Volume 62: Walter Stevenson Davidson papers, 1815-1846: No. 074
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Home/Macarthur family papers, 1789-1936 [First Collection]/Series 06: Emily Macarthur correspondence, 1838-1879, Macarthur-Onslow correspondence 1846-1929, and other correspondence and papers, 1815-1894/Volume 62: Walter Stevenson Davidson papers, 1815-1846/Volume 62: Walter Stevenson Davidson papers, 1815-1846: No. 074
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Transcription
[Page 74]
Wool sales may have the wholesome and natural effect of raising the drooping spirits of the Colonists, as well as of giving a spur to industry & exertion in the laudable course of rendering the Settlements what they were long looked upon to be – I mean very desirable places for persons to go to, who have Capital, & industrious habits to improve it – You have received a great blow: but yet I see no good reason why you should not gradually recover from it – and the more so, as so many of the insolvent members of your Society have been swept away by the late monetary Convulsion. I do not expect much good in the present year – but I shall think there is great mischief in the system, if 1845 do not quite change the appearance of things – A Director of one of the Banks connected with N.S.W. lately told me that his Institution had recently drawn Bills on Sydney & other places for a larger sum, within 3 months than during the preceding 3 years!
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