The production of wool -- the careful acquisition of a good flock of well-bred sheep, and the attainment of the highest degree of perfection in preparing the fleeces for the English market -- appears to us to be the proper ambition of an emigrant to the Australian colonies. When ill-health compelled my steps hither, it was the intention of myself and brothers to invest our capital entirely in sheep; and retiring into the bush for some six or seven years, gradually accumulate a large flock, the produce of which would soon have afforded a handsome income. It has never, however, appeared to be the object of either the Home Government or the Local Government of any colony (though unquestionably the interest of both) to encourage emigration. Settlers have invariably every possible difficulty thrown in their way. On arriving in this colony, we found to our astonishment that squatting was illegal, and that we would not be allowed, as we had designed to carry our goods into the interior and form a station upon Government land. No license could at that time be obtained, and if we bought the smallest section allowed to be sold, which was 640 acres, for as many pounds, it was ten to one but we should soon find the district in which it was situated insufficient for the run of a large flock, and should have to change our quarters again. The consequence was, that we were compelled to abandon our project: my brothers took a farm at a high rent, and wasted their capital upon objects that could never bring in a good return; whilst I (infelix!), instead of listening to the gentle bleatings of sheep, and ministering to the early comforts of innocent lambs, have been compelled to hearken to the angry altercations of plaintiff and defendant, and decide upon the amount of damages due to injured innocence when the pot had insulted the kettle. Now, however, limited licenses are granted to persons wishing to go as squatters upon Government land; and even before these were issued, we were OBLIGED to send our sheep upon Crown lands, and form a station, for want of room in the settled districts. Sheep flocks constitute doubtlessly one of the most profitable investments for the employment of capital, notwithstanding the many obstacles and discouragements still thrown by both governments in the way of the wool-grower. They yield a very large return TO THOSE WHO ATTEND TO THEM IN PERSON, and who confine their attention entirely to that pursuit, growing only corn enough for their own consumption. CHAPTER 21. EXTRACTS FROM THE LOG OF A HUT-KEEPER. May 10th. -- Felt rather lonely to-day, in the midst of this endless solitude. Sat before the hut-door thinking of Zimmerman and his Reflections. Also thought of Brasenose, Oxford, and my narrow escape from Euclid and Greek plays. Davus sum, non Oedipus. Set to work, and cooked a kangaroo stew for the three shepherds.