VICTORIA.

Lyttelton Times, Volume V, Issue 255, 11 April 1855, Page 6

VICTORIA.

(Frcm the " Maittand Mercury.")

On the 7th Feb., the new Colonial Secretary, MA.i^iiin.evlaid before the Legislative Council tue amended estimates for the year 1855. He iiad, in accordance Willi the vote of the house, ps-iisr U> its adjourmnent for six weeks, reduced' U:« : vTOvertinient.' establishment' very materially "'. ? r -*- l" l>ri »n :-'*he expenditure "for the year w.'ijiiti : sa certain sum. He now estimated the i«ta| expenditure far 1555 at £3,305,7L5. To--yy^r-h ims the total general revenue was esti-

mated at £2,236,000, and the unappropriated moiety of the land fund at £500,000. This still left a large deficiency, but it was proposed, out of the sum of £450,000 appropriated for the Central-road-Board for repairs of roads and bridges, to make them refund £229,500, advanced to them in 1854 ; and to make the Commissioners of sewers (Melbourne) refund £433,900, advanced to them in 1854. This would bring: the total revenue up to £3,471,000, leaving a probable balance in hand of £162,582 at the end of the year. But, in order to do this, it would be necessary to create two funds or public loans, one of £800,000 to provide means; for repaying to the immigration moiety of the land . fund that sum appropriated for /-'ordinary expenditure in 1854; and one of £700,000 in favour of the, Commissioners of Sewers, to enable that board to repay the £433,900,7 and to complete, the Melbourne water supply works. He would be/willing to consent to a third fund or loan, if the! Council wished, in order7to provide/funds for erecting public buildings, which he had been obliged to omit almost entirely front his con ternplated expenditure /for the year. One other sourceof expenditure the Government intended 7yet. to7propose^ but :did7npt wish to includeit among the formal estimates for the year ; it was that of compensation to the Government officials suddenly dismissed at the close of 1854, in obedience to the econoriiic vote of the Council; his own idea was, that it should amount to at least twtv months' salary :to: each individual. He trusted that lion, members, whatever they might think of the general merits of the financial /scheme, would avoid pressing local claims for further items of expenditure,;if it7,could be avoided v although: the Government would willingly keep in view any claims that appeared

— -wiucu. iue Cjrovernment wouiu „i.v uu .. to the wish of the Council if they desired still further reductions, in the establishments to be made.—At the close of his address, Mr. Haines moved that the estimates be printed, and considered that day week.

The Argus, Feb. 12, reports as follows upon the general state of trade in Melbourne:— During the present week the trade with the interior has continued brisk, and has given animation to the city markets. " Confidence to a certain extent is restored, aud the improvement we have noticed during the previous fortnight has been maintained. There is very little change in prices, but they are generally firm. Flour-has taken another start. First Adelaide cannot be got under.£42 to £43, and the tendency is said to be again upwards. The arrivals are certainly short, but it is universally allowed that the expected arrivals would render a heavy speculation very hazardous. Oats have slightly declined, hut barley and bran have improved in value.

From the Melbourne gold circular of Mr. Edward Khull, February 10, we take the following: A considerable demand for gold for shipment by the Champion of the Seas, Sussex, and other clipper ships about to sail, has raised the price to, 755. 6d., and for large parcels a shade higher. >