The Sun.
London, England, 1857-08-31 00:00:00

lit ii'

[PRKni STAMPED sThd:

demand vigilance. :For, instance,. if coincidently
with moderate degree of pressure on-our- money-
.miarket to meet future instalments there should be
an undue increase of importation, so as to impair
the saleableness of good 4, that moderate pressure
would s-on become immoderate, and we should
have another commercial crisis. .
;As to the demand for capital to carry on the great
trunk railways now projected, this feature should
be noted. Taking the average state of our re-
venue for the last three years, the colony is in
a condition to meet a legislative pledge to
make the interest a first charge on the revenue—
ordinary and territorial. Ten millions will be re-
qttired, but not in one year. if we vote 600,0001. as
a first charge to meet interest at 6 per cent., at the
present rite of 6 per cent. debentures that vote
would raise 10,500,000/. But if we pour, from
1,500,0001. to 2,009,0001. on the market every year
for the next three or four years, we may expect
some decline in the price of the security, simply be-
cause interest of money would necessarily rise, and
that decline of price would cause them to be more
sought after in the London markets. If the Govern-
ment seeks its market here, a large propoition of
these debentures would, no doubt, find their way to
England as remittances, so that, although in the
first instance we shall borrow here, the ultimate
lenders will the English capitalists. If we secure to
the lenders the due payment of the interest on the
capital expended on railways, it is of little import-
ance to them whether the railways pay a dividend
or not. The lenders do not depend on the profita-
bleness of the enterprise as shareholders would do.
They are in the position of the English lenders to
the Government for the purposes of war expendi-
ture. I will even go further, and assert that to us
the profitableness of the undertaking is of secondary
importance.- If the railways pay the annual expense
of management, together with wear and tear, they
may afford a great national gain, and may greatly
promote the increase of national wealth by the sav-
ing of the cost of transport all over the country. At
present the waste of capital in mere transport is
enorm-us. If by an annual charge on the general
revenue of 600,000/. we enable the community to
save three or four times that amount in the cost of
carriage, the national gain is all the difference,
thongh the railway only pays the cost of keeping it
in working order. Our first experiment has been
very successful. Though the Hobsou's Bay Railway,
constructe 1 wit- n common labour was at its highest,
and when all materials were twice their present
prices, cost nearly, if not quite, 100,0001. a mile, it
pays a dividend of 14 per cent. Ttie St. Kilda
branch, which cost only about 30,0001. per mile, will
pay much more. The former depend= principally on
its goods traffic, the latter svholly on passen-
gers. Our great railways will depend chiefly on
the former, and I believe will pay a dividend at
least equal to the interest.
A census of the population was taken on the
night of the 29th of March. The details are not
yet before the public, but the totals have been
published, and I enclose the statements made up
in accordance with the electoral divisions of the
colony. It will be seen that between 1854 and
1857 the total population has increased from
236,776 to 403,519, being an increase of 70 per
cent. in three yell-F. There is an improvement in
the proportion of the sexes, though the proportion
of females to males is still lamentably small. The
following is a comparative statement of the two
enumerations

