THE CONFUSION OF 1852, 1853, 1854 385 



Eanges, a debenture loan having been authorised to cover the 

 estimated cost of 600,000. Private enterprise constructed the 

 first Victorian railway, from the city to the port, and the extortions 

 of the lightermen and wharfingers were checked. By an Act of 

 Council passed in January, 1853, the Melbourne and Hobson's 

 Bay Railway Company was endowed with the land required for 

 the track, and on the 12th of September, 1854, the line was opened 

 for traffic. The energy displayed in this undertaking, and the 

 prospects of large profits, stimulated other enterprises with private 

 capital. Acts were obtained authorising the construction of a line 

 from Geelong to Melbourne, and one to Mount Alexander and the 

 river Murray. The former was completed some years later, in a 

 very slipshod condition, and in the absence of dividends the pro- 

 moters were very glad to sell it to the Government, when the 

 policy of State-owned railways had been determined on. The 

 latter hardly got beyond the prospectus stage when it was brought 

 to a standstill by financial difficulties. 



And while much was thus being done to promote industrial and 

 commercial development, the worried Executive, mainly on the in- 

 stigation of Mr. Latrobe, was responsive to the claims of intellect. 

 During the three years under review, a quarter of a million sterling 

 was disbursed in promoting education under the auspices of denomi- 

 national and national school boards, these rival systems having be- 

 tween them over 200 schools and some 15,000 pupils by the end of 

 1854. The glowing future prompted higher aims than mere primary 

 education. Sydney had established a university, and endowed it 

 with 5,000 a year. Surely Melbourne must do as well, or pro- 

 bably better. In November, 1852, Mr. Latrobe, by message to the 

 Council, commended such a course, and in January, 1853, the Act 

 of Incorporation of the Melbourne University was passed, and the 

 Lieutenant-Governor granted forty acres of valuable land for its 

 buildings on the northern boundary of the city. This handsome 

 endowment was later on increased to seventy-five acres for the 

 erection of affiliated colleges by the leading denominations. The 

 Council voted 30,000 for buildings and the liberal endowment of 

 9,000 per annum towards its maintenance. The Creative Bill was 

 carried through the Council by Mr. Childers, who in after years ad- 

 VOL. i. 25 



