ENGLISH AND FOREIGN.

Hawke's Bay Times, Volume 17, Issue 910, 6 January 1871, Page 3

ENGLISH AND FOREIGN.

EUROPEAN MAIL GENERAL SUMMARY. SPECIAL. The fourth ami concluding series of the public sales of colonial wools opened on October 27, and will probably close on December 2. The quantity to be offered .during the series is about 200,000 bales. As a dull sale was expected, an effort was made to induce the principal holders to come to an agreement to hold over about 25 per cent, of this quantity, but the suggestion failed, owing to the simple fact that unanimity was found impossible. Still there can be no doubt that several holders, acting on their own behalf, will hold in rather than yield to an unfavor able market; and this opinion is strengthened by the consideration that, as the first of five series of sales for next fear is fixed to take place as early as 'ebruary 2, the war the upon the Continent may by that time have been brought to a close, and a greater demand for the staple obtain. But it is with the present rather than with the future that we have now more particularly to deal, because, save the wool that may be held aver, Australasia is not likely to be very largely represented at the sales to be held in February 1871. Well, our news of the wool trade is not so good as could be wished. Opinions vary as to the ruling figures, and perhaps, after all, the account sales are the only true test, It is generally considered, however, that prices have ranged about on a par with the average of those ruling towards the end of July, and that even the lowest of those rates have not in some instances been maintained. So far the quantity catalogued has been quitted, and this notwithstanding that a tendency to drooping rates has been perceptible from day to day. Medium Sydney fleeces and the better-scoured wools have not sold well, and the same may be said of grease wool from all parts. Lower-scoured parcels and tie shortly faulty New Zealaud fleeces (about JLs to Is 3d) may be said to have quite equalled the closing rates of July. Tasjuanian sorts have been heavy of sale, but Cape wool has been taken freely at July closing rates. Were it not for the unfortunate strife between France and Germany, there is every reason to believe that the staple would have seen a highly remunerative figure during the present series, and this conviction will be readily endorsed when it is -considered that the closing rates of July are on the whole maintained in the absence of any demand from such important customers as France and Germany. Our American friends have at least discovered *' that the United States in general, and New York, Chicago, und San Francisco, in particular, would be greatly benefited by participating in the trade of Australia." At a time when a prohibitive tariff on wool prevails, this discovery is a good sign, because it would be impossible for them to participate in the much-covetted connection, until they had recognised the blessings of free-trade. The American wool tariff has done more injury to the United States trade with the Colonies than the opponents of free trade seem able to realise, But this by the way. It is argued that the relative positions of the two countries are such that an ordinary effort on the part of the mercantile men of the United States would make it not only the great pathway from Europe to China, Japan, and Australasia, but secure to them the profits of the carrying trade. The fact is granted that a steamer from Sitka, the mouth of the Columbia, Paget Sound, San Francisco, or San Diego, would deviate but little from her direct course to call at the Sandwich, Fiji, or other groups of beautiful islands on the route; and it is prophesied that, were there regular lines of steamers on these routes, thousands more from Europe and the United States would permanently settle on these Pacific islands for health, profit, and pleasure. Our informant then gets quite charmed with the .visions of wealth before him, and, after remarking that the islands under notice offer exceptional advantages for the culti* vation of sugar, coffee, cotton, every varity of tropical fruits, pigs and poultry —if pigs and poultry can be cultivated — calls Congress to subsidise first-class steamers on all these routes. Well, Congress might do something infinitely more suicidal. It is demonstrated that the yoyage from England to New York can $$ fee ja tea dap, thence to San Fran-

cisco in six, and from port to port in twenty-two days,; thus Australia can be reached in thirty-eight days. This is certainly a grand scheme, and would doubtless have the effect of increasing (without injury to Europe) the mercantile relations of the United States with all the colonies referred to. The Pacific mail Steamship Company are the first in the field, and they.should take steps to secure all the advantages which ought to follow enterprise. Very little, however, is known of the incidence of the scheme in this country, though why the company should be so reticent we cannot understand. Publicity. is the very essence of success in such an undertaking. We have no information as to the tonnage of the vessels, their rate of speed, the style of accommodation, or as to whether the company are indifferent to the charms of a subsidy, and their agents in England seem to be equally in the dark upon these points. All that we know is that passengers are " booked through ;" but, if they are to label their luggage, they want to know what vessel they are going by, aud many other particulars common to curious and inquiring voyageurs. Our views are always on the side of progress, and we wish any company well that may succeed in developing the inexhaustible resources of Australasia.