One of the Government prosecuting parties, under the command of Mr. Nicholson,has discovered a gold-field at Tambo, about 100 miles on the Port Albert side of Kiandra. We are at present without any authentic information of the values of the discovery.
JOURNAL OF COMMERCE AND INDUSTRY
The month of June has been a dreary one for business, a sort of gloom appearing to pervade all operations and completely shutting up speculation. In this complete state of stagnation very little can be said as to prices. In the flour market the imports have been light, and the demand equally so. Adelaide sorts are quoted at £22 and £23. Ales and beer have met with little inquiry. Candles have been in good demand, and prices have somewhat advanced. Butter, which commanded a good price at the beginning of the month, has slightly receded. Bacon, cheese and hams have met with but little request.
In the share market, also, little actual business has been doing. Many of the mining companies have now got their machinery erected, but are unable to proceed for want of funds.
EXCHANGE - The banks now issue drafts on England at 50 days sight at par. Drafts against gold, and purchased at 1 per cent, discount. Freight on gold, per sailing vessels, 2½d. per ounce ; per overland mail steamers, one per cent, deliverable at the Bullion office, Bank of England. To Mauritius, Ceylon, or Indian Ports, ¾ per cent, ; to Hong Kong, ¾ per cent. Insurance, 1½ per cent.;and overland 1¼ per cent. It was decided on the 28th June that the banks of Australasia, New South Wales, and Victoria, with the Union and London Chartered, would, after the 30th June, cease to allow interest on current accounts and deposits at call. At the same time these institutions in conjunction with the National Bank altered the rates of discount. After the arrival of the English May mail, however, they reverted to the practice of allowing interest on deposits at call, and on the monthly minimum balance of current accounts. The rates adopted by the National Bank are as follow: On deposits at call, 3 per cent, per annum; do ; on do. subject to six months notice, 5½ do., do., on do., subject to twelve months notice, 6 d., do. The Bank of Australasia, New South Wales, Victoria, the London Chartered, Union and Bank Of Australasia, have announced that they will allow interest on the monthly minimum balance of current account of not less that 300 at the rate of 3 per cent, per annum. The English, Scottish and Australian Chartered Bank, the Oriental and the Colonial Bank, allow 3 per cent, interest on the daily balance of current accounts. The Oriental also allows 3½ per cent interest on sums repayable on fifteen days notice. The English, Scottish and Australian allows 4 per cent., on deposits at three days call, and the Colonial allows 3 per cent on deposits at cal. Discounts at all the banks under 95 days 8 per cent.
The following vessels have arrived from British and foreign ports during the month: June 9 - Swiftsure, from London ; Dollart, from London ; S. Darling, from London ;Carl, from Copenhagen ; Clarntyne, from Liverpool ; Chiasarah, from Kurrachee. 13 - Ottawa (s.), from Suez. 18 - Neptune, from Liverpool ;Lew Chew, from London ; Hound, from New York . 19 -Wingfield Scott, from London. 20= Exact, from Oporto. 21 - Phoenix, from Gottenberg ; Lyra, from London ; Hope, from Liverpool ;Persian, from Liverpool ; Lafayette, from Liverpool. 23 - Malvina Vidal, from London ; Chrysolite, from Greenock. 25 -Lucknow, from Boston. 26 -Heron, from Oporto.
The following are departures for the same period: June 4 - Oxus, for Guam. 8 - Melbounre, for London. 9 - Empire of Peace, for Callao. 14 - Beatrice, for Hong Kong. 15 - Lady Milton, for Callao. 16 - Baccphalus, for Valparaiso ; Dorothea, for Guam ; A.R> Thompson, for Guam ; Grecian Queen, for Mauritius ; Blue Jacket, for Liverpool. 17 - Hermia, for Guam ; Princes Royal, for Callao; John Duncan, for Callao. 18 - Malta (s.), for Suez ; john Bunyan, for Callao. 19 - Meteor, for Guam. 20 - Emigrant, for Callao ; H.B. Mildmay, for Guam. 21 - Vocalist, for Callao. 23 - Admiral Lyons, for Callao. 24 - Dover Castle, London.
The following vessels have sailed with gold freight during the month: June 8 - Maidstone, for London, 48,783 ozs. 14 - Beatrice, for Hong Kong, 6,452 ozs. 16 - Blue Jacket, for Liverpool, 34 374 ozs. 18 - Malta, (s.), for Suez, 22,760 ozs. 24 - Dover Castle, for London, 57035 ozs.
THE NEW ZEALAND WAR
We have not received any intelligence of further hostilities having taken place between the natives and the British troops. The former, however are strengthening themselves for the approaching contest by the erection of pahs, and other fortifications, and have been joined by other tribes who had been looked upon as friendly. There can be little doubt but that it will end in a very protracted warfare, and that the British rule in New Zealand will have to be maintained by a large increase of forces and expense. There are now some 3000 troops collected at the scene of the disturbance, lest they remain in a perfectly inoperative state, and the general belief appears to be, that they will not attempt offensive measures until they are re-enforced by troops from India or Europe. It is impossible to say how much bloodshed and expense might have been saved if the outbreak had been taken in time.
