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The Advertiser
SATURDAY, OCTOBER 19. 1872.
THE NEWS.
The arrival of the Rangatira early on
Friday morning with the English mail
showed the wisdom of the Government in
dispatching her from Adelaide as early as
they did. A good many people thought
that the branch steamer might have
safely been delayed another day or two.
As the ocean, steamer was not to leave
Melbourne until Friday, it was thought
to be rather absurd to send off our
steamer on the Monday preceding. But
the result has shown that the Govern
ment exercised a wise discretion. The
Bangatira left Port Adelaide on the even
ing of Monday, October 7, and arrived at
King George's Sound on Sunday after
noon at 4~30, having made a long voyage
of 140 hours against head winds. On the
previous evening, at 7 o'clock, the
Baroda arrived at the Sound from Galle,
and left at noon on Sunday, four and
a-half hours b^ore. the arrival there
of the fiangatira. From our Mel
bourne telegram it appears that the
Baroda arrivedinHobson'a?ayat4o'clock
on Friday. If, therefore, the branch
steamer had not left Port Adelaide until j
Tuesday instead of Monday, we should
again have been subjected to the annoy
ance of receiving the first intimation of
the arrival of the mail from Melbourne.
As it is, we have by the foresight of the
Government obtained the full advantages
of our geographical position. Had the
voyage of the Bangatira to King George's
Bound been an average one, wo should
have had the mail here in good time on j
Thursday.
Taking the news altogether, it is not
unfavorable to South Australia. The
only cause for disappointment is the
decline in the price of copper. Last
month Australian copper was quoted at
£98; this month it is down to £94.
This is not a price to grumble at,
but during the last few months we
have become so accustomed to high
prices, that we are apt to find
fault with anything under £100. The
reduction may have the effort of check
ing undue speculation here, but it will
not interfere with the operations of bona
fide mining. Well established mines will
pay at £94, while the price will afford
ample encouragement for really good and
new enterprises. As far as we can judge,
the copper market has been in a some
what excited state during the month.
The Home News, published on September
6, gives the price of Australian copper at
£103 to £108. The European Mail, pub
lished the same day, says :—" The sales
for the past month of Wallaroo and
Buna Burn have amounted to 3,840
tons, at £97 10s. to £101 cash, and £102 i
to £105 10s. for one and two months,
the market closing with a further depres- !
sion at £97 10a. to £98 cash, and £99
1 one montiL" Twenty days later, it will
be seen by ourtelegrani?, the price quoted
is £94.
On the other hand, the wool sales
opened well, and at oar last dates there
wa? an average advance of l|d. per lb.
This is good news for the squatters. It
will be seen that the highest advance is
in medium scoured. Adelaide -wheat is
quoted at fxom6ss. to 68s. a quarter, or say
Bs. Cd. per bnaheL At the same time the
prospects of the English harvest are bad.
The crops will be inferior both in quantity
and quality. It is to be hoped, there
fore, that if our harrest turns out as
favorably as it now promises to do, we
shall hare a good market in England for
our large surplus. A moderate estimate
of this surplus, should the present fair
prospect be realised, is 150,000 tons,
which at £10 a ton would give one and
a half million sterling as the proceeds of
the wheat crop, after supplying our own
wants and leaving ample for seed for the
next year.
The Geneva Arbitration Tribunal has
given its verdict on the Alabama claims,
and awards lot millions of dollars to
America, which as a matter of course
England will pay, although Lord Chief
Jostice Cockburn, one of the Arbitrators
for England, has refused to sign the ver
dict. The sum is not a large one,
and will easily be covered by a twopenny
addition to the income tax, if it is deemed
desirable to meet it in that way. We
shall be well out of the difficulty by pay
ing a little over three millions. It is
worth thi? to keep on friendly terms with
the great American people, especially as
an impartial tribunal has found that we are
liable for the amount. Curiously enough,
the award of the Arbitrators has con
demned England for the reinforcements
received by the Shenandoah at Melbourne.
So it appears that, according to interna
tional law, the colonies may not only
suffer from the action of the Imperial
country, but the mother country may
suffer from the acts of her colonies.
_There are many other questions of im
portance which we might refer to in
detail, but we are anxious to devote as
much of our space as possible to the news
itself, deferring till other opportunities
comment on these questions. A fair and
well-written resume of the important
events of the month will be found in our
London correspondent's letter. There is
one 'subject, however, on which our cor
respondent has not touched, for the very
obvious reason that he is not in a position
to know much about it. It is with
respect to the table from Java to Port
Darwin. Nothing farther appears to be I
known on this matter, and the only
reference to it is the statement that a new
set of grappling apparatus for lifting the
cable had been dispatched from England,
and it may be hoped that before this
time the work of searching for the cable ,
has been resumed.
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