AUSTRALIAN.

Nelson Evening Mail, Volume XIII, Issue 201, 23 September 1878, Page 2

AUSTRALIAN.

(Per Ringarooma at Wellington.)

Melbourne, September IG. In the debate on the Loan Bill, members who were versed in financial matters, while agreeing that the loan was a necessity, urged that the debentures should not be forced on the London market just now in the face of the following telegram received by the Associated Banks :— "London, 29th August. To J. Matheson, Esq., Bank Australasia, Melbourne :— Associated banks advise stringent state, of ouv money market. An alarm ou Stock Exchange as to amount of Australian loans makes it hopeless at present to launch your loan. Banks believe that minimum of £90 would fail to float it. (Signed) D. Larnacii."

Mr Berry, speaking at Daylesford at a Liberal banquet given to himself and colleagues, defended his Ministry as the best ever formed in the country, and pointed to the large amount of work they had done as an evidence of their fitness for office. Hu congratulated the country on the formation of a real Liberal party. He accused the Opposition and the Council of being the cause of the deadlock, and all the depression in the colony, and promised if the Council dared to reject his Reform Bill to appeal to Downing-street. He safe down amidst prolonged cheers.

The Government have brought in a Bill to abolish the fees at the University, and to throw it open to all the State scholars.

The Admiralty survey has been given up, as Captain Stanley and his naval assistant, being Imperial officers, have been ordered home by the Admiralty. There appears little likelihood of the session coming to a close before Christmas. We are yet in ignorance as to who is to be our future Governor. The Duke of Buckingham is spoken of but there is a strong preference in favour of Sir Hercules Robinson or Lord Normanby. There appears some doubt as to whether Mr Walker's gentleman team is coming over. It is said that a sufficiently strong eleven cannot be got together and that the Zingari Club will send over a team, but as yet nothing is certain.

The diamond drills ordered from America have arrived and applications are being made from nearly every district for their use.

The will of the late Edward Henty, the pioneer of the colony, shows that he leaves £140,000.

Business of all kinds continues very dull and complaints are heard everywhere. The hope is that things will mend in the spring. There has been literally no wagering on the Melbourne Cup for the past few weeks.