VICTORIA.

New Zealand Spectator and Cook's Strait Guardian, Volume VIII, Issue 698, 10 April 1852, Page 3

VICTORIA.

[From the Maitland Mercury, March 13.] Melbourne papers to the 2nd instant have come to hand. Melbourne Gold Circular.—A fall has taken place in the price of gold this week. The market opened at 635., and gradually declined to 615., with a downward tendency. Monday’s overland mail from Sydney brought the startling news that the Anglo Australian Banks were about to become purchasers of gold. The immediate effect of this was, that operations were suspended for a short time, and prices consequently fell. The Shamrock took away a number of the Sydney purchasers, which also had an effect in lowering the price, although they took a very large quantity of gold with them. A meeting of the merchants and traders has been called for Tuesday next, the 2nd proximo, to take into consideration a report that the banks were about to become purchasers of gold. The quantity of gold arriving in town is on the increase. The escort brought this week a larger quantity than at an}’ former trip but one. Our exports also show that a very large amount still continues to be brought to the town by the diggers. We have had an addition to our population of 2000 souls this week. O zs. Gold previously shipped from Victoria.... 384,495 Per Enchanter, additional to last week’s report 22,988 “ Syria, to London 11,503 “ Shamrock to Sydney 34,578 “ Don Juan to Sydney 3,585 457,149

Or 19 tons 3qrs. 20 lbs. 9 ozs., which, at 60s. per ounce, amounts to £1,371,447. Exchange on London on drafts against gold hypothecated, 50s. per ounce, and 9 per cent, discount by the English banks; and by the bank of New South Wales 555. per ounce, and 10 per cent, discount. Freights f per cent., on 60s. with 10 per cent, primage. Edward Khull, Bullion Broker, Feb. 18, 1852.— Argus. Mount Alexander, Feb. 27.—/There are now more than 30,000 adventurers congregated here and along the principal creeks ; the Loddon is losing its lucky attractions every day, and has in my opinion, given’’occasion to no little exaggeration. That river, however, continues to be used for washing purposes by a large number of persons, who cart the dug up soil from other localities to the water’s edge, and are in many instances repaid for their labour. The chief locales of industry are along the banks of Forrest, Friar's, and the Bendigo creeks, some very profitable prizes having lately turned up at the latter. I was speaking with one of a party yesterday, who satisfied me that their gains whilst at work averaged £4O worth of gold each week since Christmas ; they considered themselves lather fortunate, an opinion in which I fully concur, as there are hundred others not clearing expenses; in fact, I know several parties literally doing nothing. Two instances of most extraordinary industry, but ill luck, have come under my cognizance—one in a party of Van Diemonians, who have sunk no less than ten holes without obtaining the smallest particle of gold as a reward of their toil; the other, a party from Melbourne, who have just cleaned out the twelfth hole with a similar proportion of lucklesness. It is a difficult matter to estimate with any degree of accuracy any average of success, as Fortune, the blind and changing goddess, has probably since the commencement cf her career never displayed so much capriciousness as in the apportionment of luck (good or bad) at our gold fields. The The individual cases of success (even the best of them) fall far short of the notions of many people; and as a rule I should say that such sums as £7OO, £5OO, £4OO, £3OO, and £2OO per man, may be reckoned as the luckier prizes in the great goldhunting lottery, and few there are, comparatively speaking, and fortunate do they consider themselves, who, after paying all expenses, pocket such sums. I am firmly convinced that misrepresentation and a desire to exaggerate every “ nugget” turned up prevails here, and whilst the party who leave with their 101 b,, 151 b., or 201 b. weight of gold have their success bruited forth to the admiring and envying crowds about them, those who after weeks of the most harassing manual labour and the most excruciating mental excitement who realise not a single grain are allowed to depart in peace “ unknown, unhonoured, and unsung.” Many have left, and are now leaving, intending, some to “ knock down” at the nearest public house the proceeds of their expedition, others to betake themselves to their homes and respective pursuits ; but all express their determination to return when the wet weather sets in. The cause generally assigned now for non-success is the dry weather and consequent want of water, and, therefore, if Providence blessed us with an abundant supply of rain, nine-tenths of the diggers fondly imagine they would thereby become as rich as Croesus. My own impression (unpalatable as it may seem), nevertheless, is not that the lack of gold is occasioned by alack of water, but that the precious metal is not so plentiful as it was when the region was first

discovered, or, in other words, because the Mount Alexander gold field is failing.—Correspondent of Herald. Busiiranging.—About six o’clock on Saturday evemng when the gold escort was two and a half miles on the Melbourne side of the Bush Inn, a man informed the party that a person on the road had been robbed of £l6O by six armed and mounted men, riding four •bay and two grey horses. The serjeant (Terry) immediately extended his party in skirmishing order in the neighbourhood of the Bush Inn° hearing they had gone in that direction, and closed in upon it. On searching the house the whole party were found, and their horses also in the stables. Five were then apprehended, and one yesterday morning, who is recognised as an old offender at Ballarat, and, it is stated, was the leader of a gang of robbers at Friar’s Creek. Upon being overtaken by the police, he immediately stripped oil and threw down his coat, in the pocket of which was found a loaded pistol and some ammunition and caps. The five men are at present in the lock-up waiting identity, and it is to be hoped that parties who have suffered by their depredations will come forward and aid the due course of law.— Herald, March 1.