West Coast Times. TUESDAY SEPTEMBER 4, 1866.

West Coast Times, Issue 296, 4 September 1866, Page 2

West Coast Times. TUESDAY SEPTEMBER 4, 1866.

The effects of the monetary crisis in England are beginning unraistakeably to be felt in the colonies, and our latest commercial advices from Melbourne tell of embarrassment and check to trading operations, occasioned by the unusual stringency exercised by the Banks. The immediate causes of this stringency are not altogether, perhaps, connected with any want 6f confidence in the healthiness of trade. The high price of money m Europe at this moment— the Bank of England — maintaining its rate of discount at a minimum of 10 per cent, offei-s greater inducement to investment in that direction than even the colonies, where such high rates of interest have always prevailed. It is a noticeable fact that large shipments of sovereigns have recently been made from the colonies to the mother country; and the withdrawnl of^thesc from local cin-ula-Ji'«u for investment on more profitable terms elsewhere, must necegv"iv l^ail to the curtailment of that kfc" ■■ ' « > <sn:'iioUritioi i^:r!ioT!twhinh I

extensive trading transactions cannot well be carried on. The Melbourne "Argus," in a recent article points out that many of the greater failures which have taken place in England liave resuited from the suddert Withholding, under the inAuence of panic, of the accommodation by the banks which is essential to the maintenance of a great system of credit, and upon the assumed continuance of which commercial enterprises on a large scale Arc undertaken. "The cur&tt9 panic in the English money market (remarks that journal) which has so largely occupied our columns of home news during the last two months, certainly does not tend to inspire great respect for the 'mercantile mind.' Vast rommerciai concerns have beeil permitted to collapse for no good reason, and Under the influence of sheer fright, although entailing in their collapse notmerely business disaster, but widely extended domestic ruin. Banks and companies possessing assets enormously iv excess of their liabilities, havfe "een compelled to put up their shutters — or at all events have done so — while there has been nothing iv the state of their affairs to render this necessary. Fright, mere fright, among both creditors and proprietary, has brought about this result, and this has aggravated the runs and the 'smashes' in England that have been so ruinous there, anJ of which we, of course, have not yet quite seen the last."

It is not impossible that the sam 6 effects which may in England be traced to a financial paiiic, may be produced in the colonies by circumstances of a totally different character, such as the one we have referred to, limiting tile power of the banks to A iftcduut, the bills of their ordinary customers. It is un • uecc&Aftry to point out how essentially credit is an adjunct of capital in the conduct of trade, and how the Withdrawal of one nmsl prove as disastrous «9 that of the other to business operations on a large scale. To quote again from our Melbourne contemporary: — "There can be no doubt that dozens upon dozens of large firms in this colony could be brought to suspension by a sudden withdrawal of the banking facilities that th^y have been accustomed to look to as a matter of course $ And it is to be feared that the banks here at present are just acting under the inAiience of communicated English Mght, and are ' drawing iilg in their horns' with a suddennesß that may injure themselves, And with what is, even aindng bankers, a culpable indifference to the welfare '6? other people. The banks, it is understood, are now curtailing their accommodation to their customers. The community can at aii.y time occasion a run upon it banH, and, oh the Gthe<T Mtfd, m<ri7anks can collectively create a sort of run upon the community, by suddenly withholding accustomed accommodation. It is to be hoped that they will see the wisdom of abstaining, from this course at present. The immense number of altoge=ther solvent ' insolvent estates** of which we have particulars from kttgland, show that die recent— -we trust no longer the existing—panic there-, has been greatly consequent upon mere false alarms and causeless ajJpreheftsio'Ds. There is certainly no need that we should imitate England in this step in her career. Of course, we must expect some slight reflex of the financial disturbance ; but if common prudence be exercised, and common forbearance be shown, it ought to be only slight." The circumstances which have elicited these remarks from the " Argus J> are likely to prove of some practical importance to the traders -of this coast-, and materially to affect the large trade that has hitherto sprung up between Hokitika and the Australian colonies. It will be greatly to the disadvantage of the district— but still more to the loss of the Melbourne and Sydney exporters —if the trade of Westland is diverted from the present channel* and the market of these goldfields closes against them. The coming summer may be expected to be a season of great commercial activity. And it is unfortunate that any restrictive policy should operate to cripple it. Trade with Melbourne can only be done on terms that imply some liberality on the part of the Banks, and if the system which has hitherto prevailed is^to any serious extent modi fied, the consequence can ouly be that the West Coast markets will have to depend — as they had in the earlier days— upon provincial sources of suppiy-

