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I shall begin with the climate, which and some knocked down, &c. All this is very healthy, being neither hot nor stock, together with ourselves, live at cold, but exceeding temperate. It ne- present on the flesh of the elephant. ver freezes, nor is there heat enough The pigs, however, may live altogether for ripening melons ; I think, at least, on herbage where they are ; for which not without enclosures, of which I purpose, indeed, I put them down have none. It is rather windy, but no there ; but I give them an elephant severe gales as yet. In the winter and once in ten or fifteen days to keep them spring it rains often, rendering it very in heart. The dandelion grows here disagreeable to us, who have but a in the greatest luxuriance, and very sorry Jaackstraw's hut, thatched with abundant. All the wild pigs live on coarse grass, without floor, &c. But those, and on a very pleasant smelling we have weeks together as fine wea- strawberry-leaved kind of geranium, ther as summer, and vegetation goes We have shot a few wild goats, of on finely through the year. All the which there are, I suppose, 12 or 16 hardy kinds of kitchen garden stuff left. I want a few sheep, tame goats, flourish better in winter than summer, and rabbits, to stock the island with as in the latter they are apt to run for game. We have the little black cock seed, such as cabbage, French, Lap- in great numbers, and, in the fall, land, and round turnips, beet, carrots, are very fat and delicate. We caught parsnips, pease, raddish, lettuce, onion, some hundreds last year with a dog, parsley, &c. Potatoes suit the soil, but I have none proper for them, such which is a light one, and composed, as a terrier would be. The mountains for the most part, of vegetable mould. are covered with albatross, mollahs, A stream of water, which might vie petrals, sea-hens, &c.; and a great with many celebrated streams. There deal of feathers might be had, it peoare three constant streams on this ple were to attend to it. north side of the island. The land is “For the waters, they are well furcovered with wood quite up to the nished. Fish are had at any time for mountains, but of a creeping kind of the trouble of taking them, whenever shrub, many of the size of an apple- the sea is smooth enough to fish from tree. Ships may procure what wood the rocks. We have no boat, and of and water they may want for all culinary course cannot have them so often as purposes. Of land fit for cultivation, we want them ; but on a kind of raft I think there are 8 or 400 acres on this of six pieces we push off on a smooth side, including a fine meadow of about time, and take many sheephead cray12 or 15 acres : on this cattle may fish, gramper, and large mackerel. feed the year round. I have a small From the rocks, which is the mode we flock of geese, which give me no trou- are obliged to take, we supply ourselves ble to feed, as they find abundance of sometimes, but are obliged to use a green herbage throughout the year; large piece of elephant meat to entice and as I do not mean to kill any of them near enough the rock. A boat them, except, perhaps, some spare gan- would be victuals and drink to us. In ders, until I have 50 breeding geese, the deep waters there are large fish, as I may expect in a little time to have cavallas, and a kind fat as salmon, and a good stock of them. Dunghill fowls I have no doubt but very large grambreed three or four times a year. I per are to be found there. Sea-elehave one now setting for the fourth phants are plenty, and they pup yearly, time, and think she will make out to coming up in the months of August bring the fifth set of chickens before and September for that purpose. Awinter. Of ducks I have only ten; bout a month or five weeks they take having lost all my turkeys, Muscovy the male, and then go off to feed, and ducks, and all of the English ducks, in six weeks come up, and remain a except three, by their eating fish-guts month or two to shed their old coat, last winter. I have a piece of ground, and get a new one, and from that time about 10 or 12 acres, containing two are, for the most part, lying in the sun ponds, where the sea elephants abound; asleep. The males, however, stay off here I have 8 sows, and 4 boars quite longer, as they are more exhausted tame; all of which, save 5, we have by their commerce with the females, caught on the island, of which there and are three times longer, of course are many more; some we have shot, require a longer period to feed. Their food is chiefly kelp, but I have found kind of boats called at Cape Cod half squid in their stomach. During the boats; a kind of whale boat which cost pupping season, the black-fish are very about 25S.there, with provision enough numerous, and equally rapacious, ale for twelve months. For the purpose ways on the look-out for the elephants, of saving the oil, a cistern, as they great or small, young or old. I have have at the Cape of Good Hope, should seen them attack old ones, and carry be made; stones enough are on the young ones off. They run themselves spot ; lime and a mason or two (many aground on the beach very often, so of a roving disposition may be found that we lance them frequently, and in these times cheap), with a frame shoot into them. This last season I suitable to the size of the cistern, with think 1000 pups we brought forth boards, &c. to cover and make it on this island, and as many more on tight. A plaud flooring to support the other two, and I suppose, when the casks, which should be filled from I passed near those islands, in the pas- a small wooden pump let down into sage out to Bengal, in the Grand Turk, the cistern. The building would ans they must have been almost innume swer for the men to live in. Some rable; seeing some parties or other hhds. salt, which, at Cape D. cost have been oiling here ever since, and 50 per hhd., and two or three asses so many yet remain. If they are not to carry blubber and skins from a dis.. disturbed for two or three years, the tance; for the greatest part of the work increase must be great and profitable, of the oilers is to carry the blubber to especially if their skins are attended the coppers. Two boilers of iron, to, and salted. We have killed about holding from 60 to 90 gallons each, 80 since we landed, and suppose we with ladle, skimmer, cooler, strainer, shall kill about two a-week through knives, steel, grindstone, beaming the year. We have made about 1000 knives, a clank for beams, &c. By gallons of oil, for the purpose of buy- the time a vessel gets here, I shall be ing a boat, if possible. Of seals we able to supply a considerable part of have not taken a dozen. Our situa- their daily food from my pigs, potation, like all new settlers, has not toes, and other vegetables, besides been very comfortable. We have not fish, &c. A cistern, 40 feet long, 15 ate bread these six months; that pare feet wide, and 10 feet deep, would cel you supplied me with lasted a- contain from 1000 to 1100 barrels, bout that time. But turnips have been which may be made in fifteen months, bread to us. I hope to have as many if the boilers are kept properly going. potatoes in three or four months as And as the elephant in general makes will always stand by us while we re- about a barrel of oil, though some of main on the Island, but cloth I shall the males will produce 100 gallons, of want, and must depend upon vessels course there would be as many skins for a supply of them. The prospect as barrels of oil, besides, at least, 1000 of one day making something of the pup skins, which are very fine and oil and skins of the elephant and pretty, and would, no doubt, average seals, from the fish and other matters, a dollar each. The oil in the cistern consoles me for all other privations. would require barrels to carry it to I shall now submit, for your consi- market, but if it remained for some deration, a proposal which may per- time it would be always safe, and haps be feasable, and which you may, growing better for standing to settle ; on reflection, adopt, viz. to join me and, as the cistern would last many in the business of making oil and years, the expense once defrayed, eiskins on these islands. The mode I ther by oil, skins, &c., it may be al shall recommend will be simple, and ways kept full at very little expense, the least expensive that can be under and ready to ship whenever a market taken, that is, to buy a small fishing was to be found for it. If the proschooner of about 50 tons, such as posal should be relished, I should like may often be had in the spring, or to be jointly concerned in it, but, as late in the fall, in Cape Cod, for 500 S., I have no money to advance, I could and if you wish to give your brother only, at the first, lend my assistance Jonson employment for a year or two, towards completing the business, while send him here in her with ten or it would be your part to furnish the twelve men. Two or three of those means to get it once anderway.

