Australian Agricultural C...
The Times, 1824-12-01T00:00:00

A new Company, under this title, has just bcen incorporated bv Royal Charter, for the purpose of extending cultivation, and pro- ducing wool of the finest qaality, in New South WVales. The fol- lowingare extracts from the prospectus which has been issued by the Directors:_ " This colony is remarkable for the fineness and salubrity of its climate, the extent of its pastures, and its variety of rich products, although that for which the soil and climate are peculiarly calculated Is fne wool. The reports of Mlfr. Bizge, the commissioner of in- quiry, bear testimony to the extraordinary degree in which the soil and climate of New South Wales are fouid to be congenial to the constitution of AXerino sheep; and the correctness of his observation ii established by the result of experience, on a scale of no inconsi- derable extent; for it is well known that numerous floccks, procured originally from Spain, bave for some Years past been thriving in the colony, and that the export of wool Prom thence to this country has recentlv realized large returns to the preprietors, the superiority of the quality having commanded ready sales at high primcs. ' Of the rapidity with which, under circumstances of soil and climate so peculiarly favoartble, the growth admits of being ex- tended by due encouraeement, an inference may be drawni, not only from the success of experiments whiih have alrcady been made in that settlement, but from analowy of what has occurred under cir- cucostances less favourable in therinstance of Gcnnan wool. Thirty years ego, fee, if any, Mlerino fRocks of sheep existed in Saxony, or in the other states of Germany; and yet by the introduction of that breed fronm Spain, and the encouragement of sheep farming, so rapid has since been the extension of the zrowth of wool, thst in addition to the increased consumption which these states have had to supply on the continent of Europe, they have furnished an export to this country, that has nrograsatvely advanced, until it amounted last year to more than 12 millions of pounds. This extraordinary in. crease, it is to be observed, has taken plr.ce notwithstanding the dif- ficulties arising from an untavourable climate, which renders it ne- cessary to keep the flocks tinder sheds for a considerable part of the year, and to feed them during that time on dry food, raised antI pre- pared at great expense. ' In New South Wales, from the mildness of the seasons, and the dryne-s of the snil, such protection and artificial treatment become unnecessary. With these natural adrrantages, therefore, together with the protection of British institutions, and the inflnence of ca- pital, it Is not indulging in too sarnguine an anticipation to look for- ward to the time when our manufacturers will derive their chief sup- niiies of fine wool from an English colony, at a lower price than that at which they can now be imported from countries where the severity of the winter renders artificial treatment necessary, and increases the cost of production. " The value of New South WVales Wool is attested by the most emincnt manufacturers, who state, that independently of the fineness of the fibre. it has the quality of being peculiarly soft to the touch, partakinc, in this respect. of the nature of fur. and is therefore pre- ferable, for various uses to wool of any other growth. "1 The introduction, therefore, of wool so fine in quality that it is calculated to improve andl extend the general manufacture, whilst. frosn the nature of the soil and climate, this superiority is obtained at a less cost of production than it can be from any existing sources, is of itself an important consideration but this consideration alone conveys a very inadequate idea of the commercial advantages which m,ay be eventually derived trom the application of capiial to an ex- tended production of wool in New Soiith Wales * for it is not only a successful competition with more costlv souTces of foreign supply, te satisfy the present scale of demand in the British market, that may be contemplated; bat it is fairlv to be assumed, that the na- ture of the market for this commodity' emtensive as It now is,affords the orospect of great and almost indeqrnite enlargement. ' 'The quantity of foreign vvool annuallv imported into Great Bri- tain, from all pans, on an average of the three years ending in 1793, was only. 3,060,471 1b. " Whilston an average of the three years ending in 1823, it amounted to .18.814,876 - A And in the year 1823 alonc, to . . . 