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THE PUBLIC ACCOUNTS.
The Treasury has, with unusual punc tuality, afforded to the public the means of ascertaining approximately how the revenue and expenditure for the past year stand in
comparison with each other and with the totals of the previous year. That is to say, it has published the abstract for the fourth quarter of 1869, which, supplemented by information previously committed to print, enables us to give the results for the entire twelve months. The receipts for the quarter represent an aggregate of £153,535, or £14,464 less than in the corresponding quarter of 1868. The expenditure amounts to £161,944 — an excess of £8,409 over revenue, and of about £2,200 over the outlay during the last three months of 1868. The income under Part I., Ordinary, includes £57,137 for Customs- (in- orease over 1868, nearly £6,000), £1,102 for Marine Board, £3,121 for rents of Crown lands (decrease upon 1868, £7,700), £6,798 for postages (decrease, between £300 and £400), £4,389for fines, fees, and forfeitures, and £4,493 for reimbursements in aid (an increase of £3,000). The telegraph receipts are set down at £2,263, or fully £620 less: than in the December quarter of ' last year. ; As this decline comes in connection with; the 'reduction of charges, the comparison is1 nything but satisfactory. Certainly the last two or three months have been barren of events likely to lead to the employment of the wires, and it would not be fair to take that period as a fair index to the result of lowering the schedule. Towards a total revenue of £24,000 in Part II. railways contribute £19,203. The Treasurer has evi dently not conferred with the Commissioner of Public Works in regard to this item ; for the figures scarcely bear out Mr. Colton's sanguine promises of a few weeks ago. The revenue from this source for the closing quarter of 1868 was £22,812. 'The Goolwa and Victor Harbour Tramway also exhibits a falling off of nearly £100 ; but there is a line of £418 for the new railway in the South, which has no parallel in the accounts of last year. Water rates, too, have increased from £4, 128 to £4,937. The Crown Lands Sales have yielded this year £39,713 against £60,358 in 1868. This discrepancy alone will far more than account for the decrease in the total revenue. The Under-Treasurer has also taken to account of receipts £6,600 due as interest upon the celebrated £220,000 worth of Immigration Bonds. Passing to the Expenditure side, there has been under Part 1. Ordinary, a reduction in outlay of close upon £18,000, the totals being for 1868 £98,398; 1869, £110,147. Oh examining into particulars we find that the fixed salaries have decreased from £24,806 in 1868 to £23,071 in 1869; provisional and temporary from £20,112 to £15,937 ; contingencies increased from £33,812 to £35,669 ; all ?-.\inces re duced from £3,667 in 186S, to £3,004 in 1869; pensions, retired allowances, &c, from £1,465 in 1868 to £652 in 1869; mis cellaneous services from £14,357 in 1868 to £9,724 in 1869; public works, buildings, and j improvements; £7,978 in 1868, nil in 1869. Proceeding to the Public Works and Under takings Fund, Part II, we discover that ; whilst 1868 could boast of a total outlay of ( £79,436, 1869 has compressed it into £#7, 678. The explanation of this extensive difference in amount is that in the former quarot r £48, 1 65 was set down for public works, build ings, and improvements— a line which is not reproduced at all in this division of the accounts before us. The other items run thus— 1868, fixed salaries, £3,247; provisional and temporary, £13,737; allowances, £180; contingencies, £14,079 ; miscellaneous ser vices, £20; 1869— fixed salaries, £2,817; provisional and temporary, £21,724 ; allo\rr ances, £13; contingencies, £13 14s. lid.; miscellaneous, 6s. 6d. In Part IIIa. the | expenditure has reached £32,075, including j £6,600 for interest on the immigration 'bonds, and £25,459 for public works. This latter sum forms the set-off against the £48,165 appearing in Part III. for 1868. The abstract, it must be remembered, does not enable an accurate analysis and comparison of the accounts with the corresponding quarter of 1868 to be made. .- The materials at command admit of only a general statement of the totals for the year just terminated. ,* The' revenue in 1869 was (approximately) £769,760, and expenditure £788,789. In 1868 the revenue, exclusive of
the £220,000, was £716,004, and the outlay £SS2,6S9. -The colonial income has there fore been more buoyant, and the expenditure more restricted in 1S69 than in 1S6S. For all that, the balance has not got to the right side, but is on the contrary £20,000 in round numbers to the bad. We are not yet in a position to make doubtful financial experi ments, or to cry 'Hold, euough,' to tho economists who have pledged themselves to bring our disbursements within our nieaus.