“I do not in the above estimates in when the cistern becomes full, new arclude the seal-skins, but there are rangements can be made with the many about these islands; and per. crew; if necessary, bear in your mind haps 1000 or 1200 might be taken in that one ass is equal to two men in 15 or 18 months, without neglecting carrying blubber, consequently four or any other part of the business, or cost- six asses, with three men, would equal ing a farthing to obtain them. Fish a crew of ten or fifteen men, eight or would be an article worth attending to, ten of whom would require very difas they are, when salted and dried, ferent provision from asses, the latter very fine, and such as I have seen at finding food at every step. Two men the Isle of France for S.6 the 110lbs.; at the boiler, and one to load the asses that however, and the seal-skins, may and drive them, would be the work of remain in the back-ground, making many men, and save great expences use of them when occasion may re- in provisions and shares of the oil as quire to fill a small vessel with an as- wages. sorted cargo of oil, skins, fish, &c. for < I leave it now to your considerathe Rio market, if it be thought pro- tion how far it will suit you to enter per. Oil was worth 50 cts. when you into a concern of the kind. At any were there, and that is more than it is rate, the business should begin small, worth in America, and a much nearer in order to see first what may be done market. Empty pipes are plenty at (there is no doubt in my mind but Rio, and cheap, and put in proper or- it will succeed and become very lucrader might be stowed in the hold, and tive), what I have related above rea filled from the cistern by means of specting the elephant, seal-fish, &c. btts. or half-btts., and carried on board may be relied upon; and I could, with with great ease and safety, and the two or three more men, procure in a casks always fresh furnished, if the oil season a ton of feathers equal to any sold at Rio. Even if the oil sold at in the market. Should any vessel be Rio for 30cts. per gallon, it would be bound to the Cape, or round it, do worth pursuing ; for the cistern only drop me a line to inform me of the once filled, could, with very little aid receipt of this if it comes to hand. from men and a few asses, be always Respects to your brother Jonson; and kept full, and the small craft may believe me, with great respect, your make what speed she pleases to take it obedient servant, J. LAMBERT.” away, besides the means of being so readily furnished with casks, and the The original of this Letter is in vicinity of the market to the cistern. my possession ;-it was brought Elephant skins, I have seen in an Eng- by Captain Beville from Tristan

