 10,000 who have entered the colony during
the last two months have found occupation or adequate
means of support. Hence, while the population numeri-
cally increases at a rapid rate, the scale of consumption
is declining, for with increase in numbere comes more
general impoverishment.
One rea,on of the non-fulfilment of the hopes which
were entertained at the commencement► -F the winter, has
been the lung continuance of dry weatLe. ktusiness on
the diggings has been greatly depressed,`: cause.
The men have been compelled to work for teeny months
without realising—there being no sufficient supply of
water to enable 'hem to " vra,h up." Hence they have
lived very largely on credit, thus drawing upon the re-
sources of the storekeeper, whose limited cash means
have prevented him from recruiting his stock by acces-
sion from town. Up-country trade has accordingly been
confined for the most part to absolute necessaries, and
restricted to tbo available means of the retailers and con-
sumers. There is, however, some prospect of improve-
ment in this direction. Abundance of rain has hated),

fallen on the older diggings, and theprocess et" washing
up," which will probably put all parties in funds, has
commenced.

GOLD —The new gold-field at Mount Ararat is likely
to fulfil the expectations which have been formed respect-
ing it. The population is estimated at from 40,000 to
50,000, and the second fortnightly escort, which arrived
in town on Monday last, is reported at 17,370 oz. The
heavy rains which have fallen on most of the older dig-
gings have enabled the men more generally to realise on
the stuff which has been accumulating around the

puddling machines, the quartz crushers, and elsewhere,
for many months past. And as they wash off it is
expected that the regular returns will show a steady
and continuous increase. As illustrating the permanent

value of our diggings, we give the following comparative
statement of the escorts for the last six weeks of the
current year, and the six corresponding weeks of 1856.
Week aiding 1857. 1856.
August 7
„ 14
„ 21
i• 28
Sept. 4
„ 11 ... 49,828
The gold ships which have left this port since the date
of our last summary are the following :—July 16,
Columbian for Suez, 46,171 oz. ; July 25, King Phillip,
for London, 30,835 do. ; July 25, Jason, far Calcutta,
2,307 do. ; July 25, Scotia, for Calcutta, 1,603 do ;
August 5, Avon, for London, 61,658 do ; August 7,
Heather Ball, for London, 19,647 do ; August 7, Ocean
Chief, for Calcutta, 4,088 do ' • August 7. Daniel Ross,
for Hong Kong, 10,472 do ; Aug. 12, Royal Charter,
for Liverpool, 83.593 do ; August 15, Seringapatam,
for Liverpool, 12,180 do ; August 20, Eranee, for
Calcutta, 1,696 do ' • August 22, Kitty Simpson. fur
Hong Kong, 8,458 do : August 22, Texas, for Hong
Kong. 5,857 do. ; Sept. 2, Essex, tat London,
105,255 do ; Sept. 5, Eleanor, for Hong Kong,

4,000 do.
The total amount of gold shipped since the com-
mencement of 1857, including the shipments to the
neighbouring colonies, has beau 79 tons 1 cwt. 3 qrs.
20 lbs., 11 oz., which at 80s. per oz , gives the value of
7,636,6021.