Great dissatisfaction is expressed in New Zealand at the inexplicable forbearance of the commander of the forces there, amounting almost to puerility. The natives show the greatest fearlessness even in the vicinity of the British troops, and pursue their daily avocations, such as fishing and collecting produce from the ground, with an impunity which is most mortifying to the settlers. The following interesting particulars are from the New Zealand of the 6th June : -
"Auckland, June, 1860.
"As intimated in my notes of the 28th ult, as likely to be the case, the European visitors struck their tents and took their departure from Ngaruawahia, on Tuesday about noon. The carpenters' party who were engaged in the preparation of the new flagstaff - (that first erected is fast going to decay)were working as if 'paid by the piece' all Monday afternoon, and from break of day on Tuesday : no: 'government stroke' was visible among any of the gang, and soon after breakfast a long and deep hole was sunk, into which the mainmast would be lowered in readiness for its being blocked and laid it up. The only thing that at all distracted the attention of either working party was a grand squabble between two up country lots of natives as to the ownership of a canoe some 30 or 35 feet long, and of rather more than the average beam. One set of claimants applied poles as levers to stir the canoe (which was hauled up on the flat of the western shore of the Waipar, and their partisans tuggel away most vigorously to set, the boat in motion towards the river. The other set of claimants seated themselves on the sides of the canoe, and dug their heels into the sandy soil, determined that the vessel should not be moved from its then resting place. Both factions raised a shout for aid from their respective friends : and incontinently the partisans of these Montagues' and Capulets rushed down the banks, and ranged themselves on their different sides, while some three or four hundred spectators all sympathising more or less with one party or the other, gave the help of their tongues to swell the din, which outrivalled that of 'Bartlemy Fair', ere the new police system came to the assistance of modern civilization, and by degrees suppressed the nuisance. For nearly an hour, matters looked serious, ominous of blows. Eventually the dispute - which was of old date, even prior to the hewing out of the bark, was left for the adjudication of certain native assessors, and in bringing the affair to this more satisfactory settlement the principal agents were William Barton, the native preacher at Karakariki, who was listened to with great respect by both sides, though known not to be a favourer of the king movement, and a daughter of Te Whero Whero, who, with decided spirit, demanded of the belligerents if that was the way in which they manifested their obedience to the order os their 'king' for the maintenance of peace.
"As the preparations for the departures of the Europeans progressed, the greater became the anxiety of the Rangiawhia and Upper Waikato natives that the white men should not follow the example of William Thompson and his men, who pronounced the erection of a second flagstaff 'all bosh', and had, therefore, started for their settlement that morning. But the tents were struck, and the process of packing up too far advanced to be counterhanded, whatever inducements to that effect might be offered.
"here, again I must Hark back to the talking of both on the Saturday and Monday, to say that the speeches were mostly of a very confused and mystical character, but that gradually even those of the most decided 'Kingites' became very greatly 'toned down' as regarded the Taranaki business. Te Hen Hen, of Taupe (whose keen bright eye presented a singular contrast to his battered old bill-cock and dirty blanket), commenced with a reference to the formula of Christian baptism ; thence progressed to the notion that William Thompson and Mr. McLean, should go and talk with the Governor about the settlement of the Taranaki business, finishing off with a protest against the overland Aburiri and Taranaki mail being taken past his land ; (this, in fact, was the main burden of his many short and sharp speeches). - Rabi said that Te Hen Hen was talking beside the question, which was not about the overland mail, but the sale of land to the Lakelia. He(Rabi) said, let each tribe and each man be allowed to dispose of its or his own land as it or he pleased. Hemi Mareteni a son-in-law of William Naylor, boldly advocated, though not without some interruption, the disposal of surplus native lands to the Europeans. Patetre, speaking as if he were Wiremu Kingi, said he would not give up the Waitara block, as that would be to part with his mana ( or "manorial authority" over the land. Th this, Tomati Ngapori, speakng as if he were Potatau (Te Whero Whero) replied that the land in dispute had been given up to him after it had been fought upon ; that the sovereignty of it had bee give to him (Potatau) ; and that he should give it up Pateue : Why, Tomati Ngapori: That fighting may cease, A friendly chief (of Whatawhata) ; Leave my land to me : if I go to your land strike me ; but don't you interfere with my land. (The Queen's flag is hoisted at Whatawhata every Sunday). Some further speaking and discussion ensued, more particularly respecting the Taranaki murders, which William Thompson, Tumuhuia, and one or two others would not admit to be murders, but only "accidents" of warfare. Hoper assented to Ngapori's more prudential counsels : let us go to inquire, but let us determine not to go to Taranaki to fight;let us give the Pakeha his ; let us keep our own. Again some discussion ensued in regarding as simply the retribution of warfare ; to which mr. Buddly rejoined, that only forsaking the word of God, could thus murders be so regarded. In the general conversation which followed,