The New York herald., 1869-01-29

Crisis In. the Panama Mall COmpany-The
Pacific Mail Company's OGcr-Worid Fair
to bc Held mt Sydney-News OF the Explorer
Lcichardt-POlyncsian Slave System.
SYDNEY, Dec l, 1868.
The Panama Mail line from this port owing to
the mismanagement and extravSgance OF Its direc-
tory Is In very critical condition, ana 1t is ru-
mored that unless they can secure fresh capital
they will be compelled to wind up the company very
shortly. II, however, they can only succeed In It'd
ing over the next few months the opening of the
Pacific Railroad will enable them to at once become
the favorite and spcediest channel Of communi-
cation between Australia and the mother country,
and to drive the Peninsular and Oriental Company
out OF the field. The latter mail route now takes
forty mine days to perform the through passage from
Southampton to Sydney and forty seven days to
Melbourne; whereas via San Francisco the mails
be taken through from sydney in fortyo and from
Melbourne in fortythree days. All this the Panama
company thoroughly understand; but their present
financial difficulties are 30 urgent, and their affairs
generally are IN such an inextricabe muddle that II
IL regarded by outsiders a. doubtful whether they
can pull through.
The latest rumor In the matter is that the Pacific
Mall steamship Company has opened negotiations
for the purchase OF the steamships and
business. The latter company could GER
corporation, because the Australian mails and
passengefs might be transhipped at Honolulu into
the CHINA steamers, thus shortening the line OF
steamrng to be specially performed very consider
ably a. glance at the map VIII at once make clear.
But, in any case, Americans may feel assured that
In very short time the specie and fast freight the
mails and the passenger trafilc from the colonies
must dow through San Francisco and New York to
Europe. And IL is equally manifest that at no re-
mote date the Australian Continent must be knit by
commercial union with the other great AnRlo-sax0n
people whose shores are washed by the Pacific,
me supremacy Of Polynesia now in rapid course OF
colonization and development Another quarter OF
q century and the Pacific world wan again be what
cal times-the homo OF nourishng and civilized COM
y nroposed to celebrate the centennial annver
sary OF Captain Cooks landing In New Holland BY
grand world fair In 1870, to be held in this city.
The government Is ALREADY urged 70 make prspara
no ureens sas or the money 9psn
Austrslssis and see for themselves the bccndiess
opportunities for safe and profitable Investment
open 70 them in this tne mn quarter Of the eloben
sengers ss eco Tor $500 for the return trip and steer
tie mammoth ship might bc pronsably empioyed for
few trips In bringing visitors 20 the cxhibtton from
the sister cOlones ana " u eugRogted that she should
also 30 engaged 70 lay q cable nom some point on
the northern coast to Point d Gale, VIA rntavin
thus connecting the Ansipodes with Europe In direct
teieUraphic communication. II thin scncmo should
be carried out great results viii doubtless follow.
Aftor lapse OF more than twenty ycarD the fnte
OF the explorer Leichardt seems pretty well scttie
one OF the interior natives has given an account Of
the murder OF some white men when ne was BOY,
whose appearance Corresponds exactly with that or
Leichardt and his party. The blacks rushed upon
them a. they were making their evening dampcrs
on the shores Of one of inc large interior lakes snd
clubbcd aud apesred them y DEATH The native