quence of the Russian war, has in some measure abated; it will, therefore, not be deemed inopportune to recur to a period of such historical interest to Australia, and importance to the public.
No colony has ever risen to such magnitude in the same space of time as Victoria. Its growth appears almost fabulous, its increasing population wonderful, and its resources, of which much is still unknown, stupendous. Scarce fourteen years have elapsed since a few industrious colonists and emigrants first settled here, in possession of considerable capital, and desirous of forming cattle stations on the immense tracts of country so well adapted for grazing purposes—the produce of the wool alone being deemed sufficient to repay the outlay and necessary labour. It will be remembered that Government, in 1803, endeavoured to form a settlement at Port Philip, but were unsuccessful, and subsequently removed to the neighbouring island of Tasmania; but our object is not to dwell on this period of history, as many works of superior merit have already been before the public. We simply seek to deal with that eventful period commencing from the last quarter of 1854,—when the overgrown colony, filled with adventurous spirits from all parts of the world, received a check in its headlong career of extravagance, and the community, still smarting under the tide of reverses consequent on such a system, trembled at the approach of an insurrection which threatened to resist the remedial measures then deemed expedient, and
