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OUR SYDNEY LETTER.

(fbom oub own cobbbspondent. ) Sydney, June 11. The last loan raised of/ La,030,000, at 4 per cent., real interest per cent, L 3 16s, and negotiated, has been a great success, and Mr Watson, the Colonial Treasurer, deserves congratulation. Our securities have always stood high in the* London money market, but at no period in the history of the colony have we been able to borrow on such favorable terms. The record of our transactions shows not only that English capitalists are willing to lend all that we may desire to borrow but that every year their confidence is increased. This speaks well for om securities. If we compare the loan of 1881 with the prices obtained by other colonies, it is found that the credit of r New South Wales stands head and shoulders over all of them.- When Mf { -

Watson meets the House ill July bo $;,. Will be in-a position to tell bon. mem* Sobers not only that he has got a better *''■ price than has ever been obtained for New South Wales debentures before, •1 ; but that he has got a better price than bas ever been obtained by a British . - colony. There have been in all twentyone loans floated by this colony since the year 1857, seventeen of which have been under a million. In 1866 New ■ - South Wales Government got LBB 10s „ for 5 per cent debentures, whereas we now get LlO3 8s yd for debentures bearing 4 per cent., or, to put it in ’A simpler terms, in 1866 L 5 16s 4d per ~ cent was paid for actual money borrowed, whereas L 3 16s is now only ' paid. The currency of each loan is for thirty years. . While our rival colony, • - Victoria, pays L 135 interest in thirty years for L 97 17s 3d, and has, at the expiration of that time, to return LIOO for the original L 97 17s 3d, New South Wales only pays Ll2O interest for LlO3 8s 1 id. In other words, New South Wales gets at the 'outset L 5 its yd more for every debenture, and pays m interest, during the currency of the loan, L*< less. Judging from the above facts ll WSuld be a hard matter for the bitterest opponent of the Government to find cavil at the floating of

the last loan. ' A general effort is being made among the - merchants and an influential class of people here to carry . oufewhaL is known as the Darling Hanbor Extension to the Circular Quay. The idea was proposed many years ago, .. btit was shirked by a lethargic Governand openly opposed by the indiyiduals who had vested interests in the wharves from the resumption of which they would be rendered absolutely necessary for the purpose. Last session ° the' Government in their scheme obtained permission to extend the railway wharves on the eastern and less im-

. pqrtant . side of Darling Harbor, and have since signified their intentions to resume the Pyrmont Bridge which spans, -the cove Now, however, the merchants recognise the importance of the proposal, and a meeting assembled, on - Friday last declared the construction of the rail round* the fore-shores of the harbor to a ceritral depot at the ’ Circular Quay, and in the very heart of , city, to be the only reasonable' course. this conclusion has been very tardily arrived at (as is usual in this God granted city), there can be no doubt that the 'great trunk lines'of the colony will be rendered no longer remote to

