as
was anticipated, and hopes are entertained that the evil will go no
further. A stream of population, it is thought, will be directed to
Australia from abroad, and the labour not demanded by gold may suffice
for other pursuits. Up to the date of the circular, the value of gold
shipped for England from New South Wales had been L. 217,000, and it
was supposed that about L. 130,000 more remained at Sydney and in the
hands of the miners: 10,000 persons were actually engaged in mining,
and 5000 more concerned otherwise in the business; and as the result
of the exertions of that multitude, the amount of gold fixed
arbitrarily for exportation during the next twelve months, is L.
2,000,000.

But, on the other hand, in the Sydney district alone, the trade in
wool has already fallen off to the extent of several thousand bales--a
deficiency, however, not as yet attributed to the diminished number of
the sheep. It is supposed that the high rates of labour will operate
chiefly in disinclining the farmers to extend their operations; and if
this at the same time affords them leisure and motive to attend better
to the state of their clips, it will ultimately have an effect rather
beneficial than otherwise. Australian wool has hitherto been
attainable by foreigners only in the English market; but it is a
favourable symptom that two cargoes left Sydney last year direct for
Hamburg. To shew the falling off in trade during the gold year, it may
be mentioned that the exports of wool in the two previous years were
about 52,000 bales; and in 1850-1, about 48,000. There was likewise a
deficiency of about 6000 casks of tallow, and 3000 hides.

It is interesting to notice, that preserved meats are sent from New
South Wales to the neighbouring colonies and to England in
considerable quantities. Timber for shipbuilding is rising in
estimation in the English market. Australian wines are said to be
fully equal to Rhenish; and a Vineyard Association has been formed for
the purpose of improvement. Wool, however, is at present the great
staple; and the Circular seems to derive some consolation from the
idea, that if the crop should continue deficient, prices in England
will probably be maintained. 'To anticipate the future prices for our
staples,' it says, 'in a market open to so many influences as that of
Great Britain, is almost impossible; but it may be well to point out
the causes which are likely to affect their value--we allude more
especia