In 1803, Mr. M’Arthur revisited England; and there happening at the time to be a committee of manufacturers in London from the clothing districts, he exhibited before them samples of his wool, which were so much approved, that the committee represented to their constituents the advantages which would result from the growth of fine wool, in one of the southern dependencies of the empire.  In consequence of this a memorial was transmitted to His Majesty’s government, and Mr. M’Arthur’s plans having been investigated by a Privy Council, at which he was present, they were recommended to the government as worthy of its protection.  With such encouragement Mr. M’Arthur purchased two ewes and three rams, from the Merino flock of His Majesty King George the Third.  He embarked with them on his return to New South Wales in 1806, on board a vessel named by him “the Argo,” in reference to the golden treasure with which she was freighted.  On reaching the colony he removed his sheep to a grant of land which the Home Government had directed he should receive in the Cow Pastures.  To commemorate the transaction, and to transmit to a grateful posterity the recollection of the nobleman who then presided over the colonies, the estate, together with the district in which it is situated, was honoured by the name of Camden.

Export of wool to England.

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.