PASTORAL INTEREST OF THE AUSTRALIAN COLONIES.

North Otago Times, Volume XXVI, Issue 1882, 8 May 1878, Page 5 (Supplement)

PASTORAL INTEREST OF THE AUSTRALIAN COLONIES.

Mr J. S. Hill, presiding at tho last half yearly meeting of the proprietors of the Union Bank of Australia, said, in moving the adoption of the report, that he was unfortunately obliged to refer to the partial continuation of the drought from (which the colonies had suffered for the past two seasons. Notwithstanding that which had occurred, at no time was tho pastoral in» terest more sound, or more prepared to meet a calamity than now. However, whilst they should recollect that the pastoral interest would at all times bo the most important in Australia, still other industries were rapidly extending themselves South Australiannd New Zealand were now largo exporters of cereals, and Queensland was successfully producing sugar and other tropical products. In 1863 and in 1870, he said that there had been a remarkable change in the exports of gold and vrool. In the former year, gold was exported to the value of LI 1,000,000, whereas it had sunk in 1876 to 1,8,000,000 ; but, on the contrary, wool was exportod in 1863 to tho extont of LC,000,000, and that had risen in 1876 to uo less than L 19,000,000. In the year 1863, thero were also in the colonies altogether sheep to the number of 31,000,000, which number hod increased to 62,000,000 in 1876; in the former period there were 4,000,000 cattle, and their number in 1876 exceeded 7,000,000. The total revenues of the Austrnlusian colonies in 1863 were about L 7,000,000 sterling, and in 1876 they exceeded L 16,000,000 ; the total poyulntion of the Australasian colonies and New Zealand in 1863 was 820,000, and it now exceeded 2,400,000; the total number of acres under cultivation in the Australasian colonies was 2,000,000 in 1863, and about G. 600,000 in 1876; and the total debt of the colonies was L 60,000,000 sterling, invested chiefly in reprodnctive vrorki, including 3000 miluo uf railway