■ the deep shores of Port Jackson, by the.’ - • adoption of the route decided on at yesterday’s meeting. The construction of a direct line through the heart of the city would be an act of vandalism, even were it at all possible, which it is not, : .and an under-ground rail would simply secure connection .with the Circular Quay, and a very small portion of the ■ water frontages of the harbor of Port Jackson. On the other hand, the construction of the line round Darling Harbor would afford complete facility -toat - least- two-thirds of the shipping of the port route, and at the: same time be but a few hundred yards longer - than’'the alternative track. Oh the financial side of the question every- . thing is in favor of Darling Harbor. ~ Property,, ipr which few individuals ex- ? t pect' eight and nine per cent, could be be purchased by the Government (truly - at a premium) with the money borrowed Ji in 'ihejrast loan at something under four ■' percfeht.. Then the contiguity of the lirie'would; almost at once double the value of the wharves with which it will , Be.cbnnected, and practically the trunk ‘ J lihes of the colony would be brought into the heart, of the city for nothing. at the proposal in the light of a city-improvement, it is at once apparent that any such collective effort as ■ that-'which- the scheme conprehends would enhance the value of all pror perty in the oldest and decidedly the worst part of the city. Everyone who ,/has- visited Sydney must have been j struck with the wretched dens that . cumber the western part of the city, fit for palaces, if .commerpe require them for more impdrianran'd profitable purposes. It is not- unreasonable to expect that unrestricted access to the wharf frontages, combined with a reform in our several - systems; should transform the shores of Darling Harbor into the commercial . centre ot the colony. George and Pitt streets can no longer provide room for business people and the crowded populace, and there is no better outlet for increasing trade than in the ’ direc-tion-of Darling Harbor. No fresh development has arisen since I last wrote in connection with the smallpox case on thejpremises of On Chong, Chinese merchant, in George street. The .house is’still kept under rigid watch and ward, no one . .-being suffered, on any pretence, either to enter or leave. Letters written by inmates to their friends outside are carefully fumigated before they, can be - .handled, even by the high and mighty - gloved-official on guard. Dr Foncart, the assistant health officer, is—to put it mildly—a man slightly eccentric at , times, and in his zeal for the discharge of his duty has got inside the walls of the prison, but cannot get out again. It is stated by those who should know : " ’all about- it that the doctor bears his

self-imposed imprisonment cheerfully, and frcquently sends fumigated epistles . .to his sorrowing friends in the city, who s re”lost in wonder at this extraordinary proceeding on his part, in thus rashly venturing into quarantine. The latest news that can be gathered from the “den " is that the Chinese infant first - 'suspected of having the disease is well, and that no one else on '** premises has the slightest ap- ’ peatance of smallpox, or any other ailment, which, looking at y is in itself no small " 'cause of wonder. How much longer V the place will remain in quarantine ’rests " with the authorities. How ■pleasant this must be for Dr Foncart, who is a man found of out door St- pastimes. - ThCf building of the new Roman p|l-€athollc Cathedral is progressing favorfept'afcjy.' The large and satisfactory congCTijTjhntiow of Li,iso towards its erection Received at a. meeting held by Vaughan on last Sunday. ' ‘ restoration.. .fund is increasing mwtrihutinns coming in from all This immediate doubtless to the fact ;

wlvn completed, will be one of the ian-'.-'t and most imposing of our buildings. An accident, which has created unusual excitement in the hands of the Sydney people, happened about ten days ago. Mrs Triton, a lady well known' here in the best circles, was taking an evening stroll, when a hansom came up, being driven at a furious pace, and, before the unfortunate lady could get out of the way, she was knocked down and literally smashed to pieces. Several gentlemen who were passing at the time, seeing that the hansom went on its way as madly as ever, the driver not stopping to see the damage he had done, jumped into other vehiclss and pursued the “ murderer,” but with no success. The hansom driver, having good horseflesh in his cab, dashed first up one street and then down another, until all trace of him was soon ; lost. The matter has been in the hands of the detectives for some days, but up to date they have been unsuccessful in bringing the man to justice, LSO reward is now offered. The love that the Nihilists of Russia have for putting an end to their enemies, by sending missives through the post loaded with dynamitej and other explosive matters, seems to have spread into our quiet colony of New South Wales. The discovery of an “ infernal machine,” on a small scale, in a letter in the Adelong Bost-office, was reported by telegram some weeks ago, and it appears, up to the present, no trace of the guilty person or persons has been discovered. The letter contained a quantity of dynamite, with a dynamite cap and tin cap placed so that, were the letter opened in a hurry, an explosion would |ave taken place, and possibly a murder have been committed. The letter was addressed to a Thos. G. Williams, and this is the only cue to the discovery of the guilty party the police appear to have. The Government have come forward with a reward of LSO for the apprehension of the person guilty of the crime, and offer a free pardon to any accomplice. There are two things concerning this teyrard which are decidly unsatisfactory, and which few will fail to see. For one it should have been offered sooner. In this, as in all mysterious crimes, the sooner a reward is offered the better for the ends of justice. In this qolony the police authorities are too prone to try and discover criminals without any outside assistance, and this is where they make a great mistake. Respecting the Bermagui mystery, had theyat - the outset taken the public into: their confidence some clue, I am sure, would have been obtained ere this, but no j trusting to their own abilities, they exclude the public assistance. No more diabolical crime could have been committed than to use the Post Office to murder an unsuspecting man. The Government have lately been purchasing works of art, at the cost’bf several thousands, to adorn the Colonial Secretary’s office, but can only afford now to offer a paltry reward of LSO. Had they offered a reward of ten times the amount, the L 5,000 would’ have been well and judiciously expended if it brought the -criminal or criminals to justice.

