SYDNEY.

New Zealand Spectator and Cook's Strait Guardian, Volume VIII, Issue 688, 6 March 1852, Page 3

SYDNEY.

[From the Hobart Town Advertiser, Feb. 13.] The following paragraph from the correspondent of the Argus will show the feelings of the citizens of Sydney towards their Corporat.on. Ue commend it to the attention of our legislators: “ The contest for the Chief Magistracy of Sydney-is going on with no great degree of spirit. Those who are supposed to know most about the matter say that Aiderman Egan has the best chance. The citizens, as a body, however, care but little about the matter. Dissatisfaction at the working of the Corporation has, in fact, spread far and wide ; and the feeling has become general that the present wrangling and useless City Council, which appears to get worse and worse at every noeeeting, must be swept away, in order to make room for a paid Commission, or some such reformatory expedient. In all probability, therefore, the present system of Municipal Government will not last over the current year.”

We extract the following items from the various papers : — “ More Banks.- —Information has reached Sydney that the directors of the Oriental Bank had determined to open branches in the Australian Colonies as quickly its possible. “ The Maria, from Auckland, reports that two samples of gold had been sent in to the New Zealand Government, one found in the island of Waiheki, and the other in the district of Hawke’s Bay. The fields in both places are rumoured to be extensive and productive, “Steam! steam! Let us have steam in Heaven’s name. We are credibly informed that the Shamrock has cleared £4OOO (four thousand pounds!) in her last two trips, by freight and passage money. There is abun-

dance of inducement, and we cannot see why we should be floundeiing in the mud when uch splendid profits are sure to be realized by punctuality and dispatch. The receipt of gold from the West and South by escort and mail yesterday and today amount to about 4,100 ounces, barring the fractions.

H.M. schooner Bramble, from Auckland, brings a confirms ion of the news that gold in nugget has been discovered at Waiheki Island, distant from Auckland about 25 miles. There is, therefore, every reason to believe that the precious metal exists in the pet colony ; and that our friends the New Zealanders have hit upon a trump card at last. Talking the other day about gold io a gentleman connected with the Government, I learned from him that it is likely to be found in large quantities in Van Diemen’s Land before long. He founds his opinion upon the similarity of the geological formation of the inteiior of the island with that of our own gold fields, which he ascertained in some exploring expeditions several years ago. My informant is a man of unquestionable intelligence and unimpeachable veracity; but I merely give you this as an instance of the chit-chat going on about town, not having had the opportunity of eliciting from him anything more definite on the subject. “To turn from speculation to realities. You will see by a report in the papers that the much talked of Sydney Exchange Company bas turned out very nearly an abortion. After months of canvassing, and meetings, and pourparlers, and adjournments, and battles in Council, and an Incorporation Act, and limited liability, and everything else one can imagine necessary to ensure the success of the undertaking, the provisional committee calls a meeting and finds that not one of the merchants of the Queen City of the South is ready to pay £4 10s. on his shares to carry out lhe gteat undertaking. The pretence is, that we cannot commence building just now on account of the high price of labour, and the difficulty of obtaining contracts. But I suspect this is not the real reason. At all events the backwardness of our commercial people in ‘getting thatched from the rain,’ as Carlyle hath it, is anything but creditable to themselves, and is a positive disg ace to the City.”