THE PROGRESS OF VICTORIA.

Evening Star, Volume VIII, Issue 2477, 24 January 1871, Page 2

THE PROGRESS OF VICTORIA.

In a review of the year 1870, the Ary up. after 'pointing out tliat the year’s revenue had decreased by L 150,000, being 121,780 less than the estimate made by Mr Frances in November last, and L 258.304 less than the estimate of the former Treasurer, Mr Berry, proceeds to state the causes that ha\ e operate I towards that end: —The war has interfered with business here more than might have been expected, but it is to the extraordinary weather wliich has been experienced that most of the existing depression must be attributed, Not for the last twenty year* at least has there been anything like such weather. Floods have succeeded floods; bridges havj b;en swept away, hundreds of miles of country inundated, and the roads torn up and rendered impassable. Thus ft r months the trade with the interior was reduced to a minimum ; indeed, it may be said to have almost ceased beyond the up-country termini of the main lines of fail way, is, however, a bright side to this picture, The whole country is better watered than it has been years past, and the temporary tie* pressiou which lias been alluded to will yet be .abundantly compensated for. As showing also that'the Colony is neither growing poorer nor less productive, it may be mentioned that since 1880 the balance in the different savings banks have increased from Lfi42,o2S to F787)598, notwithstanding that during that period the Post Office Savings Banks were started, and in addition to the above amount there remained in them at the last balance in June last no less than L 249,719. Besides these amounts, there wais invested in the various building societies in June last L 1,771,009, making a total of L 2,788,324 lying to the credit of the industrial cl isses of a colony whose whole pqpqlatioii, including old and infirm, children and infants, is under 800,000 persons.—To the commercial classes the year was one of great depression, yet the ordeal was successfully passed through. There was no large - failure in mercantile circ’es, and there was not more than the average number of insolvencies amongst the comparatively small traders.

dawn had been in the saddle, and had been fighting for thirteen hours, and who had seen all his staff fall, lit another cigar dismounted, and passed three hours in helping the hospital men to tend the Wounded.