Colonial News. MELBOURNE.

Nelson Examiner and New Zealand Chronicle, Volume XVI, Issue 7, 22 April 1857, Page 3

Colonial News. MELBOURNE.

[From the Wellington Independent, April S.] In consequence of the running of a regular line of packets between Melbourne and Wellington, Victorian Intelligence will possess more interest to us than it has done of late. | The Marchioness is, we are happy to say, purchasing potatoes, the last year's crop being exhausted and the new one's being very backward ; they arc quoted at £7 to .£8 per ton. The regularity of the sailing of the packets, and the well-known fast character which both the Marchioness and Ariel have acquired, will probably induce some portion of the trade between Sydney and Wellington to be diverted into the Melbourne Channel ; with this view we publish the latest. MARKET REPORT. There is an unprecedented dulness of trade at present existing in Melbourne. The chief caines of stagnation are a w ant of confidence on the part of holders, and a feeling on the part of the chief purchasing houses, that prices will still further decline when the writer season sets in. It is to be borne in mind, however, with reference to the prospects of the country trade in winter, that the main roads to Cnstlemaine and Sandhurst are now completed throughout, and that the road to Ballaarat is much improved. In some respects winter, is more favourable for cartage than summer. The feed for cattle for instance is more abundant. "We nre therefore of opinion that a considerable trade with the principal gold fields will be transacted throughout the winter ; that in fact the interior trade will henceforth be earned on more equally throughout the year. With reference to financial and commercial alfairsin Melbourne, it roust not bo understood that there is any serious crisis impending. Many failures have taken place, and more will occur, but the vast body of mercantile houses are safe and firm, and we can affirm that the banks will endeavour to support every house and every man whose affairs have been honourably conducted. It is a fact which ought to be noted, that the failurea on the diggings have occurred among dealers in dry goods. The dealers in provisions and liquors have been comparatively stable. One great cause of the present state of matters on the gold fields is, that two many have entered the trade. They have ruined each other by excessive competition ; and the misfortune h, that the man of capital has frequently lost his all, while the man of straw is no worse than ho was when he commenced. The following is the New Ministry :—: — Mr. O'Shanassy, Chief-Secretary' Mr. Foster, Treasurer. * j Mr. Home, Surveyor-General. Mr. Duffy, Chief Commissioner of Public Works'. I Mr. Greeves, Chief Commissioner of Trade j and Customs. Mr. Chapman, Attorney-General. Mr. Wood, Solictor-General. The Treasurer is the well-known J. V. L. Foster, the same who politically misappropriated 56800,000 of the public money, or was charged, and by the opposition led by Mr. John O'Shanassy, declared guilty of that act. If (says a contemporary) John Foster was not guilty, he was treated as though he was so, he was hurled from power, and deprived of reward due to lengthened public services, through the instrumentality of John O'Shanassy, and the party that John O'Shanassy led. Is the appointment of John V. F. L. Foster, as Treasurer, the result of the stings of conscience — is it an "amende honourable" offered to a political victim, sacrificed to faction? Or is John Foster the "forlorn hope " of the new administration, necessary to be got, no matter at what cost of principle. The Attorney- Generalship was offered to Mr. Michie and Dr. Evans, both of whom, fearing the temporary character of the ministry, thought it better to "bide their time." The same paper from which we have before quoted, says of our old judge: "The only objection that we have ever heard urged against Mr. Chapman is, tha the is too antiquated, pedantic, and prosaic, and that he requires a whole session to expound a principle, which, when expounded, is found to be an universally admitted one. However, as he appears to be the only Attorney-General procurable, and as he is a gentleman of long experience, who has filled high offices of state, he will be doubtlessly invaluable, though rather unpopular."