The site for this building is on an elevated piece of ground nearly opposite the Mechanic's Institution in Collins Street, and the foundation stone of the intended edifice was laid on Tuesday afternoon last, by Dr. Peter Macarthur, and the Rev. Andrew Mitchell Ramsay. The Rev. William Jarrett, Rev. James Clow, the elders and deacons of the church were also present.

The Rev. Mr. Ramsay read the inscription, together with the minutes of the first synod of the United Presbyterian Church of Victoria, - the third annual report of the progress of that Church, and an address that was delivered on the 19th June, 1849, in the Protestant Hall, by the same Rev. gentleman on the subject of church sites. These were all enclosed in a hermetically sealed bottle, and placed underneath the foundation stone. The following is the inscription:-

"WITHIN this, the City of Melbourne, and province of Port Phillip, on this, the Twentieth fourth day of September, in the year of our Lord Eighteen Hundred and Fifty, was laid the Foundation Stone of this Place of Worship."

The stone was laid by Peter Macarthur, Esq., M.D. of Arthurton, one of the Justices of the Peace for the Colony, and a Ruling Elder in the United Presbyterian Church, at present assembling in the Protestant Hall, Stephen Street, for whose accommodation and by whose exertions this edifice is erected.

Without affecting by any Ceremony or religious service to impart to this building any Sanctity or Sacred character, and without prescribing from within its walls any assemblage which the cause of truth, or humanity, or freedom, might in seasons of emergency require; this Edifice is expressly and designedly for the Worship and Service of the one living and true God; the faithful preaching of the Gospel of our Lord Jesus Christ; due observance of the various ordinances; and the full enjoyments of a New Testament Church.

By the congregation purposing under the kind providence of God to assemble within these walls, the Lord Jesus Christ is held to be the Sole head and Law Giver of the Christian Church, and the Scriptures of the Old and New Testaments to be the ultimate appeal in all matters of Ecclesiastical Controversy. The Church is considered and declared to be complete in herself, having a Constitution and Administration, Ordinances and Immunities all her own; requiring no civil enactment to give effect to her discipline, and no state provision for the maintainance of her Ordinances. Self-sustaining. Self-extending. Independent and Free.

This Presbyterian Church accordingly disavows all connection with the Government of this world, repudiates all state endowments of Religion whatever name they may assume and cheerfully, and from choice rests her entire support upon the free will offerings of the people, according to the grand financial law of Christ's Kingdom. (1st Corinthians - chapter ix: verse 14) (Galatians - chapter vi: verse 6)

While holding a special connection with the United Presbyterian Synod of Victoria, recently formed; this Church would cherish and cultivate the most extensive Christian affiance. Without particularizing any of the branches of the great Christian commonwealth, this Church extends the right hand of fellowship to all who love the Lord Jesus Christ in sincerity and truth, by whatever name or denomination they are known among men. Faith and holiness are deemed the essentials of Christianity, and are hailed with delight as the offspring of faith, whenever they appear; and being sincerely desirous of maintaining the unity of the Spirit in the bond of peace, she rejoices in the mutual approximation, which at the present time is manifesting itself amongst the various Evangelical Denominations.

This undertaking is commenced in humble and prayerful dependence on the grace and blessing of the Supreme sole Head of the Church, in the Year of our Lord MDCCCL, and while this colony is in daily expectation of a new Constitution from the Imperial Parliament in England, detaching it from New South Wales, and erecting it into a separate and independent colony, under the designation of Victoria. In the fourteenth year of the reign of Her Most Gracious Majesty, Victoria, Queen of the United Kingdom of Great Britain and Ireland, Sir Charles Augustus Fitzroy being Governor of New South Wales; Charles Joseph La Trobe, Esq., Superintendent of Port Phillip and Augustus Frederick Augustus Greeves, Esq., Mayor of Melbourne.

Andrew Mitchell Ramsay, Pastor and Moderator of the Synod of Victoria, United Presbyterian; Peter Macarthur, George Coltherd, John Ferguson, and Benjamin Bell.

William Anderson, William Dall, James McMahon, John Sleight, Adam Anderson, James Turner, Robert Findly, George Milne, James Farish, James Campbell.

Andrew Mitchell Ramsay, John Dinwoodie, E. Langlands, John McGregor, Patrick McArthur, William Anderson, William Dall, George Coltherd, Adam Anderson, James Turner, Robert Findly, George Milne.

Dr. Peter Macarthur, the senior elder of the Kirk, then went through the usual ceremony, and the stone was lowered to its destined position.

The Rev. A. Ramsay then addressed the meeting in a very excellent and pathetic discourse: and on his conclusion, he intimated to those present, that there would be no collection made then, but that a service would be held in the Protestant Hall, Stephen Street, at half-past six o'clock that evening - when several named gentlemen would address the meeting, and a collection would be made in aid of the funds.

The entertainment accordingly took place at the above named hall, and the Rev. William Butters, Rev. William Jarrett, Rev. John Harcourt, Rev. Alexander McNicol, and the Rev. Thomas Odell, addressed the congregation on various subjects. A collection to the amount of £12 10s. was made, and the utmost harmony and satisfaction seemed to prevail.