The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1858-07-04
Affairs In Australia.

THE NKw CABINET-PRoDUCT OF THE GOLD FIELDS
TRADE AND FINANCIAL REPORTS.
We have full details Of the from Australia lately
telegraphed from Suez 70 London.
The dates are, Sydney 1lih and Melbourne 18th Of
March.
The Melbourne Herald OF the 18th Of March Says
0se great event has sgnazcd the political history OF the
past mouth the tall OF the second Haines ministry
and the reinstatement Of Mr. 0ShAnassy the head OF
the sdDnis,T alton. The immediate OF the retire
mept Of the late ministry from Office was vote Of the
Assembly rejecting Mr. Hanes scheme for apportioning
the electoral districts under bis reform bill There
possbie ministry nj the moment except one formed
considerations led the former gentleman accedc to the
proposed terms, and the new cabinet was framed ~ fol-
lcwsChief Secretary, Mr.. Oshanassy Attorney Gcne-
raj Mr. Chapman; Solicitor General, Mr. Ireland Trade
and Customs, Mr. Henry Miller; Land and Works, Mr. Ca
Duffy; Postmaster General Dr. Evans Treasurer, Mr..
Harker.
The sydney Morning Herald OF the 18th Of March Says
Since last summary the present state OF
cia affairs has assumed somewhat troubled aspect the
monetary criss which has taken place In England Ne~
York. and on the Coptineu has temporarily affected
Our large mercantile houses sound aod unaffected, al
though IDLE runors without foundation have for the
last month been ndustrousy spread TO their stability,
but particularly OF thoec WIN In related
orconreced with the houses that have suspended In EGG
land end elsewhere II Ia but fair, therefore, that
should calmly consider present position, and there
grounds Of alarm take every precauon to the
mischief which would inevitably en5ue should monetary
paec take Place here. During the present year and II,
wards the close Of last year. the banks have evnced
eeslre check reckless speculation by partially refusing
the accommodation they 20 literally granted during the
Again even since 1854 the government have been large
borrowers of money, which have been expended In rail
WAYS and other public works These have not yet yielded
any for tho outlay expnded Besides the govern
again In the market borrowers for about
faoo 60 and viii require 70 pay on eebeuiures que in
1888 Goo eco IN 1882 fse o0o aud In $780, cas- COO
The effect Of ali this has been 70 cause scarcity Of money
xety all descriptions Of securities,
sDc has eneed TO bring about decline In bank and other
shares.
THE GOLD FIELDS.
Mall
A the las, year the gold returns for the FIRST
so months Of this year exhibit serious falling of from
the quantity produced IN the corresponding period OF 1856
There aso a In the quantity raised fnco the
opening of the current year rs compared with 1851 In
the present condition OF mining 10 his coloay, fluctuations
ia tue quantities OF gold produced be locke for the
being attributable ese 10 any deficiency In TIE
ura wealth OF our gold fields than to the unsettled habits
OF the miners and the very wasleul manner In which
they work New discoveries OF aurifcrous deposits
CONSTANTLY being made, and zone Of them equals rich
the gold Delds which frst worked, the proofs
which they frnh OF the Dispersion OF cur mineral
almost the entire colony are highly
as cspg an itable ned for presen, aud future
employ Of capital and labor 1nceed there already
pc evidence 70 chow that tie gcnersons which evs,
will all be exhausted long before the gold deposits Of Vic
toia have ceased to yield profitable Investment for the
labor Of the working But that labor must DO more
tccnomsed thsn II n at present.
The ose Of this year the colony, With regard 10 u
gold produce for the previous twelve mouths, at great
disadvantage compared with It's position at tho end Of
1856. There 10 fact fasng on on the year TO the
extent OF We began tue next year badly the
tscoi returns for January showing adverse balance
sgaipst the month, compared with the corresponding
period OF 1857 CT az sos Lsst months roiurus aSo
exhibited comparative decrease OF 120l6 o. We will
proceed 10 compare the quantities received at Mel
bourne exported during the last four weeks with the
produce and shipments OF the corresponding weeks OF
1851.
Tho escort rurns for The two periods showed the fol-
lowing results 10000 1865 los,s7l Decrease,
SIS
The shipments during the two months, when compared
are considerably In favor of this year The customs
turns OF gold exported for the four weeks ended the 1Sh
March, were-is57, ls2,434; 1885, 2o9,2i2 Increase,
1e,17s.
TRADE AND COMMERCE.
During the past month the condition OF commercial AZ
fairs Victoria slightly improved, in consequence OF
merchants and traders having reserved favorable nte
geroe respecting the proceedings OF EugIlsh shippers
brouehout the month OF November, 1851. The manifest
falling off the exports " this colony which took place
that month"; led TO the impression that the warnings
and txpostustions which had been addressed TO home
speculaors from time 10 time had At length produced
beneficial result The effect OF the sdviccs thus received
was increased activity in import markets. and
check the downward tendency OF prices but regret
10 be compelled 10 state that the mercantile W han
by the European has again brought about depression
from which Ia not probable that trade viii revive
until dennitiveiy appears that English exporting firms
have determined 10 regulate their transactions with q
more cautious reference 10 actual requirements. II
would be dcult n not impossible 70 point attention 70
single article OF merchandise which IA not held In excea
sive quantities..