LATEST TELEGRAMS.

Grey River Argus, Volume XII, Issue 1173, 2 May 1872, Page 2

LATEST TELEGRAMS.

[per greville's telegraph company, reuter's agents.] Wellington, May 1. Ward and Gellion report that the panic yesterday caused Caledonians to decline to Lls. Thames then rallied to Ll9. Auckland, May 1. Telegrams state the terms of the San Francisco contract with Victoria as follows: — Victoria undertakes to contribute. L 32,500 on condition that the steamers go direct from Auckland to Melbourne, and from Melbourne to San Francisco, leaving the New Zealand service to the branch boats. As an alternative, Victoria undertakes to payL27,500, on condition that the steamers call at New Zealand both ways. It is understood, also, that New Zealand pays L 50,000 to Mr Webb. Dunedin, May 1.

The Provincial Council has been opened. The Superintendent's speech congratulated the Province on the steady progress of settlement, and the number of additional agricultural holdings taken up during the year — 647, exclusive of town and village occupation. Immigrants, 4092, of whom 528 were adults. The Provincial produce exported was valued at L 4,990,000,, 990,000, irrespective of that exported to other Provinces and L 147,000 to America. The duty on gold shipped was L 21,415, and the gold escorted during the year ending March was 156,0260z. Pending the establishment of a mint, the Superintendent recommends that the assay and melting be kept in connection with School a of Mines to be established in the University. The Government asks the Council's concurrence in deprecating Colonial interference wifi education, and recommends improving education by instituting nine thorough inspections, and raising the standard of qualification. He thinks that the Legislature are mistaken in not leaving a practical administration of the Colonial works to Provinces, local administracion being essential, and approves of a national borrowing power, to be exercised on behalf of the Provinces able to employ loans advantageously, and regrets that the Legislature did not avail itself of the existing machinery, instead of creating district machinery. The revenue, from all sources, during the year was L286,231i, and the expenditure L 240,000. The expenditure on roads and bridges was L 82.000 ; and the Superintendent refers . to the large increase in the traffic on the Bluff and Winton Railways, as a proof of beneficial results, Auckland, Mayl. Telegrams state that the heavy rain prevents further communication with the natives in ro the gold fields question.