ninetieth year, having had a public connection with the colonies for a period of nearly seventy years. Victoria. The year 1891 has been marked by a serious and long-continued financial depression, caused chiefly by excessive land speculations, and coming as the reaction from a past cond.tion of inflation. Several of the smaller banks succumbed to the pressure on their resources, brought about by the fallen valter of the property in which their capital had been invested, and the difficulty of realising the land estates which had been purchase. during the incidence of the "land loan" of 1890. Many ch building societies also had to close their doors. Widespread los and injury have been caused throughout the colony i failures, which in some cases were found to be attende fraud and dishonest dealing on the part of their managers. The year has been tolerably free from political exe there having been no serious attempt to disturb the rele Munro Ministry, which, if it has lost any portion confidence, has had no more formidable difficulties than those which arise from its own rash and e policy-a policy of concession to the prevalling sentiment which, before the end of the year, hat : ably modified. Mr. Munro, the Premier, made an importa constituents at Geelong, on April 16, in whic. I surprise, he dealt chiefly with the question showing more zeal in the cause, and more ultimate success, than he had been crediter Victorian tariff he regarded as the best wine! ! could adopt. The ruling fiscal principie declared, would be Free Trade internaliz nally. He objected to the name of Commer retaining the right of a final appeal to the 7a point in which there had been som among the members of the Federal Co The Parliament was opened on Ju the measures announced in the Gover programme of Ministerial policy wa abolition of plural voting and for ... to females. That neither of the by public opinion, or requested in existence, was proved by firs: dropped before the session wa- • Man One Vote" very nearly in embodying this principle wa but met with considerable on: jority of the members of amending the Bill by givi The leader of the Minist would dissolve Parliame 7 were not carried. The Ministerial representative in the Council, however, took an opportunity, while the Bill was before the House, of declaring that the question was an open one in the Cabinet, and that he and certain of his colleagues would resign if the clause containing the One Man One Vote provision was carried. For a few days it seemed as if that familiar incident of Victorian politics, a Ministerial crisis, were imminent. After a Cabinet Council it was known that Sir Frederick Sargood, the Minister of Defence and Education, Mr. J. Davies, Minister of Justice, and Messrs. Fraser and Ham, representatives of the Government without portfolio, all members of the Legislature, had resigned their offices. A few days afterwards, however, on November 11, Mr. Munro, the Premier, announced that these resignations had been withdrawn. By what mutual concessions the breach in the cabinet had been repaired and a crisis or an appeal to the country averted, the public were not informed. There is reason to suppose that the Government has been persuaded that there is no great feeling, even among their own supporters, in favour of the proposed drastic change in the electoral system. There is a growing opinion, not only among the propertied classes, but all who have any stake in the colony, especially in the agricultural districts, that the One Man One Vote principle should be modified to the extent of giving a second vote to everyone paying rates. In the meanwhile, the Bill, on which the Government began by staking its existence, has been quietly dropped for the session. It has been discovered that there was no demand for it on the part of any considerable section of the public. The Government had never been pledged to bring it forward, and it must have been aware that it could serve no political purpose, except to increase the influence of the Trades Union Council and to multiply the number of the so-called Labour members. The Federation Bill has been under discussion in the Victorian Assembly, though the interest in the subject has perceptibly waned, chiefly because of the political and fiscal changes in New South Wales, which seem to indicate a recrudescence of the old feelings of intercolonial jealousy. The name of the proposed Federal Government was altered by the Assembly from "Commonwealth" to "Federation." With the retirement of Sir Henry Parkes from the leadership of New South Wales and the advent of a new Ministry in that colony, pledged to prefer local to general interests, it may be assumed that for the present the Federal scheme has been shelved. The policy of the new Government in Sydney being to encourage local industries at the expense of its neighbours-to exclude not only the manufactures of the mother country, but the products of the other colonies from the Sydney market-there is no present likelihood of the colonies agreeing to any project of union, the first condition of which, it is generally allowed, must be Free Trade within the Federation. The legislation of the year in Victoria has eer nificance. Foiled in the only tw measures whi be subversive of political society and of existar One Man One Vote BIT. and the scheme for the franchise, the Munro Government, takme equanimity, has confined its activity t suppression of opium-growing, and under the better control of Parliamen:: public railways. The Treasurer made his financia nouncing a deficit of 309.0001. Fin the state of financial affairs in Londr loan, the Government proposed a schemes Bonds to the extent of 6,000,000.. issued at once. As these will ben cent.. it is only borrowing mo terms which must necessarily Government stock. Tre genera: tone of pub of panca: action, the rest co I place on itse face suffering. Is tation froz -possile COREteclare a Le moulats. sen m Apri +1.91 females The population nereased from Tariva-born A Tutoria having reme Queens labour tru party in 1 of thos ment. taining court powers which reside in the Executive. Parliament was opened on June 30 by Sir Henry Norman in a speech in which prominence was given to the subject of Federation. Speaking, it may be presumed, in the name of his Ministry, he declared that he was convinced that the Federal scheme would be adopted with such amendments as might be necessary to give expression to the local Australian patriotism and the material interests of the Continent at large. The proposal submitted last year to Parliament for the division of Queensland into three separate provinces would again be laid before the Legislature, subsequent events having proved such a change to be desirable. He deplored the recent attempt by an organised body of law-breakers to disturb the public peace and to injure one of the most important and productive of the colonial industries. But his Government had recognised that their first duty was to maintain order and to secure the freedom of citizens in their lawful convictions, and therefore had called out the military to support the police. He congratulated the colony on the termination of the difficulty, and upon the conduct of the officers and men who had been engaged in vindicating the law and in maintaining the public peace. Referring to financial matters, Sir Henry Norman declared that, owing to the want of confidence caused by the recent disturbances, the finances of the colony had been injuriously affected. The expenditure rendered necessary by the labour troubles had caused a serious deficit in the public accounts, while the ill-success of the recent application for a loan in the London market had shown the desirability of discontinuing the large public expenditure on public works. If in the result the Australian communities were taught to rely more on their internal resources and less on the foreign capitalist, he believed their experience would tend to the permanent public advantage. The Naval Defence Bill was one of the earliest measures brought before Parliament. Sir Samuel Griffith, the Premier, in moving the second reading, urged that the question was not one of money but of honour and policy, the colony being bound to carry out the promises made by its representatives. The Bill was carried by a majority of forty-two to twelve, and has since become law; the scheme of Australian Naval Defence, from which Queensland only had stood out, being thus completed. The Colonial Treasurer, Sir Thomas McIlwraith, delivered his Budget speech on August 8. He estimated the gross revenue of the year at 3,675,2001., and the total expenditure at 3,647,6931. The accumulated deficit would be met, not by a new loan, but by the issue of Treasury Bills, to be met by the sale of county lands in large areas. The amount of borrowed money to be spent in public works during the year would be reduced by more than one-third. In the course of his speech, the Treasurer complained of the manner in which the Bank of Eng De Queensland Governuer The matter an the matter of Fedeg dua Parliament of New Loui zustralia. - The Fatuan ata Hon. Thomas Playlor,i ancial statement on agai ter ending June 30 let 555. Lad been used to sub amozni borrowed, amo×41 Tover working expensi ded in public work, provided out of the ph ing over 54 per cent, or crainage works were payatı, clared that there had bará ports and exports, t 11.500.000, while for 12 Western Australia. Wi .sus re |