Australian Federation.— The AssomUJy has expressed its undiminislied faitb in tho propriety of a Federal Union of the Aus tralian Colonies. Tho subject was ru- Wednesday introduced by Mr. Carr in ait excellent speech, which touched slightly on one or two of the many points that can be urged in favour of federation. It would have been almost the same had hy intro duced the motion with a string of tho veriest platitudes. The House regarded the question as one of. merely abstract moment. There could not have been much less interest evinced had the point for discussion Ixieu the necessity of guarding against- the effects of a second deluge. During tin.1 discussion there was seldom, much mow? than a quorum present, and those who spoke had only themselves and one or tw- patient members for listeners. Of course tho Government had to declare their policy, and the Treasurer was) their spokesman ; but his address failed to convey the impression that he was really anxious to bring pro tracted negotiations for even a commercial union betweon the colonies to au issue. There wns no one inclined to exhibit suf licient interest to oppose tlie resolutions, which were accordingly carried as they stood, although a feeble attempt was made V- exclude New Zealand from the prospective Zollveroin. Once more, then, the Govern ment have been instructed to open up coui lnunicatious with the neighbouring Govern ments, but from their half -hearted approval of the policy affirmed the renewed negotia tions may be expected to be well-nigh still born. The time has arrived for something more practical than suggestions conveyed in mildly-toned despatches. It is pusillani mous to imagine that nothing cau bo done because it is difficult to inspire a common feeling of anxiety for union amongst all tho provinces. If Mr. Hughes devotes a portion of the time comprised in his new leaso ti office in stimulating the neighbouring Go vernments to action he will deserve well t-f the country. The reputation of more than one colonial statesman may be made by the successful carrying out of an object wluoh all the provinces profess to be 'exceedingly desirable.'
Guaranteeing Railways.— The House of Assembly is great in abstract principles. The more unmanageable it is upon questions viewed in the concrete, the more prompt do they become in committing themselves tf- generalities. A case of this kind occurred on Friday. Mr. Hart submitted a bakl proposition affirming the propriety of ex tending the railway guarantee system to u railway between one point on the Northern line and the River Murray. Mr. Bower pro posed to extend the idea still further l«y making the motion embrace the line from Clare to Wallaroo. The Treasurer and othsr hon. members, speaking in opposition to both, pointed out reasonably enough that the gua rantee system had by no means been proved here, and pleaded that a further trial sho'ld bo given to it in the South-East before indefinitely enlarging its application. This was intelligible enough, although by noincans a satisfactory answer to Mr. Hart or his colleague, who were anxious to have tbe moderate satisfaction of assuring thoir constituents that they had taken tbe initial step towards the carrying out of the Murray Railway. It did, however, appear rather inconsistent that Mr. Hughes and his colleagues, as well as others who hail acquiesced in his view, should almost immo diately afterwards divide in favour of a motion approving of the guarantee principle in connection with all lines of railway that it was desirable to have constructed in the colony. Of course, so far as any practical results are concerned, this decisionis harmless, but it is anything but statesman like to affirm a general motion of this kind when an absence of experience as to the working of railway guarantees was urged as a ground for not recommending a very limited extension of their operation. Many attempts have been made in a legislative point of view to take the steam horse to the Murray, but to all appearances he is not so likely to undertake the journey now ay lie was years ago.
