THE TECHNOLOGIST. [Aug. 1, 1H65. 
30 THE FISHERIES OF VICTORIA. 
considerable capital, say 3,000/. and upwards, who will have one or 
more stations ashore, with every appliance for curing as well as fishing ; 
and second — single fishing vessels, which will confine themselves, to 
fishing, selling their fish, as far as possible, in the Melbourne market, 
and the remainder to the curers, unless when they can cure on board. 
The body of the fishing fleet will consist of such single vessels, fitted 
out by a few individuals, as in the Newfoundland and Scotch fisheries. 
The cost of a thirty-ton vessel with trawl, well, &c, would be about 
400Z. or 600Z., and there are many in this community whom such an 
investment would suit — men in various capacities, who have accumu- 
lated money beyond the requirements of their business, which they have 
now great difficulty in investing profitably. Mining has proved too 
much of a lottery for most prudent men ; agriculture requires personal 
superintendence, and has general 1} T proved ruinous at least to those not 
brought up to it ; squatting requires too much capital ; ordinary shares 
giving too small a profit. Whereas, a sound fishing-smack, fitted out by 
a few partners under the Limited Liability Act, insured, and under a 
skilful master, part owner, would be not only a safe but a profitable 
investment. Second, the pioneers, in establishing a natural deep-sea 
fishery, must encounter considerable risk and many difficulties, so that a 
company such as I have alluded to, and such as is now actually being 
formed, would be much more suitable for the enterprise than one indivi- 
dual. As this preliminary loss was incurred by me twenty years ago, 
I shall give the result of my dearly-bought experience for the benefit of 
these second pioneers. On arriving here in 1841, I had been struck by 
the fact that there was no article to exchange for the enormous quanti- 
ties of sugar, tea, and rice, &c, imported from the East ; and, further, I 
learned that the East India Company had for years found a most profitable 
market for a large quantity of Newfoundland cod, in Mauritius, India, 
China, and the Phillipines, &c, and had given up the trade only on account 
of the very long voyage then usual, during which the fish became un- 
saleable. Having partners to manage my sheep stations, I determined 
to establish a deep-sea fishery, and addressed a memorial to Lieutenant- 
Governor La Trobe, pointing out these facts, and the advantages that 
would arise to the colony. The government almost at once granted me 
a squatting licence at the month of the Yarra, where I established what I 
intended should be my head station. 1 set to work with a body of Scotch 
Highland fishermen and curers, and, before the season ended, proved, to 
my satisfaction, that the supply of schnapper was unlimited, and so 
cheaply cured that a most extensive and profitable export to the places 
above-mentioned could be established. The men then offered to hire the 
boats, and fish for the Melbourne market during the winter, and I agreed, 
for the sake of keeping them together ; but this at once brought them 
into collision with the other fishermen, and led to my giving up the 
scheme altogether. These men did not object to the deep-sea fishing, 
but declared that no gentleman or company had any right to interfere 
