18 DECEMBER 1841, Page 7

The Globe on Monday made answer as follows to the

article in the last number of the Spectator, headed "Emigration and its Frau- dulent Detractor,"

"The party in a controversy which first uses opprobrious epithets, without having proof, or shadow of proof to allege of their applicability, gives an un- erring measure of its own integrity of mind, whatever may be that of its ad- versary.

"The Spectator speaks of Emigration, and its Fraudulent Detractor,' the Globe! The Spectator will be puzzled to find an article in the Globe which detracts from emigration when unforced in its extent and direction. There is no journal which has shown itself more constantly friendly to such emigration. We hold, with Burke, the process of emigration to countries where capital is more abundant than labour, is not less natural than the rush of air from points where it is denser to where it is rarer. Emigration, on the only principles on which it has ever prospered without a most disproportioned uncompensated outlay, has no steadier advocates than ourselves. It is because we are so, that we are adversaries of the scheme which is now put forward, that Government should borrow money on the security of the sales of waste lands in our rawest and most remote colonies, for the purpose of transporting great numbers of labourers to them. " We have said, and we repeat, that to pretend such a process will not ter- minate in further demands on a government which shall have sent out labourers by wholesale to such places, is, we will not say fraudulent, for we don't like retorting uncivil epithets, but is most certainly deceptive and delusive. Have we not had samples of this? Have we not had claims on Parliament for ad- vances in Australia? Will not such claims be put forth with double force in posed in shipping labourers to places where, as we have said, there has not been that previous outlay for all other arrangements and accommodations which is essential to the growth of wealth in any country ? Labour and capital, it is said, are the great requisites. Well, a great proportion of the capital of the colonists has been expended in the high prices they have paid for land, the amount of which prices has already been anticipated by Government, and spent in sending out labourers. Will there remain enough (after all this much higher outlay, for much more remote lands, than would have purchased land in Ca- nada or the United States, in the neighbourhood of existing Improvements)— will there remain enough of private colonial capital to supply all that is want- ing, before any thing like the same advantages can be enjoyed by the more dis- tant colonists? And if private capital proves deficient, where will recourse be had ? We say inevitably to the public—we have had proofs of it; we shall have more, if this or ally future Government heedlessly undertakes to do what is now said to be necessary to give the Wakefield principle' a fair trial!

"The Spectator charges us, in most insolent terms, with misrepresenting this precious discovery. We have done no such thing; our sole reason for disturbing the sanguine authors of it in their dreams of Eldorado, is, that they call on the State to borrow money for those dreams. Whether the dupe of this opera- tion would be the State, as we firmly believe—or the lender—or the land buyer—or the exported labourer—may be matter of question. It is clear that the State, after having got into such engagements, is the only party that can be kept to them- After exporting labour by wholesale, it is the only party that can be come upon with certainty to provide for its maintenance. In the inte- rest of the public therefore—the public who stay at home—who can't get rid of their burthens by getting rid of their best labourers—who will be left saddled with masses of pauperism, and, we firmly believe, additional debt, by this wise attempt to ease themselves by forcing the export of their best men and spare money—in the public interest we protest against this scheme of anticipating doubtful resources, and embarking, as we believe, in must disproportionate outlay for mistaken ends.

"Curious enough corroboration of our views appears in the following extract from a commercial circular from Adelaide, (South Australia,) which we find in the City article of the Times this morning- . In South Australia, accurding to the circular, the great evil arises from the colonists having paid away too much money ta the Mother-country fur land, emigration, and goods, and not having reserved sufficient to support them tilt they could get returns for the products they are at present raising. Another evil, which is considered merely tempo- rary, is the sudden stoppage al Government expenditure ; the late Governor. Colonel Gaoler, having spent at the rate of 150.0001., while the new Governor. Captain Grey, does not spend more than 30,0001. Then, there is the dish° our of the bills .firr previous expenditure; and what is perhaps worse, for a large portion of debts left unplid by the late Governor, the Government declare themselves unable to make any settlement.'

It is in this mess of insolvency that the nation is to plunge deeper and deeper! "It would be uncandid to withhold the conclusion of the paragraph; but the preceding portion goes far to confirm the correctness of our views respecting the sources of cost, risk, and delusion, in these new colonies- . Notwithstandiug this disastrous state of affairs, the writers of the circular anticipate. with some confidence, a better period, and. Judging of the productiveness of the colony in wool and oil, expect that a time may shortly come when an increase of colonial produce will cause the balance of trade lobe in favour of the colonists.'" How far the Globe avoids what is " uncandid " may be seen in the entire abstract of the commercial circular, which we copy from the Times. Other passages besides the conclusion give a totally different colour to the case; but those the Globe did not find it " unctuadid" to withhold. The Italic .ty pe marks the important suppressions- " A circular from a mercantile firm at Adelaide, dated the 14th of last July, gives a very full account of the state of trade in that place; which is any thing but favourable. They declare it to be impossible to sell goods of any descrip- tion to any extent for a fair price for cash, or on credit even to the best houses. Many of the steadiest merchants have declared that they will not be able to meet their engagements unless the banks give them liberal support till the crisis is over. Shortly before the date of the circular, only four bills were paid out of forty that became due at the Bank. Goods sent to auction are sold at an enormous sacrifice, and in many cases cannot he sold at all. This crisis, which is thus described as taking place in Adelaide, has occurred in all the Australian Colonies at about the same time; and therefore the writers of the circular devote much trouble to inquire into the common causes,—the principal of which they consider to be over-speculation in land and other colonial property, and over--importation. The speculation in land arose from the increase of emigration to Australia after its stoppage to the North American Colonies ; which caused an immense rise in land and other property, for capitalists invested their funds in such property in the expectation of reselling it to newly-arrived emigrants. The money thus paid was sent to Britain to bring out labourers, or to pay for extra goods. At this period the commercial crisis in America, the war in Spain, and the diminuticol of the trade with China, shut up the usual channels for the British merchant and manufacturer, and caused them to enter eagerly into the new market. This was natural enough; but the mistake seems to be, that they did not sufficiently take into account the difference of consumption of the new thinly-populated countries, and that of the larger 'populations. Hence, goods sufficient for millions of people are said to have been sent out, while all the White inhabitants of the - Australian Colonies do not exceed 200,000; and to such an extent has over- importation into Sydney been carried, that last year the value of the imports exceeded that of the exports by 1,200,000/. To South Australia the impor- tation would not have been greatly too much had it been confined to goods direct from Britain ; but a bad state of trade in the East Indies and neigh- bouring colonies tended to glut the market to an injurious extent. In South Australia, according to the circular, the great evil arises from the colonists having paid away too much money to the Mother-country for land, emigration, and goods, and not having reserved sufficient to support them till they could get returns for the products they are at present raising. Another evil, which is considered merely temporary, is the sudden stoppage of Government expen- diture; the late Governor, Colonel Gawler, having spent at the rate of 150,0001., while the new Governor, Captain Grey, does not spend more than 30,000/. Then, there is the dishonour of the bills for previous expenditure ; and what is perhaps worse, for a large portion of debts left unpaid by the late Governor, the Government declare themselves unable to make any settlement. Notwith. standing this disastrous state of affairs, the writers of the circular anticipate, with some confidence, a better period, and, judging of the productiveness of the colony in wool and oil, expect that a time may shortly come when an increase of colonial produce will cause the balance of trade to be in favour of the colonists."