Silver and Copper Coinage.— A few weeks ago Mr. Barrow move? v t::oiion in the '-Legislative Council requesting a compre hensive report upon defaced and worn silver and copper coinage in circulation. The Government in their extremity appealed for assistance to the Banks. A copy of the resolution passed was forwarded to each of these institutions, with a request that the Managers would be good enough to favour the Chief Secretary with any informa tion they were in a position to supply. Messrs. Tomkinson, Crawford, Spence, and Souttar express their regret that they cannot further the object of the enquiry with any details that were worth the pre paration. Mr. Douglas, for the Bank of South Australia, reports as follows:— 'We have no means of ascertaining, even approxi mately, the average aggregate value of each denomination of silver coinage in circulation in this colony. (This Bank has imported £1,000 in tnreepenuy-pieces since 18G4. Total silver imported by us during the same period, £27,000.) We cannot estimate the total nominal value of all silver coinage worn and defaced, but should think the deprecia^ tioh may be taken at not less than 5 per cent, of the silver circulation. Bronze coin imported and circulated, ±2,250. Copper coin in circulation, cannot say. Probable cost of exchanging copper for bronze, t» per cent. The Bank has always imported new coin when obtainable at the Mint.' Mr. Young, on behalf of the National Bank, forwards the subjoined reply:— 'It is im possible to give actually or approximately the average aggregate value of each denomi nation of silver coinage in this colony, and equally impossible to even estimate tho amount of defaced or worn silver in the province. 1 may, however, mention, for your information, that previous to the Bank's refusing to receive worn silver and copper tokens, a very considerable quantity of botli was imported from the other colonies, where such representations of value were throws out of circulation by the action of tLfc Banks there. Prior to these importa tions, the coin currency in South Auk tralia was in very #ood conditioa, as periodical shipments were received'direct from the Mint at the cost of various issuing Banks in Adelaide. There is suffi cient bronze coin in the province to replace all the copper coin in circulation, and the latter is being gradually reduced. I do not think any action of the South Australian Government in tins matter is desirable, a^ should any of the various proposals towfth draw inferior copper and worn and defaced silver coins be attempted, the \mlnlr.iw,ii must include all such objectionable currency elsewhere, as it is natural to suppose the im ports ^abovementioned would be resumed.' This is about as definite information as ia, likely to be forthcoming upon a sub Jeofc
trhich. has become one of considerable inte rest to the colony. As yiet the report nought for by the Council has hot been pro duced ; but it will not probably, add much to the stock of information already collected, if, ndeed, it is ever brought to light. Northern Territory Litigation.— Long expected come at last I That which has been threatened with wearisome pertinacity for years is likely at length to be carried out. The »'Overnment have been served by Messrs. Stow, Bruce, & Ayers, acting on behalf of the North Australian Company in England, with a notice to name a person to act as defendant on their account, and be the recipient of whatever legal documents the ingenuity and industry of the plaintiffs1 solicitors can prepare. The first instalment, explaining the object of the notice, is a formidable petition, comprising a score or two of brief sheets, and affords Mr. Strang ways a faint and by no means cheering glimpse of what he will have to undertake, should the Opposition, with mistaken kind ness, allow him to retain office. Of course, the least that the Company can do afte their masterly inactivity in the past is to show now that they mean business. The Government have not as yet sent a reply to the petition, being too much engrossed with the peril of their own position. It is worthy of notice that this overt action has been taken immediately upon the decision of the Assembly to overlook the negligence and menaces of the land-order-holders, of what ever kind they have been, and allow them, prior to the 30th June, 1870, to make application for the extended area. Par liamentary magnanimity has been thrown away upon the Company, and perhaps the Legislature may see nt, so far as it is con cerned, to revoke their friendly and liberal offer. Those order-holders in England who are not committed to litigation to recover : their purchase-money may be tempted by the Assembly's act of grace to abandon hostilities, and select their 320 acres. At all events, it is well for them to know that the : opportunity of doing so will be accorded them. Rearrangement of ElectoralDistricts. i— The schedules to accompany the new 'Electoral Bill have been tabled in the 'Assembly. They have been prepared by ?the Chief Betnrning Officer, and involve ?considerable changes in some of the districts. ?'