The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1866-11-21

Depression i'm Trade and Troubles in Politics.
PANAMA, Nov. H. 1858.
The steamer Kiakoura, which reached Panama on the
9th inst brings dates from Australasia to the 9Th Of
October Sydney papers received TO October which
state that the New south Wales Parliament still
sion and had passed several measures OF domestic utility
On the 9th Of September the Treasurer made his nan
cia statement Of the affairs Of the colony and the facts
revealed were Of gratifying character The deficiencies
Of formor years have been in great part made
MP and the ordinary not only meets
the current expenditure, but leaves handsome
balance IN hand. At the close OF tho present
year there will be estimated surplus of moro
than f70OO0 and the revenue Tor the year 1857 est
mated ut two millions and quarter stering which,
after deductng the expenditures present estimated
would leave surplus Of f310 900 at the close Of that
year. Very satisfactory have been made
for meeting the interest on the public debt and the
government have felt justified In entering into further
contracts to the amount Of f26o0o0 for railway exten
sion. The pressure that felt from the scarcity OF
money and tho extreme caution exercised by the banks
has greatly relieved by the proceeds OF increased
TAXATION and there Is not the least doubt that the
colony has passed triumphantly through the almost
precedented monetary crisis that has been felt all
the world Some commercial failures have occurred as
establishments In the colony have hitherto remained
firm, and although shipwrecks and other casualties have
large drafts OF the insurance offices, all
responsibilities have been faithfully discharged.
The state OF commercial affairs throughout the whole
OF the Austraasian colonies one OF depression,
sutng In part from the effects Of the panic in England
but great degree from local causes-drough loss OF
stock and failure Of crops Tho failure OF the breadstu
crops tho most severely felt as in order supply
the deficiency the colonies have been obliged TO draw
heavy supplies from Chile and the United States Ameri
goods OF Eastern manufacture in OF the
demand, but prices ruled firm IN anticipation Of an in
creased activity In trade.
The political intelligence from New Zealand Is uhim-
portant Parliament prorogued on the 9Th OF Octo
Der. The new ministry had succeeded In passing It's
favorte measures The Maori was still waged
Several srmishcs had recently taken place between the
government forces and the rebels in which the former
generally successful In the last encounter the
Hau Hau's were soundiy beaten
Referring TO the winding up Of Parliament the S,hern
oss of Aukiand says:-As tho session Is drawing TO
close the business before the House increases ana the
real work OF legislation Ia being scrambled through.
n Is quite hopeless TO attempt TO stem the tide
OF extravagance which nothing but the extraor.
binary elasticity Of tho country has enabled Il
godncs arc productive and the great bulk Of the popu
ation remain indifferent TO pocs, 80 long will the OH
cal classes and the squatters uphold lavish expendi
ture but should any change for the worse take place
there must be total collapse OF the administrative sys
tenn 1t costs LOCO 600 sterlng In round numbers,
govern two hundred thousand souls and yet the ave-
rage Of crime Is lower in proportion to the population,
than in many countries more economically ruled.
The tariff imposes duties upon articles or Ameri
manufacture heretofore imported free as follows
Wooden buckets Is per dozen; wooden doors Is each
other mineral oils Cd. per gallon; sash windows, per
pair IL. wood tubs, per nest Is turrensine. 3d. per
gallon; lumber, sawn, per hundred superficial feet, Is
shingles and iahs per thousand Is palngs, per hun.
dred us posts, per hundred, a. rails per hundred,
Is; tar per barrel, Is nails, per cwt., ls