Sydney merchants who have , made their piles, as the saying is, and returned to their fatherland are coming to the fore. Mr William Anderson Ogg, of the well-known firm, Prince, Ogg, and Co., of Sydney, has been appointed as one of of London. This year two Australian merchants thus hold two out of three of the most important of London Civic offices, the Right Hon. William M‘Arthur, being Lord Mayor. The many friends and admirers of the late Mr Butler Cole Aspinall, Q.C., will learn with pleasure that his second son has been called lately to the EngBar. -The young gentleman, with another of the family, has been so fortunate as to secure the patronage of H.R. H. the Duke of Edinburgh, who while in Australia formed a strong attachment for the erratic, brilliant, and ill-fated advocate, the father of the young gentleman. Mr Ollivier who has for the past four years held the position of chief officer, in i sales branch of the Lands'* Department, of New South Wales, resigned his position at the end of last month, and has associated himself with the large firm of land and stock agents, H. H. Brown and Co. ; some say as a junior partner. It is pleasing to note that Mr Ollivier during his connection with the Government service, by his urbane and gentlemanly bearing, won for himself the golden' opinions of jt|ie public, and respect of the officials of his branch. Yesterday he was entertained by the clerks jin the Land Department, and presented with an illuminated address, handsorhely framed. The gentleman is a son of Mr Ollivier, of Christchurch, the Government Auditor.

There was a man named Stapleton, a farmer in the Kiama district, and to him was sent a child, an orphan ; of the State, as a servant apprentice. Intolet-, j able cruelty forced her to fly, a few weeks ago, from his service, and then the following terrible history became known ; although, : perhaps, not yet realised by a great many :—This poor orphan apprentice, only a little child, a girl, had suffered strangely at this man’s hands. He had on several occasions stripped her to the waist, and had beaten her with thongs; he, on one occasion, commanded her to utterly denude herself, that the torture might be more complete, when the beast thrashed her with quince rods; he had thrust her into the fire, causing boiling water to fall over her. Her body when examined bore tokens of scars and innumerable wounds, though barely discerned through the dense accumulation of filth. In the above described plight, the poor child appeared before the sovereign majesty of the law to seek and obtain protection; and, having saved, the law stretched out its hands to punish, but therein miserably failed. The inhuman monster was fined no less a sum than ten pounds, for mcral obliquity of the grossest kind. Justice is' beginning be] a very doubtful thing in the Law Courts of New South Wales, Something is radically wrong when last week a jury brought in a verdict against the Bulletin , damages, one farthing; costs, Li,ooo, for trying to save uncared for girls from destruction, and now mulcts a scoundrel who outrages modesty and humanity,, in the treatment of an

orphan girl entrusted to his charge, in ten pounds. Mr Hoskins, Minister for Lands, is still indisposed, and during his absence Sir Henry Parkes waits at the Lands Office, attending to the Minister’s official duties.

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Permanent link to this item

http://paperspast.natlib.govt.nz/newspapers/AG18810624.2.14

Bibliographic details

OUR SYDNEY LETTER., Ashburton Guardian, Volume 2, Issue 378, 24 June 1881

Word Count
2,346

OUR SYDNEY LETTER. Ashburton Guardian, Volume 2, Issue 378, 24 June 1881

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