• Percentage
Males. Femalee. Total. Females
to 100 Males.
Census of 1854, 155,875 80,930 236,776 51.9
Census of 1857, 253,116 115,403 403,519 56.3
In 1854 there were vary few Chinese in the
colony ; now there are 40,000, all males. If we
deduct these from the males, the population of
European rice will be 218,116 males and 145,403
females, or 66.6 females to every 100 males.
The House of Assembly has resolved, by a clear
majority of the House, 31, which is necessary un-
der the constitution, to abolish State aid to reli-
gion at the end of 1859. This motion was remark-
able as disclo-ing ono of "the arrangements .ou
minor matters" alluded to by Mr. Haines, on which
the present Miuis'ry is acting. Mr. Haines, the
Chief Secret iry, who has always been opposed to
the abolition of the 53d clause, giving 50,0001.
a year in aid of public worship, &c., to Christian
sects, now voted with the majority. So did 0 Sha-
naesy. Though the opponeuts of State aid rejoice
in tLe result, 1 do not think the vote of Haines
and O'Shanassy will do either of them much
ood. The colleazues whom Mr. Baines threw over-
board, and who continue sole" abut It, are Ismer
to sneer at his sudden change of opinion, but
O'Shanassy's vote has silenced the opposition
aeaiust Haines. It is troublesome question out of
the way.
The Government Bill for the management of the
Crown lands has given great dissatisfaction. They
have carried. the second reading by a majority of
10, but it will be greatly cut up in committee. It
is highly favourable to the squatters and injurious
to small c-hpitaliits who desire to occupy land. If
it pass in its present state, no labouring man who
has the least ambition to become a small farmer
should be advised to come to this country, even
though his passage be paid. If he be a mere hewer
of wood and drawer of water, content with good
wages and chest) rum, without any desire to raise
himself, he may come.
The Argus makes the gold shipped amount to
1,236,428 ounces, value 4,945,712/., or about
10,000,000/. a-year. The Herald's account is more.
Mr. Archer, of the registrar's department, makes
the t opularion of Victoria, corrected up to the Ist
of July, 414,000 ; adding New South Wales,
300,000 ; South Australia, 105,000 ; Tasmania,
80,000 ; Western Australia. 14,000 ; and New Zea-
land, 130,000, we have a total of 1,043,000. The
new arrivals this year are 25,800, and the depar-
tures 9,484, making our net gain 16,316 persons.
The European had a very severe passage from
Sydney, which bas delayed her two days more. It
was a sad mistake to send off the Simla as the agents
did. The Governor-General steamer, from Sydney,
was obliged to put back, and has received so severe
a handling from the weather that it is doubtful
whether she will bt seaworthy again.
The Tasmanian Assembly is prorogued. I send
the speech of Sir H. Young :
" Hon. Gentlemen of the Legislative Council and Gen-
tlemen of the House of Assembly,—
" I congratulate you that, for the present, your labours
are brought to a close, and dart*, notwithstanding occa-
sions of hindrance, you have been able to pass some
useful and necessary measures. The progress of public
business could scarcely have been expected to be free from
interruption in the initiation of Parliamentary Govern•
ment, and Tansmania has only shared in the experience
of other Australian colonies; but the hope may be in-
dulged, and is even already justified, that with extended
acquaintance with that farm of government, its principle
and practice will be modified and adapted to local cir-
cumstances, and its successful results will prove not less
than were anticipated from its re-adoption. Among the
measured' which you have passed I enumerate with par-
ticular satisfaction, as being calculated to correct incon-
veniences that have been hitherto felt, or otherwise to
the public service,—
" The Act to restore the jurisdiction of the Court of
Requests for the disirict of Hobart Town ;
" The Act for the better securing the independence of
the judges of the Supreme Court;
"The Act to abolish the exclusive jurisdiction of
certain magistrates ; and
"The Public Works Loan Act, in which provision is
made towards connecting Tasmania by submarine cable
with the electric telegraphs and the main-land of Aus-
tralia.
"I regret that you have not been able to devise any
measure in respect to the sale and settlement 'of the
waste lands in the colony ; but I fully admit and ac-
quiesce in the expediency of posponing till the next
session of Parliament the adoption of any bill on this
subject, as preferable to its being legislated on in a crude
and partial manner, which would require amendment at
a future period.
"Gentlemen of the House of Assembly,—
"I have to thank you forthe liberality of the stiipt;
plies, and to assure you they will be expended
regard to economy, which the state of the finantoeesrev: enlnue
imperative. The period of an appropriation of renders
is so commonly and conveniently fixed a
tshuattihtteedshfoorrtelrBsp7erviioidll parootv,idledh:pne, t hte bl 1 sve months
have
that becomei yao up r
ecvee.
bm
dent.
stHon.G et
inetnl]eemu eonf
theof tabeouLegislative
mCbol7. Council—
and G en-
s" I thank you for the aesidiouds attention you have
given to the affairs of the country urirg a session which
to many,
d. if noti alllt
of you,
protractegratifyinginustto hmave,e
bbeefeonreinconvenientlyo
be enabled to acquaint you that, notwithstanding the
attractions of the goldfields of the adjacent colony, the
census of the present year is expected (from the returns
new all but completed) to show an aggregate population
o 1 nearly 80,000 souls, being an increase of about
10,000 as compared with 1851.
" The commercial and trading interests of the two
principal towns, as well as those of the townships in the
interior, are in a sounder state than they were a short
time since. The markets for the principal produce of
Tasmania, both foreign and domestic, exhibit no symp
toms of decline, but the contrary, and an encouraging
prospect
of ectgenerally opens to the enterprise and the in-
dthe different classes of the community. I
venture to hope that, under the blessing of Divine Pro-
vidence, sour past and future labours may be found to
conduce to the benefit of those you represent by deire-