Williamâ s Town was named after the king and Melbourne was named after the British prime minister Lord Melbourne .
As Williamâ s Town was named for the British sovereign and Melbourne , on the other hand , was named after the British prime minister Lord Melbourne , it has been said that the place was originally intended to be the capital of the new colony , and the first streets of old Williamâ s town were laid out in 1837 with that in mind .