IN VASTMENTS IN AUSTR A LIAN TRADE.
"t Oun stocks of bread-stuffs are threatening to run low," writes the Itierbourne Argus of September 27th; and "the consequences are almost too painful to be calmly contemplated," for the diggers in the Victoria fields were then about 80,000 in number, and were still arriving by some thousands weekly ; to say nothing of the population in the towns and in the other colonies, which must share in the scarcity prevailing at the centre of Australian wealth. Such facts, however, as those which we have mentioned jointly, can scarcely escape the attention of exporters in every part of the world. It as probable that writers in this country who have touched upon the same subject, copy the conclusions as they find them 'expressed in the Melbourne papers ; and it is not denied that those papers look at the subject too much from a local point of view. At Melbourne the grand facts before the eyes of public writers are the constant influx of a hearty gorilla Lion needing ample supplies, the total derangement of industrial processes within the town, and the neglected state of agriculture. There has been, indeed, some slight reaction in favour of agricultural pursuits, even close to the 'diggings; and letters have been received in this country from per- sons thus engaged, speaking of their future prospects in terms which show that they at least were not to be diverted from the more immediate gains of digging. In New South Wales the de- rangement has been by no means so great as in Victoria ; and in the colony of South Australia, which has from the first remained more steadfast to the re pursuits of industry, the present condition of affairs is highly i
promising: the Government and the colonists are in accord, the settlement of land continues ; land- sales proceed; and although it is probable that the diversion of la- bour may be felt to some extent in eless careful preparation of the soil, it is quite certain that the extent of land laid under corn and other edible products greatly exceeds that of any previous year. Even within Australia itself, therefore, the preparations to meet the rapidly-growing wants of the community are not wanting. But the grave facts of the gold-diggings must long before this be known to every mercantile centre of the world,—the rapid increase -of the population, the equally rapid evolution of gold, and the large prices to be obtained for every commodity available for sustenance or comfort. It is to be expected, therefore, that the arrivals which have already commenced should be followed up with cargoes of provisions, from New Zealand, India, China, and indeed every place where they have produce or stores.
Meanwhile, it is not useless to point out this grand fact to those who have the conduct of enterprise. In England companies have been formed to take advantage of Australian wealth ; but in no way can advantage be so well taken of that wealth as in purvey- ing for the wants of its population. Gold-mining, or companies for gold-digging, cannot in any degree enjoy the same certainty of very great profit. The processes of gold-digging in such a region, and amidst such a population, must be liable to too many irregu- larities for ordinary commercial methods to have a fair chance of success. As an example, we noted that the very ground contem- plated by one company as the scene of its operations is already the scene of quarrelling about local possession. There are disappoint- ments too, sudden failures of the gold in particular parts ; and while the individual digger can transfer himself readily upon an- other scene a company has no such facility. The prizes may be great, but the blanks are equivalent; and a company cannot dodge fortune in that wild region as the adventurous navigator can. Eat although good luck is thus highly individualized, it is also steady in its very broadest results. Although companies or indi- viduals may be disappointed, in the main it is certain that the pro- duct of gold is equivalent to the amount of labour bestowed upon the work of excavation. So much labour, so much gold, in the rule which has held good hitherto, and there is every prospect that it will continue to do so. The population of that country will con- tinue to have wants of the most urgent kind, and will continue to have Ann:I:tense funds to pay for its supplies. The losses of some will be compensated by the immense successes of others ; and in the gross the general market will be perhaps one of the steadiest in the world, as it will most likely be one of the most continuously and rapidly extending. The immense gains of primary labour will furnish proportionate profits to the secondary employments attend- ing upon that labour ; and thus the profits of the merchant will be proportionate to the wages of labour, A growing population, an ever-widening market, an enormous treasure in the very soil of the country—these are the guarantees of commerce ; and we be- lieve that, while taking year for year, profits may be made in the ordinary merchant-commerce equal to those of the gold-digger
himself, we are perfectly convinced that the profits in that part of the business of Australia will be infinitely more certain thmi any London apeoulations for dealing with the soil.
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