HARD TIMES IN SOUTH AUSTRALIA.

Southland Times, Issue 662, 26 April 1867, Page 3

HARD TIMES IN SOUTH AUSTRALIA.

(From the " Mount Gambier Standard.") A succession of circumstances of an unfavorable character has tended to make South Australian prospects for tbe winter just opening rather gloomy. The drought in the Ear North, which ruined so many weak capitalists and weakened so many strong ones, was followed by a sudden panic, communicated to us by the adverse state of British finances and distress ; and this occurred unfortuuately just at tbe precise time when the banks might have proved of immense service in sustaining trade and credit in the colony. Whether or not the banks were justified in the stringent measures adopted, under the instruction of the English boards of direction, we cannot say, but we all know that the action taken compelled a stoppage of trade, and a host of insolvencies, which were to say the least unexpected. Some persons think that, after all, this was a necessary remedy to the unhealthy state of affairs which had arisen from overtrading, and that as a commercial community we shall be all the stronger for this sharp pruning. If so, the banks have done us a signal service : we will leave the matter to individual opinion. A third trouble has come quickly on the previous ones. "Whilst trade was thus paralysed an abundant harvest came in, but with such low prices and so little prospect of a suitable market, that the farmers have been reduced to the verge of despair. With wheat reaching so low a figure in one case as two shillings and threepence, of course all expenditure must be absolutely stopped, and employment of labor was out of the question. To complicate the difficulties of the case, imported labor was arriving in heavy shoals, and at the same moment one of our great labor absorbing interests — the Burra mines— stopped working. We stand as a colony then in a position which would be ruin to another community, but which in our case may and will be but the backward step of the lusty youth ere he makes a vigorous spring forward. ~ Yet is there a difficult and trying season of some two months ~to get through ; and we observe that one of our Adelaide contemporaries, the Express, reviewing the condition of the country, has recommended that the Parliament should be called together for a short session with the view of dealing with the question. The first point will probably be the introduction of capital and the employment of labor, This would g*ive an impulse to trade, and with this view they propose that tho Government shall negotiate a loan and prosecute useful public works. This is an old cry, but in this juncture we think a particularly appropriate one { and no more sensible step could he taken probably to meet the approaching evils than the summoning, together the deliberative power of the pro* viace*

The late English news, of which we "give "copious extracts, is rather favorable to us as wheat-growers, the prices in England continuing to harden, leading to the supposition that there may still be a demand for the English market. Concurrently we hear that the Victorian market, which we had supposed was closed to us for the season, will most likely take - considerable quantities of grain, and that purchases will probably be made whilst prices range low. So far as Mount Gambier is concerned, the influences which moved Adelaide were to a great extent unfelt. We have not sustained any panic, and our present difficulties arise only from the low price of grain. A rise of one shilling per bushel would bring serenity to every face; one and sixpence, smiles ; and two shillings, laughter ! Notwithstanding this, as we have a large population of Workers, many of whom will be thrown out of employment directly the grain is cleaned and housed, we urge this district to join in the request for a short session of Parliament, convened specially to deal with this question of a loan and employment of labor in reproductive public works.