20,651,415 -- '; But, notwithstanding this great increase of annual importation, there has of late been a reduction of the stock f6r sale, compared with what has usuallv been held at thesamne period, and foreign wool now sells readily at liher prices without the duty, rwhicb hbs re- cently been taken of i, than. it did previously, including that charge. It is therefore evident that the supply has barely kept pace witlh the rate of consurpotio;n, and as there is every reason to anticipate that the causes w/hich have, for sorme year past. leW to so great and pro- gressive an extensionw of demand will continue in operation, it mnay fairly be concluded that the utmostprobable increase of production will be absorbed by an increasing consumption. Nor is it unimpor- tant to observe, that Great Britain is now dependent upon Spain and Germany for thesupply of an article of vital necessity to the ancient staple o the country; and that, wlst bv promotin the growth of it in New Soasth WVales, an intercourse will be estaVlished highly beneficial to the proprietor, the shipbwner, and the manufacturer at home, the supply itself will be rendered less liable to interruptions from rival or hostile policy. cl As it appears, then, that New South IVales presents tnany ex- clu,ve advantages for an extensive production of fine wool, the de- mand for which being actually very great, andl capable of almost in- definite increaqe, there can be no 'doubt that the establishment, of Mlemno flocks formns theniost important and promising object for the expenfiture of capital: but, coincidently with the pursuit of that object, although subordinate to it, are several valuable productions which may be cultivated with the prospect of amnple returns for the labour and capital employed. Of these, the principal art, the olive and vinc, the value and facility of raising which have been already :scertained by actual experiments; tobacco, nov grown to a consi- J,rable extent for home supply; and hemp, flax, silk, and opium, ju the production of which both the soil and climate are found to be well a'Idated. " With a view to accelerate the attainment of these desirable ob- ject, a Company was formed nith a capital of one million sterling, divided into shares of 1001. each; and an application wam made to the Right Hon. the Earl Bathurst, flis Ma1[jesty's principal Secre- tary of State for the Colonistl Department, for a prant of land in New South Wales. His Lordship being satisfied of the great bene- lits which wvould accrue to the settlement from a large investment of cajpital-of the advantage to this country in being supplied with the finest wool from a colony of our own, and of the probable reduc- tion of the Government expenditure by the employment of many ci nvicts, as shepherds, mechanics, and labourers.was pleased, on be- half of His Majesty's Governnment, to sanction the establishment of the Company. " An act of Parllamcnt has been in consequence obtained (5th Gpqrge IV., c- fill), and a Royal charter has lately passed the Great Seal, puruasnt to the provisions of this nct. 4f By these the Company is declared to be a body psolitic and cor- porate, by the name of the Australian Agricultural Company.' " A grant of 1,000,000 acres of land has been made, in fee siiple, a ith power to select the proper situation, free of any charge for five yeaTs; but subject after that period to a moderate annual quit rent, redeemable at any time for 20 years' purchase, and which is not to be exacted at all,.provided a certain number of convicts shall he em- ployed by the Company. " Vf this grant, the Company have the po7wer of leasing or selling 500,000 acrei aftertlhe expiration of five years, provided the xum of I0(lQtPOOl. shal have been expended on the land in the formation ot -o.ls, the erection of buildings, clearing, cultivating, fencing, drain- ing, or other improvements; and also of alienating any portion of the remaining SfJO,00 acres, by licence from His Mtajesty's Secretary of State." " The =uautity or Urltlsh wool annally consumed has been estl- nanted at ioout 150 mDilions of pounds.-Minutes or gvldance before a CouinntteeofPrlvvYCoulltI on'Trade. Dec. 20 O.1819,P. 6. Cowxs, Nov. 29.-The Jupiter struck on the 9hingles 27th inst., ,.aud through the violence of the sea, after striking very hard, was completely forecd over them into deep water, when the vessel imnie- diatcly stink. The crew vweresaved by apilot boat, and landed here, but tbercis no prospect of saving eitber hull, cargo, or materials. AUSTRALIANv AGRICUL6TURAL COMWPANY.