Punch and McCulloch

Melbourne Punch (Vic. : 1855 – 1900), Thursday 4 June 1857, page 7
A LETTER.
Mr. PUNCH trusts he is not guilty of a breach of confidence in publishing the following copy of a letter which has accidentally fallen into his hands -” Per SIMLA. ” Melbourne, May 27th, 1857.
Gentlemen,—The Simla being about to sail, and it appearing probable advices per that vessel may anticipate ditto forwarded per Great Britain, have honour to recapitulate substance of information tUen forwarded. Likewise enclose dfts. on London and Liverpool, as per mem. herewith. Exchange on England, as at last writing, 2 p. c, pm. Have purchased dfts. against gold at 1 and g, but ruling price 1. Government has advertised for tenders for £l 87,000 debentures, but regret to say that other arrangements, as hereafter described, precluded tendering on this occasion on joint account. £20,000 treasury bills have gone off at If pm. Share market very active, money being cheap, first-class securities commanding loans at 7 p. c. Horse corn rules uncommonly high, and would recommend shipments of good Scotch oats. Brans, weight for weight, nve above wheats, and likely to rate high for some time. Opiums have been lively, owing to proposed impost of 10s. per lb. Regret that our stock was light,- and that circumstances precluded speculative purchases. Rejoice to learn per your esteemed favours wools have gone up. Memorandum enclosed of other parcels both of clean and greasy, which hope have duly arrived, some on own account
and others advanced on. You will hare learned per previous advices under dates as per margin, undertook to form a ministry, and carried out undertaking creditably to house of Dennistoun Brothers and Co. Some inferior samples crept in, but average quality good. Self declined Premiership, and took Commissionership of Trade and Customs, as more consonant with ordinary line of business. Present government strong ; and Mr. Foster not holdingtreasurynow, beg to rescindformer advice not to touch Victorian Govt, paper. Govt, paper now good to any reasonable amount, and should altered circumstances transpire, will take care to inform you in time, whereof shall have best opportunities. Forgot to mention in place, so here state double rose Cork butter a drug. Parliament met yesterday. Stated (for self and Cabinet) difficulties experienced and overcome in forming ministry. Mr. Haines (premier) expounded policy, which not being in my line, beg to refer you to newspaper reports of same. Command a very large majority, and govt, affairs generally more firm and lively than “Have been for some time back. Will advise you of farther proceedings as they occur, and beg you will not suppose interests of Dennistoun Brothers and Co. likely to suffer per new engagements, as former will always command my chief attention. Would advise not to make heavy shipments just now, market being generally over-stocked with imported goods. Teas however are looking up, and coffees livelier. Gunnies may be quoted at six and six. . Your obedient servt.,
JAS. McCULLOCH.
To Messrs. Dennistoun Bros, and Co., Liverpool.

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