VICTORIA.

Southland Times, Issue 1013, 31 August 1868, Page 3

VICTORIA.

(PEOM OTTR OWN CORRESPONDENT.)

Melbourne, 22nd August 1868

The business of actual legislation is now being carried on in earnest. The two parties have not entirely buried the Hatchet, but by a kind of tacit consent both appear to be pulling up the work that accumulated during the memorable * dead-lock,' and although the fire of antagonism still burns, it has assumed the character of an attack on men, not measures. The M'Culloch Ministry have been entertained at a complimentary SOriee at Ballarat. It was a grand affair, many able political dpeeches were made, and Mr Higinbotham especially distinguished himself. There could not have been less than three thousand persons present, including ladies. Besolutions were passed in favor of the policy of the Ministry* One of the leading features of the policy, as stated by Mr Higinbotham and other members of the Government, is that of still further liberalising the Land System, the promotion of a constant influx of poputation, and the rapid settlement of the | colony.

The anxiously looked for Financial Statement, was made in the Assembly by Mr M'Culloch on the 18th inst. It certainly is more pleasing than was anticipated. The great deficiency, estimated by the Sladen Ministry, appears to have been a myth, as Mr |£!Culloeh calculates , there will be a balance from the year 1867 to be carried to the credit of 1868, of £652, but that the current year will show a deficiency of £61,131, but he thinks this will also be wiped out before the accounts are closed. It must be understood, however, that nearly £200,000 has been paid off the debt of the colony during the year. The Legislative Council appears desirous of obtaining a conference of the two Houses to consider the reforms necessary in the constitution for the working of both harmoniously. The Ministry, however, does not appear disposed to confer with the Council on the ' Subject. In answer to questions of Jion". members, the Colonial Secretary, in the Assembly, on the 19th inst. stated it was not the intention of the Government during the present session to ask for any conference with the other House with a view to the amendment of the Constitution.; that new regulations relative to the working of the 42nd clause of the Amended Land Act were being framed, and as soon as completed would be laid on the table ; and that the report on the working of the Land Act during 1867 would be laid on the table of the House on Tuesday next. It is generally believed that things will now goon swimmingly.

To- quit politics, one of the great events since my last has been the unusual tidal agitation experienced all along the coast of Australia. There has been much speculation as to its cause, but our scientific men are maintaining a discrete silence, until they have received information as to whether the same has been felt in New Zealand and other parts. The effect of the termination of the deadlock is being felt in a most beneficial manner. It was of course expected the re-opening of the Treasury would improve trade, but I think few anticipated its full effect, just imagine the result of the sudden circulation of between one or two million of money. It has "been wonderful. For the past three years government officials have been living upon credit, shopkeepers hard up for cash, and the whole community depressed. Now things are entirely changed. Bills are being paid, business is brisk, and confidence in the future of the colony stronger than it has been at any previous period. In mining matters I have but little fresh news to transmit. The established fields have, with the advance of spring, increased their yield, and new discoveries are reported to have been made in the Q-ipp's Land district, and new ground has also been broken at the Ovens. The news from Queensland is not so encouraging as previously, but your Auckland reefs are attracting great attention.