WATER RACES.

Dunstan Times, Issue 302, 7 February 1868, Page 3

WATER RACES.

(To THE EDITOR OV THE DIJNSTAN TIMES.) Sir, —Among the many subjects selected by your correspondents, one—that of water races— has been much neglected, and, considering its importance, it is well worthy of consideration. Unless it be the expiring efforts of some enterprising, though sanguine and unfortu* nate company, striving for means to prolong existence by a notice in the papers to increase their capital, the outside public hear little about water-races. The rich deposits of our goldfields are lying dormant for want of water. The capitalist must have grave misgivings, or be altogether deterred by reading from time to time the account of the sale of large undertakings for almost less than interest on the original outlay. This is much to be reregretted, as tending to deter speculation. Many circumstances might be enumerated, but the following may be set down as the principal causes of so many failures :—Expensive management at a time when both labor and material were excessively high, and the promoters not being sufficiently acquainted with the magnitude of their undertaking or the extent and quality of the ground; consequently the undertaking comes to grief either for want of capital or through bad and inefficient management. Were a system adopted of publishing occasionally the wants and requirements of the miners in this respect much good might be done, and a large extent of payable ground might be worked, as money would be more freely advanced upon reliable information. The Wardens' summaries are little better than bagmen's reports, otherwise tnuch information might be derived that would be interesting and beneficial to the country. I am, &c, FRANK. Bannockbttrn, Jan. 30, IS6B.