MELBOURNE.

Evening Star, Volume IX, Issue 2585, 31 May 1871, Page 2

MELBOURNE.

(From the Argus , May 20th.)

The principal events of couversa'on during tire past fortnight have been Mr Francs’ budget speech, and the opiu n robberies. The former was delivered on t'io 16ih, and was of mire than usual importance, for it revealed a deficiency in the revenue, and suggi sted additional taxation. The position of alfaiiS is thus stated by the Argus :—We began 1870 with a credit balance of L 256.451. The expenditure of that year absorbed the revenue, and reduced the balance to be carried over to the credit of 1871 to L 34,185. In consequence of the determination of Parliament to commence the financial year on the Ist of July, instead of the first of January, we have an approximate statement up to the 30th of June next, which shows the balance of L3t, 185 to have been wiped out, and a deficiency on the half-year of L 153,20 2( For the financial year 1871-72, the Treasurer estimates his income at L 3.311.040, and his expenditure at L 3.495,148. This creates a deficiency of L 184.101, which added to the balance on the wrong side of the ledger for the first six months of 1871, makes a total p”Ospective deficiency at the end of the coming financial year of L 337, 310. To meet this deficiency the Government propose an alteration in the tariff, by which they anticipate to receive in round numbers LIBO,OOO exlra, aud to impose a property-tax of sixpence in the pound upon the rateable value of all landed property which it is expected will bring iu 1.120,000, or a total additional reuenue of L 300.000. if these propositions arc agreed to, and the calculations of the Treasurer prove correct, the revenue for 1971-72 will not only meet the expenditure for the year, hut will re.luce the deficiency of LI 53,202, which is anticipated at the]commcneement, to L 37.310 at the close. It imi;--t be remembered, however, that we are not altogether living up to oar income, because under the Land Act of 1862, L200.0C0 is annually set aside to be appropriated either as a sinking fund to wipe out our railway loan or to be employed in the construction of new railways. By the end of the year 1871-72 this appropriation will amount to L-500,000, which of course can be set against the probable deficiency of L337.31C, supposing the Assembly to refuse its assent to any additional taxation. There is, however, no probability of the L2()0,000 a-ycar being diverted from the use for which it has been appropriated, as all parties appear determined to support in its integrity this provision for reducing our liabilities by adding to onr asses, either in one form or the other. It is expected the Government will carry the day. The proposed alterations in the taiiff are, unfortunately, another step forward in the protectionist march. The only thing to be commended in them is that some of the vexatious 5 per cent, ad valor-m duties are abolished. But to make up for this, the other articles upon which only 5 per cent, has heretofore been collected are to be subjected to a rate of 10 per cent. Seven and a-half per cent, is to be imposed on all woollen or mixed cotton and woollen piece goods, whilst the duty of 10 per cent., now levied upon a number of articles, is to be increased to twelve and a-half per cent. In some instances the duties proposed are much higher, but they are on articles which are 'cither not largely imported, or for which the demand is comparatively small. The free-traders, of course object to a tariff which travels so far from every intelligent principle of fiscal policy, whilst the protectionists complain that it does not go far enough towards carrying out their peculiar views. As to the bonded store robberies, a few weeks ago it was reported simultaneously to the Custom authorities and the detectives that suspicions were entertained as to the security of certain stock in bond in the City. The Customs authorities immediately took stock aud discovered that 222 cases of kero-

sene and 40 cases of turpentine had disappeared from the M‘Evan’s warehouse. Suspicion falling on a locker named Daniel Lalor, who had been many years in the service, be was suspended, and the detectives sent to work. A few days afterwards a robbery of 1.600 worth of opium from another bond was reported ; and the missing property was aft l r awhile traced to I aiors house, where it had been hiddin in cupboards and drawers It was a’so discovered that he had offered for sale 100 cases of kero cue, much below market value immediately afUr his suspension. After his arrest, 80 eases were found on hit premis's. Lalor was required 1 o deposit Ins every night at the Customs ; and one supposition put forward is that ho substituted other keys for the genuine when giving in the bunch, and then used tlie genuine to open the store at night. Another suggestion is that he took wax impressions of the keys and had fete vdlies manufactured. Toe robberies of the other bond are not so easy of explanation. Lalor hs been committed for trial. The detectives who conducted the enquiries have each received their share of the Ll5O reward which was offered. An official report from our PostmasterGeneral confirms the statement that has frequently been made without authority, that early in December next the electric cable will be laid between Java and Port Darwin, and that very early in the next year we shall bo in daily communication by wire with England, and indeed with every division of the globe. Apropos of this subject, it has leaked out that the mission of Mr George, the publisher of the Ar;/ns, to England is for tlie purpose of negotiating with tho Indo-European Telegraph Company in order to connect the offices of his paper in Melbourne with tho branch in Cornhill. On the 15th inst., Mr Hugh Glass, at one time reputed to be the wealthie t man in Victoria, expired at his residence at Flemington. He came to the Colony in 1840, and his career for a long time was one of uninterrupted prosperity. He accumulated large quantities of land in various parts of the Colony ; in 1862 he was the lessee of over half a million of acres, and beyond this his trusteeships and partnerships gave him command of a large additional territory. He was also the owner of 20,001) acres of freehold estate, which cost him in some instances over LlO per acre, besides holding large station properties in Australia. Then followed his connection with political jobberies, which cul mated in bis imprisonment by tlie Assembly ; after which occurred the sudden fall in the price of wool, the consequent depreciation in the value of securities given by him to the Colonial Bank of Australia (which actually lent him about a quarter of a million of money), and the depreciation in value of his house property, all of which proved too much for his solvency ; for it is said he was one of those who kept every penny of his money engaged in floating speculations and enterprises. He was stripped of all his vast possessions, save his house and grounds at Flemington, and other properly, all of which were settled on Lis wife and family. These losses and sufferings affected his health, and brought on a severe attack of disease of the liver, under which he continued to sink until finally his sufferings were cut short hj an overdose of chlors.l, which he had taken for the purposed or procuring sleep. A new opera company arrived from CTutha by the mail steamer on the 13i hj. It consists of live prim domic, three jirimi tenori nssolull, two jirimi baritoni nssoluti, two primi bnssi assolnfl, and one basso comko. Their first performance was _ witnessed by a crowded audience. Their leading soprano does not equal Baratti. but the principal tenor is generally admitted to be the best ever heaad in the Colonies. The operatic firm of I ystcr and Smith has been dissolved, and Mr l.yster, in conjunction with Messrs C 'gli and I’ompei, of the new troupe, still curies on tho business <f impresario. The conductor of the new company is demonstrative, but clever, and sits at a piano in the midst of his orchestra. Mr and Mrs 11. Heberts, late of Dunedin, returned from Cal cutta by the same steamer.