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averaging no very material inequality of conditions, exceeds that of all the other Australian colonies put together.
"The returns of imports for 1851 amounted to £1,056,000; for the following year the amount had increased to £4,044,000. The increase in the amount of export produce for same period is still more striking, namely, from £1,424,000 to £7,452,000."
This is the amount set forth in the official reports, which Mr. Westgarth considers greatly below the truth; he estimates the value at double that sum. He states, that no material quantity of gold was procured until towards the end of September, 1851, and that within fifteen months from that period nearly five millions of ounces were raised. Some of the effects of gold on the colony are illustrated by the extraordinary progress of Melbourne, its capital. "The harbour of Williamstown, its chief port, now exhibits the lively spectacle of one hundred three-masted vessels riding at anchor, besides steam vessels, and a large assemblage, both there and at the wharves of the city, of smaller shipping. All the principal streets are thronged with passengers, and with vehicles of every kind. By the census of March, 1851, Melbourne then contained 23,000 inhabitants; they may not be estimated at nearly 80,000 persons.
"The progress of Geelong has been scarcely less marked than that of Melbourne itself. The population is estimated at 20,000; two years ago it was 8,000. The great importance recently acquired by the Balarat gold fields will still accelerate the progress of our sister town.
"A brief interval will suffice to exhibit two populous and wealthy cities upon the shores of our inland harbour, where but eighteen years before were only a uncultivated waste, and a few scattered tribes of the lowest grades of our race.
"Three railways have been sanctioned by the legislature. One from Melbourne to the harbour, about two miles in length; a second to the gold fields of Mount Alexander and Bendigo; and the third, the Melbourne and Geelong Railway. The increasing facilities of steam navigation give further evidence of progress in these colonies.
"Steam communication by several different companies, and by different routes, has been established with Britain. The various ports of the adjacent colonies; including, at length, Hobart Town and Adelaide, are now also connected by steam.
"There has been a great extension of banking facilities. The amount of £720,000 has been voted by the local legislature for the public works of the present year, besides adequate amounts for the establishment of a university and public schools, and of a public library. There is also the prospect of the speedy establishment of a Museum of Economic Geology, to furnish to our innumerable prospecting colonists some practical guidance for the discovery of our mineral wealth."
The fluctuations in the prices of merchandize of all kinds have been very great. Tables are given on this interesting point, to guide shippers and speculators in their transactions. As may be well supposed, large gains and very heavy losses have been the consequence of reckless trading.
