THE PRICE OF GOLD, AND THE EXPORT DUTY.

Cromwell Argus, Volume I, Issue 29, 1 June 1870, Page 3

THE PRICE OF GOLD, AND THE EXPORT DUTY.

{To the Mitor of the Cromwell Arqos.) Sib,—An impression has got abroad in this locality (through, I believe, tho Warden's report published in the Witness some two or three weeks back), that the price of gold at Queenstown is £3 17a 6d per ounce. Can any of your readers or correspondents inform me why we minors on tho lower portion of the Molyneux can 6nly obtain £3 15s per ounce for gold that is known to be aa puie as that obtained from any other locality in Otago ?

The banks at the Teviot and Alexandra have been enjoying a gold-buying monopoly for along time, and unless they advance the price of gold, the bulk of our yield will find its way to Queenstown, to the great injury of the business classes, and the detriment of the district generally. The loss of 2s 6d an ounce on the precious metal is a serious matter to the miners. The yield of gold on the lower fields has fallen off very materially, so that many persons engaged in mining find it necessary to sail very close to the wind to make ends meet, and some cannot even do that; for, what with miner's rights, water-charges, certificates of water-rights, goldduty, fees for almost everything connected with claims, besides wear and tear of plant, &c, we have to pay pretty dearly for our mining privileges. The price of gold at the Sydney mint, notwithstanding the export duty, freight, and other expenses, gives vory large returns to the Banks, for their outlay. Of course, one oannot object to the Banks having a fair margin of profit on their gold-trading acoounts; but I for one do not care about, or see the force of, any financial or commercial company being able to declare large dividends, with handsome additions to their reserve funds every half-year, at the expense of my blood, bone, and sinew. Let me tell you, Mr Editor, that gold-getting in these parts is no child's play, for what we get in the shape of ore, we have to earn very dearly frequently by the loss of life, and almost invariably at the expense of health. Jason, with his Argonauts, sailed to Colchis for his golden fleece, but our modern Jasons find their animal nearer home in the shape of a miner who is better shepherded, and closer shorn than ever the Thessalian prince knew how to do it. .' Mr Haughton, in moving for the abolition of the gold export duty, has done that which should procure him a grateful recognition from the miners. It shews that he has the Welfare of the mining communities prominently in view ; and in the event of his motion being negatived, we should make the abolition of the gold duty a chief stipulation, in returning gold-iields members, so that ultimately we may occupy a position corresponding with that of Victorian and New South Wales miners.

Trusting I have not trespassed too largely on your space, I am, &c, Sfes. Fourteen-mile Beach, May 26.