©he — the Sturt — is threatened with absorp 'tion, anew one— Wallaroo— being suggested ?in' its stead The Port District, or what should remain of it on this side the Gulf, ?twbuld apparently be enlarged, and so also would be West Torrens and Yatala. The Sturt would, in fact, be partitioned among 'these suburban constituencies. The definitions «if 'boundaries are considerably altered in other -cases. The Returning Officer has furnished '&? report to accompany plans and definitions for the redivision of the colony. Yorke's ?'Peninsula is to be created into a separate -district, and Mr. Boothbythus explains the principle upon which the consequent redis ? tribution has taken place. He says: — '''?In the proposed re-arrangement I have -been guided in the main, in making ???alterations, by a comparison of the number of Mult males in each district, as at present constituted, with the standard number of .2; 202— being the whole number of adult males in the province divided by eighteen. ' Applying this test to the present districts, - the Sturt appears the lowest in the scale, 1;273 ; Noariunga the next, 1,357; West -Torrens, 1,386; whilst Port Adelaide ?-numbers 4,000. As the Sturt is abutted -north and south by the two next lowest 'districts, I have divided this district between ?West Torrens and Noariunga, as shown in tile plan.' Subjoined is a return showing ?4be biumber of adult males in each district, as : at . present and as proposed. It is ihaBed .nn the number resident in each /district respectively at the date of the «ensu*!of 1866 :— On standard, 2,202. ' '!» ''?? . Adult Mala-?. ?2fo.:-j: ?District. As at present As proposed. ^-.?East-Adelaide ... 2,585 2,585 ;;&.,ySTes! Adelaide ... 2,897 2,897 V3. PortjAdelaide ... 4,000 2,005 ^.Wallkroo ? - 2,47$ j^ej&Torrens ... 1,386 1,817 ,'e.-,YatSla ... ... 1,443 2,080 »;?:'G&meracha ... 1,770 1,914 V& &sH\-rrens ... 1,884 2,028 ^.'?Nttarlnnga ... 1,357 2,049 ?m'M-tanJ Barker ... 2,057 1,987 11; Onkaparinga ... 1,616 1,616 ^.Encounter Bay ... 1,735 2,269 .18, Bopqsea ? 2,226 2,336 4£-l4gbtc ? 3,166 2,573 15... Victoria ? 2,925 2,611 16. Bufra ? 1,720 2,203 17. Stanley ? 2,952 2,006 18. Flinders ? 2,655 2,193 ??-Sturt' ? 1,273 — ' ... , flli ? '., ?'. Total. . . ... ^39,647 39,647 .v';'jThe' Pastoral Bill. — It is astonishing .$a witness'the change which has come over j&'inpiia'ipf legislators in three or four short -years. , upon the subject of squatting. In ^gtiir qo .opprobrium heaped upon the de _Y#jte$^ads of the plutocrats who ruled -ffi5?£ r$e ?Eastoral lands was considered to e)cc^ed^ the requirements of the case. Now ^anb^ers,,ore eager to show them their jjenitencej: and to expiate their offences .wiflv .unlimited concessions. When the ^a^tqral -Bill was brought in this ses jsibn^Tjy'.'Mr. Strangways, proposing an extension 6t seven years to some lessees, and 91 /.ten, years to others, the impression pre yafled'outside that a substantial favour was ,T}$jng conferred. This impression at first jf,9pna. .expression in Parliament; but the gejwrosity of the Assembly has expanded jjngterjaDy. .. Leaders and would-be-leadere ,^e7.jy$h?. pach other in advocating Ube ja^ty^,. NoJ proposal is condemned because i^'^ajtr^s' too 'much, but clause after clause ^s-^eeii. ^ irecirastructed because it granted jjo/^litjle'..' On January 28 the Bill com ^Jej^d, its .career in Committee, and emerged ; ngt shape which should be satisfactory even ;i;o|lie^tenarits themselves. The Attorney- I feenqraj. was, iinprecedentedly complacent \ Hi§,,new_ifile of the squatters' advocate ] seemed. . 'to;y have worked a com- \ pT,ete' regeneration in him. He allowed , the. seven years to be transformed into ten, j s/opt. the -ten into fourteen, without serious ! ] O^ectiqn';'' he. looked patronisingly on an ?] ^npriebneni^ /granting the whole class of '; pastoral Jessces compensation for their im- j jjpveinerits ; he himself proposed clauses \ giving an appeal against valuations. It was 3 $ ^easing picture of the modifying effect j wihict^ Official, surroundings have upon in- ] m^dii£d;predilections. The Bill is really a ] ^er^J,onenow,and as such will doubtless \ b^/accepted, without demur by the Upper ] House. , . ,' ^ . ? ? i *', Vacancies, in the Assembly.— There are 1 now. ^W|9 vacancies in the representation of j the. people in the House of Assembly. One j ol! tnese .hWriyeen brought about by the \ resignation of the Hon. R. B. Andrews, whose ] acceptance of an office of profit under the I Crp\?n, has led to his retirement from political 2 life, ! The District of Sturt, before being de- 1 pnvedof,el!B.ctoral existence, will at all events £ Kaye thy. opportunity of returning one more i representative, and, judging by the speediness e of ttie action. taken, candidates, for, the t Suffrages' of -tiie. voters will not Ibe wanting. 1 ^e^oi, Arthur Blyth, through, his ] eKieenaed^.relative, has already offered ( his ^rviceg. . J)j, :p. iSpicer, too, is in the J^a^.and x)tner eligible gentlemen are 1 freely' mentioned. The district to which s the other vacancy relates is West Torrena, Q
