THE POSTAL SERVICE AND THE PUBLIC.

Colonist, Issue 97, 24 September 1858, Page 3

THE POSTAL SERVICE AND THE PUBLIC.

{From the IMloume Herald, September 3.) ■ The present aspect of the Overland Mail question is about as cheerless and unsatisfactory as it is possible to conceive Taking ia retrospective glance at the dismal history of the contract entered into by the home government with the European and Australian Company, we find that failure of the most disastrous kind has resulted from the'ill-directed labors of those speculative British shareholders who, under the style and title above named, ventured to stake their prosperity on the issue of an enterprise which was rendered doubtful in a twofold degree by bad management and worse extravagance. It may bo urged that we possess no right to analyse the financial arrangements of a bankrupt company, and that the directors aro answerable to none save the shareholders for the distribution of the funds intrusted to them, but we hold that the colonists are justified in referring even harshly to a course of proceeding which has tended to inflict great inconvenience and loss upon them.. The directors of the E. and A. Company appear to have forgotten that their ultimate success depended not so much upon the rash expenditure of capital as Upon the judicious administration of their affairs. They seem to have indulged in a great deal of pleasant contemplation of profits at the outset of their task, and to have become suddenly paralysed by the prospect of insolvency; and, to confesV the truth, their utter prostration of spirit is not to be wondered at. The experience which gave them' wisdom, cost about a quarter of a million sterling, in hard money, and no man can say how much hi an indirect way. But it is not with the misfortunes or the incompetency of any particular board of directors that we have to deal at this moment, further than for the purpose o'f.shewiog^o.what a disastrous condition a wealthy proprietary may be brought by sheer mismanagement,—supplemented, perhaps, by a little of that iil-luck which .always follows in its wake.

From the commencement, the E. and A. Company was a rank failure. Its promoters injudiciously entered upon a line of operations, the beginning and the end of which.were alike imperfectly defined; but although the losses which have been incurred by that unfortunate company may be mainly referred to the causes to which we have alluded, it can scarcely be maintained that the undertaking would have proved remunerative,' in the absence of those elements of failure on the per contra side of which is arrayed a deficit of a quarter of a million. It may indeed be said that losses would have accrued under the most cautious system of management; and that the requirements of the service are so great that they cannot be met by any outlay short of an amount which neither the home nor colonial government would be justified in granting, so long as an existing company can offer us the material guarantees which are furnished by wealth, by success, and by experience. The P. and 0. Company can do these things ;—nay more, the directors of that powerful undertaking can, if they will, resolve the whole question of postal communication for us, at a cost which would enable the colonies of Victoria and South Australia alone—in view of the probable defection of New South Wales—to provide for an independent line, via the Isthmus of Suez.

We have thus plunged once more into a subject, upon which an infinite amount of speculation has been lavished, and have done so because we perceive that the members of the Melbourne Chamber of Commerce will assemble this day "to consider the position of Steam Postal Communication." We sincerely trust that our local merchants will muster in force, and give expression to the opinions entertained by the mercantile classes with regard to the course which it is desirable for the Australian governments to adopt, so that henceforward due and regular provision may be made for the conduct of the overland postal service. The arrival of the Australasian, with the English July mails, will place us in possession of important advices touching the measures proposed by the home authorities for the continuance of the contract after the month of January, 1859, at which date the present arrangements will cease. Our readers are, doubtless, aware that the acceptance oFahyi tender will be "contingent upon the consent of the: colonies;" and that ordinary motives of prudence should dictate the expediency of at once canvassing the respective merits of the various schemes which are likely to be propounded. We are thoroughly satisfied that the members of our Chamber of Commerce are by this time sufficiently familiar with evpry phase of the question to be enabled to pronounce very positively upon the, merits of whatever rival projects the failure of the European and Australian Company" may have called into being. It is, however, to be Jiesired that the exposition of the views entertained by the Chamber should be followed by a public expression of the opinions of the general community; and to this end we would suggest that it would "be advisable to convene a meeting of the citizens of Melbourne.

We have no desire to anticipate any of the arguments or statements which will be 'brought forward to-day; but we conceive that three distinct considerations are worthy of especial attention. In the first place it falls, as we have already hinted, within the bounds of probability, that the government of New South Wales will exert every available influence to initiate a line of postal communication via the Isthmus of Panama. The accomplishment of this object would not only interfere with the movement which is now in progress for .the establishment of closer relations than those which have hitherto subsisted between this colony and the provinces of New Zealand ; but it would likewise throw the whole burthen of subsidising the Suez route upon Victoria, South Australia, and Tasmania. Secondly, it is reasonable to conclude that in opposition to any project for carrying ori an independent Australian line, the directors of the P. and 0. Company will be prepared toundertake a branch service from Point de Galle hither; and, thirdly, it will rest with the Chamber' of Commerce to determine whether or not it will be prudent to endorse a scheme identical in character with that which has so signally broken down under the auspices of the unfortunate E. and A. Company.

The first consideration appears to us to be of grave importance. The withdrawal of the subsidy granted in support of the Suez line by the government of New South Wales, will impose the necessity upon the sister colonies of curtailing the expenses at present incidental to the performance of the Mail Contract; and it will only to effect this necessary retrenchment by adopting; the simple expedient of establishing a branch line between Hobson's Bay and Point de Galle, in connection with the P. and O. Company's Indian line. This method of solving the question would have the effect of constituting Hobson's Bay the head quarters of a steam-fleet, and.of inducing our authorities to provide sufficient means of repairing large vessels at this port. But, we repeal, that whatever prospect lies before us of openirg up ati extensive trade with New Zealand will be rendered more or less definite by the promptitude, or otherwise, with which we dispose of the general question, and for this reason, as well as for others equally potent, we cordially hope that the members of the Chamber of Commerce will boldly grapple with the difficulties of the subject at the general meeting convened for this afternoon.

Cultivation op Cotton;—We are glad to learn that the cotton seed imported- by Mr. ;Edwiri Hickey from the United States is in considerable demand, so much so that he has found it necessary to postpone supplying gentlemen "ontside" until after the present month, to make sure of a sufficient supply for his tenants. The latter, as isjperhaps natural, shew some reluctance to engage in a new article of cultivation. It is probable, jndeed, that some period of repeated and successful instances of amateur cultivation of cotton must elapse before practical formers will be encouraged to resort to it as a matter of ordinary- business. Yet if success is once practically attained, and habitual cultivation once fairly begun, the colony will count among its benefactors all who have taken part in the early efforts.— Maitland Mercury. ' ...

A Mean May.—There is a man in New Hampshire so mean that he was lately caught btealing acorns from a blind hog.