ome portion of those advantages which are at
present wholly monopolized by others.

EFFECTS OF THE SPIRIT OF SPECULATION.

The masters of the American whalers participate in a great degree in the
feelings of the out-settlers; from the impressions generated in their
infancy they are disposed to look with a fraternal eye upon the few
adventurous spirits who have located themselves far from their fellow men
to reclaim a home from the wilderness. They have seen, lived amongst, and
shared the benefits which result from such commencements, and it is not
therefore to be wondered at that at all the out-stations the most
friendly relations exist between the settlers and the American whalers;
and when, during the five months of the bay whaling season, an American
vessel lays at anchor in some bay where there are one or two settlers'
families, a constant exchange of mutual acts of kindness takes place,
equally creditable to both parties; whence result friendship, and perhaps
an intermarriage; and when the period of the vessel's sailing arrives
there are numerous deserters from her crew, who readily find employment
at the different sheep stations.

DIFFUSION OF EMIGRATION.

Thus a species of emigration of which nothing is known in England takes
place in the colonies. Men, from the force of poverty, from the desire of
gain, or of founding a family and property in a new land, or for some
other reason, quit their homes and enter another portion of the globe.
There they find many who, having in the commencement of a settlement
realized the largest profits, are discontented with the percentage they
can now gain upon their capital; and what to the newcomer appears to be a
highly remunerating return they despise; gladly therefore do they dispose
of everything to the new emigrants and, animated by that restless spirit
of adventure which is common to all first settlers, away they start for
the last new colony or for unsettled lands--New Zealand, the Sandwich
Islands, the Indian Archipelago, it matters not which--a fresh field of
speculation has been opened, the tide of emigration from Europe seems to
be setting towards a certain quarter where there are numerous new
arrivals who can never compete with old and practised colonists. He who
has seen several cities rise can judge to a nicety, from local
circumstances, upon what site the capital of the new province must be
built; and in the same way he can foresee which must become the business