THE NEW COLONY 307 



about midway between the site of the present Princes Bridge and 

 the Railway Bridge. He continued to work his punt, with much 

 profit to himself, for two years, and then sold out to a newly 

 formed company, called the Melbourne Bridge Company, which was 

 projected with a subscribed capital of 5,000, of which, however, 

 only 500 was apparently called up. Its ostensible object was the 

 erection of an iron suspension bridge, and the directors went so far 

 as to enter into a contract for a neat structure of that character for 

 4,500, the Government being willing on its completion to concede 

 to the company the right of levying tolls for twenty-one years. 

 Whether the punt business was sufficiently profitable without the 

 further outlay, or whether the contractor was unable to command 

 the materials, or the Sydney Council refused to implement the 

 Superintendent's alleged promise of a monopoly, is not easily 

 ascertainable, but the proposal fell through, and with the aid of a 

 second punt the company compelled the citizens to rest satisfied 

 with that primitive form of transport for five years. 



Richard Howitt, writing in December, 1843, says : 

 " Seven years have elapsed since the colonisation of the country, 

 during which period several hundred thousand pounds have been 

 realised by the sale of its lands ; near it is a handsome and 

 populous town, yet over the Yarra, a stream forty yards wide, and 

 after as much has been paid to cross it as would build a dozen good 

 bridges, there is no bridge. Here I have known a poor man, with 

 his four bullocks and a dray, after coming seven miles, cutting and 

 lading his wood overnight, after hawking his load all day and 

 selling it for three shillings, after paying at the punt two shillings 

 and fourpence, return home seven miles in the evening with eight- 

 pence in his pocket." 



Mr. Howitt, though his own experience in trying to form a 

 home on the Yarra made him pessimistic, is not a man whose 

 word can be doubted, but it is to be hoped that his illustration was 

 very exceptional. It is true that the settled population south of 

 the Yarra was small and scattered. The area now covered by the 

 populous town of South Melbourne was mainly sandy scrub, in- 

 tersected by swamps. The highest portion, so long known as 

 Emerald Hill, when denuded of its timber for firewood, was used 



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