McMillan took over the ‘Waterwitch’ for the next trip, and also chartered the schooners ‘Industry’ and ‘Scotia’, which were the first vessels brought up to the shipping place at Port Albert on August, 3rd, 1842.  Each of these vessels took two cargoes to Hobarton, which sold well, and then Macalister chartered the brig ‘Pateena’, which would hold sixty bullocks.  The ‘Clonmel’ punt was now dispensed with; the cattle were roped, put in the water, and made to swim between the vessel and a boat.  A piece of small ratline was fixed to the slings, with the handlead made fast to it so that it would sink.  The mate had the slings, and a man in the boat held the other end of the line, and with it he hauled the slings under the bullocks, which were then made fast, and the animal was hoisted up.  In this way forty bullocks were shipped in three hours.

Oysters were obtained in great abundance at Clonmel, Snake Island, and in other parts of the inlets, and the cattle vessels, after receiving their loading, took bags of oysters on board for sale at Hobarton.  In June, 1843, the cutter ‘Lucy’ took 700 dozen to Melbourne, and in July another 700 dozen.  In August the ‘Mary Jane’ took 500 dozen, and the cutter ‘Domain’ 400 dozen.  The oyster beds were soon destroyed, and when in course of a few years I was appointed inspector of fisheries at Port Albert I could never find a single dozen oysters to inspect, although I was informed that a certain reverend poacher near the Caledonian Canal could obtain a bucket full of them when so disposed.

Gippsland enjoyed one year of prosperity, followed by seven years of adversity.  The price of stock declined so rapidly that in April, 1843, the very best beasts only realized 6 pounds per head, and soon afterwards it was estimated that there were in New South Wales 50,000 fat bullocks which nobody would buy.  Moreover, the government was grievously in want of money, and in addition to the fees for depasturing licenses, exacted half-yearly assessments on the unsaleable flocks and herds.  But the law exacted payment on live cattle only, so the squatters in their dire distress resolved to kill their stock and boil them, the hides and the resulting tallow being of some value.  The Hentys, in the Portland district, commenced boiling their sheep in January, 1844, and on every station in New South Wales the paddocks still called the “boiling down” were devoted to the destruction of sheep and cattle and to the production of tallow.  It was found that one hundred average sheep would yield one ton of tallow, and ten average bullocks also one ton, the price in London ranging from 35 pounds to 42 pounds per ton.  By this device of boiling-down some of the pioneers were enabled to retain their runs until the discovery of gold.