At the Resident Magistrate's Court, last week, 1 prisoner was committed for trial at the Supremo Court, 5 were sentenced to the hard labor gaug, and 1 imprisoned only; 3 debtors were also condemned to different -periods of confinement. The usual monthly meeting of the Fire Brigade was hold la&t night, at the Brigade Hall, Eevell street. We withhold the report until to-morrow. We hear that the population of the Totara district is daily increasing, and that nearly al] the new arrivals are from Okarita. Sergeant Clements, officer in charge of the Long Beach, Okarita, in hie fortnightly report, states that the population thero may be estimated at 1400, inclusive of business folks. The miners generally are making wages, and a few are doing something more. Some new grouud was opened on the beach last week from which fair prospects were obtained, but sufficient time has not elapsed to allow of its being tested thoroughly \ should it turn out well tho place will look iji again.' There are about nine hotels and , thirty stores on the Beach.

We are informed by Sergeant M'Myn, that duriug tho week ending Saturday, September Jst v 5 prisoners were added to t^e hard labor

gang at tho old gaol, 3 discharged from custody, and 1 man, admitted as a lunatic, was released as ciirod. There were remaining in the gadl at the dbdve date, 13 males and 2 females sentenced to hard labor, 3 males to imprisonment only, and 5 males on remand ; total, 21 males and 2 females. , Mr Yogel gave notice in . the House of Representatives tfta* on Wednesday, tho 39tlV Oltimo', he Would move that the House 'go into committee to consider the following resolutions : — " 1. That provision be made securing to the provinces, for appropriation by the Provincial Councils, three-eighths of the Customs revenue. 2. That the interest and sinking fund on tlie loan's ttontra'eted by tho 'provinces lie nVide a first charge upon \hA three-eighths. 3. That the unexpended votes of tho last financial year be made to revert to tho surplus reveuue. 4. That the provinces bo credited with the amount taken from revenue for the unauthorised General Government expenditure charged against the revenue of last yetli\" A comnlunic'atid'n fi'onl ETeiSoii spates : — lX The further facts that have arisen in connection with the four murderers are as follow : Sullivan's wife is coming to New Zealand j she wrote saying, ' If all else desert you, yet I shall not.' Burgess has stated that he and Sullivan lay in ambush between Cobden and the North Beach to stick up James Wilkie, a storekeeper at Cobden, whe tw«ee escaped them by going a different road-. w

The " Otago Gaily f itrida v> df the 2^th lilt; 'states ":— tx The inqitest dri the body df Thomas tangham was held yesterdAyj by Mr 1\ M. Hdckeri, cordAerfc a^A the findhig of the jury amounted to a verdict of 'justifiable homicide.' The foreman (Mr R. B. Martin) stated tliat the jury wished to add, as A rider, that they were highly gratined at the perseverence and bravery shown by the police in the discharge of their duty. This includes the warders of tho gnol : for all those officers are members of the police force. Ce»'«taMo J^xtev gave evident Al tne inquest ; he is going on excel- " lently well. Warder Birt is also doing well ; but the Provincial Surgeon thought it a risk which ought not to be run, to allow him to attend and give evidence. A similar report of ' doing well,' so far as his wound is concerned, applies to the criminal Robson, who remain*) nfc the Hospital-." Ctibb'S doAcK arrived in town from ChrisfctiWrch dri Saturday night 1 , at tne usual iioin', bringing a"8 p"asserigei4 Meters ribzp'atrick', Hind 1 , Parker^ Bishop', and three picked up ttri the way. ' committee of tlio Canterbury ClUrab' er i 'of Commerce, in tue& MmAal report presented ias\, week, say :—": — " The committee, wishing to obtain full information of the progress of the works on the West Coast road, availed themselves of the service* of two ef their members whe volunteered to proceed overland t9 Hokitika by way of tlie dtita goi'ge. T"hese gentlemen irep'orted nvnh'ub'ly that the wpi^a welt} being pushed forward Vigorously, and for some months past a good coaclr~roaTl "Has" TieelT opened," connecting Christchurch and Hokitika, along which conveyances travel with safety and regularity, carrying the mails twice a week* This road has already been of great benefit tbtoie sfcoekownefc* on the plains, the quantity bf slW^k driven overlahd having relieved this market aiiA Arrested the downward tendency in pnee^ , whilst tne mining population hftVe derived great benefit from receiving regfliar supplies d¥ 4<tad lileat at much lower prices than when they were dependent on their supplied arriving by sea." / The Christchurch " Press" has the following on the composition of the new Ministry '. '— " We suppose that we must accept this as what ia called a strong Ministry. Is it ft Satisfactory one? tt is impdssible ridfc td remark at the first glance that the wildly 'of tke Mid- , die Island) with All its eri'ticai interests, is represented by dne single member— Mr Hall. Mr Stafford, it is trtte, is the'membfer fot ftelsdri ; but his sympathies have fdr years been wiVh .tLe ftorth. Majdr Richardson might have befen cited as a Middle Island member, had he not deserted a Southern for a Northern coiihtifcuerioy, aild ndw Jollied the Ministry as an amateur, wi'th"6\il oflice, and with correspondingly little influence. The i result of recent intrigues has been to leave the interests of the Middle Island very scantily provided for."