The time allowed , Mr. Bean ^f or rionatten darice wi&'impunJty has expired, and a new election ..will have to take 1 place.; Mr.! Jpotfrell made an' effort' to obviate the 'necessity for this by moving that; lekye of absence be granted to Mr. Bean, but his well -intentioned proposal came too late. It is stated that the late honour able member, thoughtful as to contingencies, has left behind him his consent to stand again if elected, eo that West Terrens may not after all be deprived of its favourite. Messrs. J.. Pickering and P. B. Coglin have already offered themselves as candidates for the vacancy. Holdfast Bay Pier and Railway Bill. —This measure has at length found its way before the Legislature. Its object is to authorize Alfred Watts, of Adelaide, mer chant; Arthur Harvey, of London, gentle man ; George Ernest Hamilton, of Adelaide, civil engineer; Percy Wells, of Adelaide, merchant; and Edmund William Wright, of Adelaide, architect and engineer, to construct a railway from the present Port terminus to Holdfast Bay, together with a pier and the appurtenances thereof at the extremity of such railway. All the; usual powers and privileges are to be conferred upon the undertakers. The gauge of the' railway is to be 5 feet 3, the weight of the rails 45lbs., and the propellingjpower of the trains locomotive engines. The : military,: police, and mails are to be carried free ; tne undertakers are to have authority to levy such tolls as they think fit to demand; the undertaking is to be completed within five years. The Governor is empowered to purchase the line, lay down a telegraph,' and so forth. There are 23 'clauses mall,; most of them being the stock provisions in measures of this nature. On Tuesday last, in the Legislative Council, the Bill was read a first time, and referred to a Select Committee,, to report in a week. The Crown Solicitorship.— The Attor-i ney-General put an end to the many vague reports circulated as to the successor to the late Mr. Bakewell, Crown, Solicitor, by appointing the Hon. R. B. Andrews, Q.C., to the post.; Rumour had it that some rearrangement, of the legal business of the Govern-j meut was to take place in connection! with the filling up of this office, but rumour has been at fault. There are' few who will offer objection to the appointment, made, for Mr. Andrews has at all events the personal goodwill of the profession, and of those with.whom in his public career he has come in contact. Mr. Strangways has con trived by the selection he has made to get rid of an opponent in the Assembly, and a gentleman whose rivalry in respect to the position of responsible law adviser to the Government he had greatest cause to fear. Rearrangement of Stipendiary Magis trates. — The Attorney-General has at length put the Stipendiary Magistrates out of sus pense with regard to their locations. Mr. J. S. Browne, of Mount Gambier, is, at his own request, to be transferred to Port Lincoln, and will be succeeded at Mount Gambier, Penola, and Port MacDonnell by Mr. R. J. Turner, of Gawler. Mr. G. W. Hawkes is to take charge of Mr. Turner's vacated circuit, and Mr. E. J. Peake will succeed him at Port Adelaide, with general instruc tions to visit the Courts along the Northern line of railway (Gawler and Kapunda) when necessity arises. Bis services in these Courts will principally be confined to police cases requiring to be dealt with at once. The remaining Magisterial Circuits will be left undisturbed. Mr. Scott will continue to administer justice in the South-East. Messrs. B. F. Laurie and G. F. Dashwood will divide the Southern and Eastern Courts. Mr. Varley will remain where he has been for some time past, andMr.-&hepherdson will be retained at Wallaroo. The rearrarigemenfcof bhe Courts has not been absolutely settled. Ihe removed Magistrates are' Messrs.. Marshal MacDermott, S.M., and , Mr. BEenry James Smith, S.M.',, who ceased -o hold office on the 1st February. TKe ormer has filled a place on the Local soxot Bench since early in June, 1859, and ie latter since March, 1861., The Sooth Australian ^nsitrance Com PANY.