Since that time the value of New South Wales wool has been constantly on the increase, and the colony are indebted to Mr. M'Arthur for the possession of an exportable commodity which has contributed very materially to its present wealth and importance. Such general attention is now paid to this interesting branch of rural economy, that the importation of wool into England from our Australian colonies, amounted, in 1832, to 10,633 bales, or 2,500,000 lbs. It has been sold at as high a price as 10s. per lb.; but the average price of wool of the best flocks vary from 1s. 6d. to 4s. 6d. at the present moment. The number of sheep in New South Wales alone was calculated in the last census at 536,891 head. The ordinary profits on this kind of stock may be extracted from the Table given in the Appendix to the first volume of this work. WHALE FISHERY. Among the various speculations undertaken by the merchants of Sydney, there is not one into which they have entered with so much spirit as in the South Sea Fishery. The local situation of Port Jackson gives them an advantage over the English and the American merchants, since the distance of both these from the field of their gains, must necessarily impede them greatly; whereas the ships that leave Sydney on a whaling excursion, arrive without loss of time upon their ground, and return either for fresh supplies or to repair damages with equal facility. The spirit with which the colonial youth have engaged in this adventurous and hardy service, is highly to their credit. The profits arising from it may not be (indeed I have every reason to think are not) so great as might be supposed, or such as might reasonably be expected; but the extensive scale on which it is conducted, speaks equally for the energy and perseverance of the parties concerned, in the prosecution of their commercial enterprises. It has enabled them to equip a creditable colonial marine, and given great importance to their mercantile interests in the mother country. In the year 1831, the quantity of sperm and black oil, the produce of the fisheries exported from New South Wales, amounted to 2,307 tons, and was estimated, together with skins and whalebone, to be worth 107,971 pounds sterling. The gross amount of all other exports during that year, did not exceed 107,697 pounds sterling. Of these exports, the following were the most considerable: Timber 7,410 pounds Butter and Cheese 2,376 Mimosa bark 40 Hides 7,333 Horses 7,302 Salt provisions 5,184 Wool 66,112 The above is exclusive of 61,000 pounds value of British manufactures re-exported to the various ports and islands in the Southern Seas. OTHER EXPORTS.