In New South Wales.

As far as the colony of New South Wales is concerned, it is gratifying to know that she holds the premier position in the matter of production, and that her surplus for export is, as we have seen, a very large one. It is also satisfactory to know that for the past five years she has been making headway with lessened supplies of new capital. It ought now to be the object of all political parties to encourage the expansion of the natural industries of the colony, to keep down debt, and to insist on rigid economy. On these lines, and on these only, can permanent prosperity be obtained. The reaction from the colony's heavy, borrowings is not yet complete, the consequences are not yet all manifest; but it is well to know that New South Wales is stronger than any of the other colonies; that she has made by far the greatest progress in the path of profitable industry.