-r-This Company, one of the oldest of -ur local institutions, is still in a prosperous itate. The report Bhows that the income' in ihe fire department, 'during tthe ' year has ?eached £8,101 3s. 7d., being an increase of E934 10s. lOd. over the,- previous year's )perations. The losses have exceeded those )f last year by. £4*902 4s. 8d., their gross unount being £6,247 : 15s. lid. In the narine branch a fair amount of business has aeen done with satisfactory results. The premiums amount to £13,990 16s. 9d., wing £4,613 19s. Id. more than in 1 868. - The losses and averages give a ;otal of £10,460 14s. lid., being £9,720 Is. 6d. in advance of the preceding year. Che sum realized by way of interest in the oan department is £4,250 8s. 8d.— an ad vance of £2/0 7s. 9d. upon the previous iwelye months. The Directors, not un reasonably, point to this as a fair return for n vestments at this time when good securi ies are not .particularly abundant. The aggregate profits from the three departments s £8,573 168. lid., in addition to a sum of S4,425 expended in paying an interim divi lend. ' Out of. this fund the payment of a econd dividend is recommended, which will ibsorb £5,000, thus leaving an, unexpended balance of profit amounting to £3,573 6s. lid. The dividend wUl be: at the rate if 10 per cent., or 2s. a share upon £50,000 Forth of paid-up capital, and will make up nterest to the shareholders for the year to 10 per cent.: The interest unpaid at the date if the balance-sheet was £1,611 19s. 4d. .', The Adelaide Marine and Fire As urance Company.— Therepprt and balance heet of this Company just issued, explain he reason why the share quotations nave eceded so far from, the figure, they'at one ime reached. There has been a steady in rease of business in the Marine Depart aent, but it has been almost equalized by he losses. The premiums for the six months ealized £59,797 5s. Id. against £47,297 8s. d. for the first half of the year, whilst the osses are set down at £59,677 18s. lOd. Of his large amount the claims, actually settled oake a total of £45,408 18s, 10d.,,-the re naming £14,269 being set aside to balance osses advised, but the; extent of : which tas not been precisely ascertained, ['he Fire business done -has been very united j the premiums being £2,766 13s. 10d., nd the losses £2,238 5s. lOd. ' The profit on he two branches £646 .14s. , 3cL,- togetiiei fith receipts from interest and other sources lasnot been nearly sufficient to meet cur ent expenses, and agency charges. The otal loss amounts to £1,989 10s. 4d. The )irectors have no alternative but to rafraio rom recommendinga dividend, and to express , hope that the reverses which have fallen on he Company may now have terminated. The' fcaiement of liabilities and assets show that be Reserve Fund is now represented by a tun. of £14,281 8s. 8d. Amongst the ssets are sundry debtors,; Adelaide, £1,700 3s. 9d. „? Melbourne. £1,800 14s. 8d. ; and Kmdoni £l0,56510s. lOd. -,, , ?*:\--i a- ? ??-, ????*?? 1 ;?-,,??.-.,-?,:' Tee Almanda Silver MisiNa A^socii- ? [ON.— The annual report ,and balance leet of the Almanda Company were issued 1 Wednesday, the latter being made up to ;
l&e'Slsi; December last. Itexl^bits agr6s8llex-: j penditure to that date of folly twelve ' thousand pounds, which has been met l^r 'calls to the extent of £9,974, silver produced 'to the1 value of £692, arid minor receipts £25. There was a deficit of fully thirteen hundred pounds, which seems to have been somewhat reduced during the current month. A statement of assets and liabilities, brought down to the 25th instant, gives the latter at £908, and the former at £6,325j in cluding machinery, tools, buildings, quick- ' silver, and retorted silver on hand. The sixth call, which was due on the 20th. instant, ought therefore to have placed the Directors in possession of a small credit, besides the marketable; silver that has been realized from . recent crushings. Since the starting of the new, machinery in July last 1,092 tons oi, ore havebeen put through the amalgamators, . and the produce of standard silver has' been over three thousand ounces. The iirectprs still take a, sanguine view of the situation, as may be inferred from the concluding paragraphs of their report, which ,we8ubjoin^:— ?. * '...'' 'The Directors are preparing a. simall parcel of the ore from Bagot's leVel for liansinissipn to England^ with'a view of ascertaining its value ' and the most effective .mode oftreatmerit. In the Tneantime they are' negotiating with a con tractor to undertake the sinking of a proper shaft on the course of the lode, and to connect the requisite pumping-gear with, the engine now oa the mine. f .... ?? _,,.; ; . , , :- f A favourable; offer; is under consideration, and the -Directory rpcommead . that no time should be lost in pursuing this important work, as it would thoroughly test the mine ; and, judging from what; ! is at present in view, they have great hopes, that' in the course of a few fathoms sinking the lode will become concen trated and remunerative. '