d'Acunha after the death of Mr lish paper, sell well in London ; why

Lambert. ALEXR. WALTON. then may not Rio furnish a market for them also, when well salted and dried, seeing so many English merchants Plants on the Island of Tristan. and agents are constantly buying up every thing which will answer as re- 1. Dock mittances, &c.; and surely, being a 2. Celery. Roman Catholic country, the fish

3. Parsnip. would sell as well as in most places ?

4. Fern.

5. Sweet Herb. Upon the whole, I feel satisfied,

6. Geranium. that a voyage (if a voyage it may be

7. Wormwood. called, the interest of which would

8. Grass, called Tussue. not cease with the end of that voyage) 9. Do. Small. of the kind would in the present 10. Do. Round Species in Tufts, times answer very well, and your 11. Ice Plant. brother Jonson would find it abun- 12. Creeping Moss. dant opportunity and encouragement

13. Berry Bush.

14. A Trailer like Sweet Briar. for his well-known talents and abili

15. Do. ties. At any rate, the oil fit would

16. Samphire. not be great, say S.2000, and the be

17. Dandelion. nefit would be lasting to you. The 18. A plant growing like Fern. men may be had upon shares; and 19. Tree.

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LETTER FROM LIEUTENANT KING, north coast, is abundant. There ap

NOW EMPLOYED IN COMPLETING A pears to be very little land that could SURVEY OF NEW HOLLAND.

be brought into any cultivation ; and

that is so surrounded with marshes [It is known that our Government, anxi. and overflowings of the sea, that it ous for the completion of a survey of New could be made little use of. The Holland, has sent an expedition, under country, as far as 12° 38" south, to Lieutenant King of the Royal Navy (son of which point I ascended a river which Governor King), to examine all the coast of I discovered at the bottom of Van Diethat inmense country which has not been men's Gulf, was not an atom better. already visited and laid down by British na

The coast about Exmouth's Gulf vigators. We are extremely obliged to a Friend, who has communicated to us a pri (an opening to the south-east of the vate letter from Lieutenant King, which N.W. Cape), is truly deplorable, worse gives some account of his proceedings down than any description I have seen of the to the middle of June last, and which, slight Deserts of Arabia. During the night, as it is, will interest our readers; and the as well as the day, the heat is almost more, because some

unfounded reports insufferable; the soil producing nowere in circulation of the loss of the Ver; thing useful for man that we could maid (Lieutenant King's vessel), and of all her crew, in the preceding February. The discover ; but the tracks of natives in French expedition, which sailed long after many parts convinced us, that human Lieutenant King, for this coast, will find beings existed in this condemned corthemselves anticipated by Lieutenant King's ner of Australia. Emic tracks were visit.'


also seen.

The natives on the north coast were H. M. Cutter, Mermaid, Timor, very annoying; and though I did every June 11, 1818.

thing I could to conciliate them, and

bore many things from them without DEAR SIR,

resentment, yet I was obliged once or It is with much pleasure that I have twice to fire in self-defence. I am met with an opportunity of forwarding now sufficiently convinced that we a brief account of my first proceedings; cannot hope to be able to maintain the more so that I have been enabled peace with them, acquainted as they to ascertain the most particular points are with the Malays, who have, where pointed out in my instructions, viz. ever they land, when fishing for treThe Great Bay of Van Diemen, and fan, battles with them, in which the the opening to the eastward of the Malays use musquetry, to which, of north-west Cape, and behind the Rose- course, the Australians are become so mary islands. These I have examined accustomed, that I do not think with the greatest care; and I trust they have such a dread of fire-arms as that, although not fortunate enough might be imagined. From a converto meet with any opening to the east- sation I had with the Rajah of a fleet ward of the north-west Cape, I shall of proas who were at anchor here, and not be considered to have lost my time. who fish on the coast of Australia every The size of the vessel I am in, puts it year, I confirmed the above observaout of my power to form a finished tion; and learnt further, that no richart ; but, having every thing in right vers, except what are produced by the form and order, I shall not be long rains in the rainy season, are known after my arrival ere I shall be able to to them. The coast is called by them finish one, to send to the Admiralty by “ Marega," and the natives “ Marethe first following opportunity, as well gas." The Rajah described them to as a detailed account of my proceed- me as treacherous and cruel; but that ings. Suffice for me at present to character so well applies to his own nasay, that the north coast, and, I fear, tion, that if it is the case (of which I the whole of the north-west coast of have little doubt), they may have been New Holland, will turn out to be en- the pupils of the Malays themselves. tirely unprofitable for any settlement As to our health, we fortunately or improvement; for, as yet, we have passed through the trying time of the seen nothing to offer the least induce, change of the monsoon without any ment towards colonization. The natural sickness; and we are all without exproductions are, in fact, nothing but ception well. I am, &c. the sago, which, in some parts on the