Between seven and eight o'clock last evening the town was aroused by the cry of "Fire !" which was taken up by a hundred voices, and accompanied by a violent ringing of bells. Such unwonted sounds caused immense excitement, and an indiscriminate rush to North Revoll street, the locality from which they proceeded, and in an incredibly short space of time over a thousand persons had collected in front of the Tyrone Hotel, from the roof of which building a large volume of smoke, illuminated by flickering tongues of flame, ascended. Impelled, doubtless, by the most philanthropic; motives, the crowd made a dash at the building, and would in all probability have not only extinguished the fire but the edifice as well, had not tho police (who wore promptly on the spot) kept it back, whilst a, few energetic individuals ■ within burst through a skylight, reached the roof, and by tho well directed application of a fow buckets of water, extinguished the fire. In the meantime the Fire Brigade turned out, and with the hook-and-ladder apparatus arrived at the scene in less than ten minutes after the first alarm was given. Every man was in uniform, and ready for work, and with an alacrity that did them infinite credit the Brigade placed the ladders in position, and in an instant the roof was crossed by the "red-shirts," bucket in hand. Fortunately, their services were not required ; but from the ability they displayed last night, we feel confident that when the evil day does arrive, the Hokitika Fire Brigade will not be found wanting. Hokitika has once more narrowly escaped a very seriofcs conflagration, and this time the danger was really imminent, as the roof of the Hotel was in a smouldering flame, which a minute or two later might havo burst forth into a furious blaze, that would not have been so easily got under. Tho fire was oausod hy the undue heating of tho ba.r parlor store 'pipe, \rhieh led uu through i

tho roof, aild so close to tile rafters' as to almost toucll tliem. ft was nearly red llot, and on entering the room the heat from the stove was absolutely overpowering. As a natural consequence tho roof ignited, and but for tlie prompt action taken by the inmates wl|eA the dl^rtti wail first; given a feonfciderdble block df buildings might now be in ashes. Used in wooden buildings stoves are exceedingly dangerous, and require to be constantly watched and tended to prevent accidents ; for if they are fired up too strongly the piping quickly becomes red hot, and then the roof and different partition* through which it ! may happen to lead are, unless well protected by sheet iron, liable to catch fire in any moment. Too much praise can not bo awarded to the police for their prompt interference, which, by preventing confusion, very materially contributed towards suppressing the danger. Nor is less praise deserved by the Brigade for the promptness and energy displayed £y Mujlti ... (jil Thursday last Mr Schaw, the Kanieri warden, granted a prospecting claim to a party of miners who had opened new payable ground about ten miles from the Kanieri township, up the river, The prospect was obtained out of a terrace, and amounted to 3 grs .to the dish, with from five to six feet of wash-dirt. The adjoining country io pronounced &a "likely looking. 11 A considerable rush set in to it from the Kanieri and Hau Hau diggings. Tile dfticei- iii cliarge At the Tdlird reports that, dtirirtg the lasb fortnight, no new ground was opened in tliat district. The (T^ipleiion of several large water races has conferred an immense benefit up'oil tlie miners, who are enabled to oCcupy and work with much profit to themselves a great deal of terrace ground, which but the other day wai abandoned as worthless. On the, Cemetery terrace some excellent sluicing clalnis are in work, From one 6i which & odticeS oi gold were obtained last week. Throughout the district there is very general prosperity amongst the miners, and the greatest confidence is expressed by all in its permanence ; and so strong is this feeling that many have settled down with their wives and families, fully impressed that the district will last for" .yeaPs-. illd p^iikfcton is estimated at fddOj arid rid cfiirie was reported at the Mice tlamp during tlie fortnight: • Mr Wagner; of the ShAmrldnk Hotel, having completed tue very extensive alterations and additions to his house, intends giving a select ball this evening, in qele&ratfoii of the event', for which, a h>j#e numbVr of invitations iWe been ii&ued. We wgret that by accident the Shamrock Hotel was omitted in our Summary notice yesterday of improvements in Hokitika, It should certainly have held, not only a place, but » very high place) in the list, No doubt it Will present a Very gay Scend to-night. ', M . Mi§£ Julia Blatnewß sing very beaMiniily the solo parts in Mozart's grand Twelfth Mass, at the Catholic Church, on Sunday morning last. Her magnificent voice and delicacy of - expression in saorod music, were displayed on this occasion to the highest advantage) and produced a powerful effect on the very crowded cdrigre^atidri assembled.

