New Zealand Spectator, AND COOK'S STRAIT GUARDIAN. Saturday, April 29, 1848.

New Zealand Spectator and Cook's Strait Guardian, Volume IV, Issue 287, 29 April 1848, Page 2

New Zealand Spectator, AND COOK'S STRAIT GUARDIAN. Saturday, April 29, 1848.

In the abstract of the official returns published in our last number it will be seen that the amount of Customs' revenue received in the Southern Province during the past year is nearly equal to that of the Northern Province. Our Northern contemporary in noticing the fact endeavours to account for it by the Government expenditure, forgetting the increased amount of expenditure at Auckland, not only in the naval and military departments, but also on the pensioners who have been added to the population of the Northern district. But the superior amount of exports of this Province, being nearly one-third more than that of the Northern, is a still surer test of prosperity, and cannot be accounted for in the same way : these indicate the greater amount of capital invested in production, and our substantial advancement in the true elements of colonial prosperity. The chief exports from the Southern Province are oil and wool. Last Year the whaling season was the worst experienced since the formation of the colony, the quantity of oil caught being less than one hah* of that caught in 1845, which again was inferior in amount to the seasons of 1843 and 1844. But as soon as the projected South Sea Whaling Company commences its operations, a very important alteration will be made in this branch of our exports, which will be then raised to a degree of importance before unknown. In wool too we are prepared

to expect each year a rapid increase as well from the increase at the stations already established, as froni the number of new stations which are likely to be formed. It appears to be generally admitted that sheep stations, as being more easily managed and yielding a larger return, present the most profitable investment of capital of any pursuit in the colony. To those who are desirous of investing their capital in this manner the Southern Province, in its open grassy districts, offers peculiar advantages which will confer upon it a permanent superiority. All that is wanted is an influx of capital and more settlers to turn these advantages to account, and when once the stream of immigration is again directed to Southern Province we shall find the amount both of revenue and exports increase in a still greater ratio than that of the past year, and prove incontestably the superior advantages and importance of this division of New Zealand.