In these days of universal fencing it seems curious to think that from Portland Bay to Geelong, from Geelong to Melbourne, was there never a fenced-in estate--only the horse and bullock paddocks. Tens of thousands of cattle were managed and controlled by the stockman--as he was then called--(stock-rider came later), with, perhaps, an assistant black boy or white urchin of some sort. It was held that in that respect the cattlemen had the best of it, as one good stockman with occasional aid could look after two or three thousand head of cattle--none of our herds were over this number--whereas every thousand or fifteen hundred sheep needed a shepherd, great loss ensuing if the labour and tendance were not provided. The great industries of Port Fairy were agriculture on the one hand, and pastoral on the other. The rich lands which lay westward of Warrnambool were gradually sold, always after survey and by auction, having been subdivided into moderate-sized farms. These were purchased by resident farmers or small capitalists who desired to try agriculture for an occupation. There was a good market for produce, and the fame of the Port Fairy wheat crop, as well as that of the potato harvest, commenced to spread. Than the lands on the banks of the Merai, around Warrnambool, and between that town and Port Fairy, none more fertile are known in Australia. They enjoy the conditions of deep, rich loam, resting on a substratum of tufa and limestone, with perfect natural drainage. So friable, too, as to be ready for the plough immediately after rain. Apparently of an inexhaustible fertility, and lying near the sea, which occasionally sends its spray over the wheat sheaves, they are but little subject to frost. The coast showers preserve the moisture of the soil, and, whether for grain, roots, or grass, prevent the disastrous desiccation so unhappily common in the fields and pastures of the interior. As the farmer commenced to press closely upon the pastoral Crown tenant, a certain soreness was engendered, but no complaint of wrong-doing on the part of the Government followed. The squatters accepted the situation; they did their best to lighten the difficulty. Those who had high-class grazing or arable lands bestirred themselves to buy as much around the homestead as would serve to make a moderate estate. The situation and climate being undeniably good, they argued that they could make as much out of a few thousand acres of freehold as formerly from the whole area under an imperfect tenure. As a matter of fact, when the dreadful "auction day" arrived, the greater portion of the menaced squatters thus saved themselves. Men sympathised with them, too, and did not bid too persistently against the former Lord of the Waste, whose day of dominion was over.