PORT PHILLIP.

Auckland Chronicle and New Zealand Colonist, Volume 2, Issue 32, 14 March 1844, Page 3

PORT PHILLIP.

(From the late Port Philip papers.) Bark.—Large quantities of this article are daily arriving- in Melbourne from the. interior, and, averages in the market from 255. to 48s. Balanck op trade In favoii OF tiikCoLoNt-( —The >ystem ,of'economy and retrenchment ha* already had the beneficial effect of exhibiting aa alteration in the rale of exchange that must ultimately be productive 6( consequences the most important to the interests of the Colony. It would that our export of wool, estimated at i'fjOO.ooo, with the amoont of bills for sale at the Treasury, exxeed in walue the amount tequired for remittances lor our imports; thereby creating & competition amongst Uie sellers of bills upou Lon* don, The h>s||gMvires from Sydney announce 'la' 'he Hanks ol AuHi | !;i,... i n d I'm ion are advertising Tlieir bills upon London at 8£ per cent, discount. Thii important reduction will cause, we are convinced, an immen-e sensation in our sister Colony of Van Diemeir'a Land, where the Commissariat are now drawing upon the home government at the rate of nearly jfiOOO per diem.