a new colony,
where almost all the draught is performed by bullocks, cart horses must
realize a good price. The hire of a horse and cart in Melbourne is, one
pound four shillings for the day.

In addition to those above spoken of there is another class of settlers,
who were the original stock-holders and land-purchasers in the district.
They have large tracts of country in the Bush, and thousands of sheep and
cattle on then, and all managed by servants and overseers. These
proprietors live at the clubs in Melbourne and constitute what is here
termed the _elite_ of society. A short time ago these gentlemen
entertained the pleasing notion, that there was to be no termination to
the increase and extent of their wealth; and one very young member of the
society was heard to exclaim, in apparent agony at his excessive good
fortune, "upon my soul, I am become most disgustingly rich." But mark the
difference The _elite_ have been living in the most extravagant manner.
They discounted bills at their own pleasure here at ten per cent; and
knowing well that these bills would not be honoured at maturity, they sent
them to London, and cashed them there: with the funds thus raised, they
speculated in the buying of land and stock, hoping to get (as in many
instances they did) at least eighty per cent profit by their transactions.
But now stock has fallen to a trifle; bills are falling due, rushing back
from England under protest--and the bubble bursts. The banks are drawing
in their accommodation, and the _elite_, who were a short time back so
disgustingly rich, are, whilst I write, most disgustingly poor. This is no
imaginative statement; it is a sober fact. But I do not suppose that the
present state of things will last long. Speculation and the rate of
interest must come down. When the human body is disordered, it is a happy
time for the doctor; when the body mercantile is diseased, it is the
attorney's harvest time. If an attorney has any business at all, he must
do well in Melbourne, for his fees are inordinately high. Protesting a
bill is five-and-twenty shillings; noting, half-a-guinea; every letter
demanding payment of account, if under twenty pounds, half-a-guinea; above
twenty and under a hundred pounds, one guinea; above a hundred, two
guineas. Every summons (a summons being a short printed form) before the
supreme court, is charged six guineas; and the clients pay down at once,
without any questions, too glad to do so, pro