the « 'dtagd My Times'' of the 2"4tn ult., says i— -" The fine steanier Bruce is now undergoing an extensive overhaul pn Messrs M'KihnpA/and, Miirr'&'s sfip''. S&e \t to have the \Vnole oi her bottom re-rivetted, eight new frames, and several strengthening pieces put in ; the whole of her deck work overhauled, and passenger accommodation remodelled, so that when all is completed, she will bo in tiptop trim for again proceeding to her trade en tile West Cdash

A return of the cost of" Provincial Ghovern"" ments thrOughbtit tke cdiotiyj recently laid beiWre M.*e Hbiises 6? Assembly, gives the following results : — Auckland, 153 officials', 'employed U a cost of fis2,<s2 14s 9*d } Taranaki, 22* 6fncuu>, %6*tMs7i; Hawko v ß,Bay, 65 officials^ cost Ii 5.11 0; Wellington, 76 officials", cost Jj15,017 9s ; Nelson, 45 officials, cost L8301 115s; Marlborough; 9 officials^ post L 207 0; Canterbury, 74 officials, cost 1*21,338 ; Otago, 123 official*-, crAfc L5d,535 }. Southland, %l officials, cost L 6460. The yearly cost of 554 officials under the Provincial Governments is L 124.709 18s 9d.

The "Grey River Argus," of Saturday, says: — "The fishing season has now fairly commenced, and some good hauls have withiu the last few days been obtained in the river and lagoon. Whitebait is unusually plentiful and can .be caught in bushels off the quay at the proper time of tide. Some fine " patiki ir or flat fish have been captured in the river, some of them of considerable size. Mullet have been seen, and a stray herring or two have heralded the arrival of this excellent fish in our waters. There has been some capital sport for the gun— pigeons and kakas being very plentiful. Wild fowl, however, appear to have been scarce, but very few have been seen in tho places that used formerly to be frequented by widgeon and teal. The delightful weather that has now set in makes a shooting excursion in the bush most enjoyable, and as the birds are both plentiful and in capital condition there should be no hick of sportsmen.

The following are the District Gaol returns for the week ending Saturday, September 1, as supplied to us by the gaoler, Mr Dale :—: — Admitted, on committal for the Supreme Court Sittings, 1 male ; under sentence of imprisonment, 1 male ; debtors, 3 males. Total, 5 males. The number and classification of the confinees on the above date areas under: — Committals for trial, 3 males; hard labor gang, 27 males ; imprisonment only, 2 males ; debtors, 10. Total, 42 males.

The " Westland Observer" of Saturday, in its notice on mining in that district, remarks : " Two new pieces; of ground at the Five-mile Beach are now being actively wrought by parties who, by the prospects they have obtained, are encouraged to undertake a much jreater amouut of labor and expense thau lave usually been incurred. On the new lead ,t the south end of the beach, some paries have amalgamated so as to overcome the leavy stripping and tho work of slabbing heir paddocks with greater ease, and in seveal instances it is expected, that they will Je able to bottom this week. The stripping $s not less than from twentyifre to thirty feet, and, as the watoy comes upon them.

when about twenty-two feet .down, it is liecessary to slab the remaining few feet, and to do so most thoroughly, the pressure of the water being very great. In one, of the first of the claims opened) the working was interrupted by the strong slabbing giving way under the* extreme presiure to which it was subjected. The other new claims are at the north end of the beach, and partially below high water mark. The same grour*i had been tested by several parties, and from eighty to ninety ounces were in some instances obtained in smalj paddock'^ of no great depth } b'tlfc the" proximity of the claims to the sea prevented them from being otherwise than imperfectly wrought. The new claimholdera hare, however, erected substantial breakwaters, by driving into the sand rows of heavy logs, which they have interlaced with branches the whole being constructed so thoroughly as to resist the force of the surf, and effectually to prevent ariy damage to tlie claims, llie construction of these is a considerable item in the cost of working the claim, but the ground it believed to be sufficiently good to ustify its being undertaken, and there is no doubt that there are many parts on the same beach 1 and on others whore the same plan will yet be adopted." I