PHILIP P. King, Lt. R. N.


ON THE STOCKS, OR PUBLIC FUNDS. granted. To explain this by an exam

ple, let it be supposed that government MR EDITOR,

wishes to borrow £100, and that the In a former communication on this bills or securities, to be granted, are subject, I had proceeded so far as to to bear interest at 4 per cent. on the explain the general principle of the sum specified in the bill; but that transactions between government and the lender refuses to take less than 5 the original lender, who advances per cent. for the money that he admoney for the public use, as well as

It is obvious, that the only the manner in which the latter trans- way in which a bargain can be cona fers or sells to others the bills or se- cluded is, by government granting to curities which he receives for the mo- the lender, for the £100 borrowed, an ney so advanced.

For the sake of acknowledgement for such a sum as illustration I conceived it necessary to at 4 per cent. will yield an annual intake a very simple case, though in terest of £5. Now, at 4 per cent., it doing so I was under the recessity of will require £125 to yield £5 of inrepresenting the transaction in a some- terest; and consequently, for every what different point of view from what £100 Sterling borrowed on 4 per cent. actually takes place. Presuming, how- securities, government actually grants ever, that such of your readers as real- to the lender an acknowledgement for ly desire information upon the sub- £125; or, which is the same thing, ject, have made themselves masters of for every £80 Sterling borrowed, an my former communication, I shall acknowledgement is granted for £100. now, with your leave, proceed to give In like manner, when the government a more particular, as well as a more securities bear only 3 per cent. the correct account of the public funds, lender receives an acknowledgement and of the transactions to which they of £100 for every £60 Sterling which give rise.

he advances, and in both cases actual. If, as was formerly supposed, the ly lends his money at the rate of 5 bills or securities which the lender re- per cent. interest. These two species ceives for his money, uniformly bore of securities constitute what are called interest at 5 per cent. on the sum 3 and 4 per cent. stock, and their price specified in the bill, it is obvious that is affected in the same way, and by the whole national debt would consist the same circumstances, as that of the simply of 5 per cent. stock, because it 5 per cent. is these securities that constitute what The term stook, in its proper acis called government stock. Our rul- ceptation, denotes that capital with ers, however, fer reasons afterwards which a trading company, as the Bank to be explained, have thought it .ex- of England or East India Company, pedient to grant securities to the pub carries on trade ; and a stockholder sic creditor, bearing a lower rate of in- or partner is one who has advanced terest, viz. 4, but in most cases only a certain share of that capital, and is 3 per cent. on the sum specified in thereby entitled to draw a proportion such securities; and it is this circum- al share of the concern. The term, stance that has given rise to the va- therefore, cannot, strictly speaking, be rious denominations of 3, 4, and 5 per applied to government securities, becent. stock. But though government cause then the capital or sum advanced thus fixes the rate at which its own is not employed in bringing in an imsecurities are to bear interest, it must mecliate return of profit, but is actually not be supposed that it actually bor- expended without the smallest prosrows money at 3, or even at 4 per pect of being recovered. At the same cent. Notwithstanding the superior- time, the public creditor is in a situaity of government credit to that of tion in many respects so similar to a companies or individuals, the minister partner in a mercantile concern, and who transacts the loan, on the part of the word stockholder has been so long the state, is seldom able to borrow at and so generally applied to him, that a rate much below the legal interest the application may poy be considered of 5 per cent.; and in proportion as as sanctioned by use. The term fund he lowers the rate at which the se- is sometimes substituted for that of curities are to bear interest, in the stock, and the person who purchases same proportion must he increase the government securities is said to invest nominal amount of the securities his money in the public funds. This

Vol. IV.


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