The Jubilee of Melbourne.

Gisborne Standard and Cook County Gazette, Volume I, Issue 9, 30 June 1887, Page 2

The Jubilee of Melbourne.

[From the Abous, Juns 2nd.] Among the jubilees of the year, not the least noteworthy is one which oocured yil* terday. On the Ist of June, fifty years agOi the first land sale oecured in Melbourne; aha for the first time there were Owners of city property here. The pioneers who pitqneq their tents or built their huts under the gtitfli trees which covered the hills, were sanguine, no doubt, as all pioneers are, but it may be claimed that their most briliant anticipations have been fufly realised—and it to but seldom that pioneers have such luck. On the whole, it may be claimed that the British Empire during the period has seen no greater change and no greater growth than what 1 has occurred here, The pioneers John Batman on his hill, and “Johnny*’ Fawkner in his gully, and Captain Lonsdale in his slab-hut quarters, and Captain Hob son in his brig, had many matters to settle. The name of the place had to be decided. “Bearbrass” found favor with some, and the native name “Dutergalla” had advocates, but it was a happy chance that suggested the idea of the title of the English Premier of the day. So at least one and all of us would now say. The bidding at the land sale of June Ist, 1837, was conducted with a considerable amount of spirit, and bearing in mind all things, the average price obtained of £7O per acre was by no means a bad one. The allotments had a double frontage, so that the price of 10s per foot was 5s for the Collins street and 5s for the little Collins street space, and the “unearned increment” which has accrued is certainly sufficient to satisfy the most ardent speculator. One instance is mentioned in the volume of Australian Pictures. “An original half aoreblock,” we are told, “still remains in the family of the original purchaser. The colonist gave £2O for it. To-day the sixty six feet frontage to Collins street is worth £ll5O per foot, and the Flinders Lane frontage is worth £350 per foot. A little ciphering brings out a sum of £99,000 as the pre* sent value of the original £2O investment. And for decades the income derived from the block has been counted by many thousands of pounds per annum, The £2O has earned at least £200,000 in all.” In Melbourne we see the prizes of colonisation. They are rich enough, certainly 1 but only colonlste know how many »re the blanks. Yet other Melbournes will come into existence during the ensuing fifty years, and the lucky forseeing man may hope to discover one.