The Dunstan Times. FRIDAY, AUGUST 21, 1868.

Dunstan Times, Issue 330, 21 August 1868, Page 2

The Dunstan Times.

FRIDAY, AUGUST 21, 1868.

Beneath the Rule of Men entikkly just the ten is MiGHTlElithantheswoKD.

The news from the Auckland Goldfields is begining to create considera ble excitement amongst the mining community here, and there appears every probability that a large number of persons will be leaving for the Northern Eldorado. The'quantides of gold obtained from .some of the claims there is something astounding ; such a yield as ten thousand ounces from one claim, as the result of only nine days crushing has had no equal anywhere ; and whether the stone may have- been picked, or not, the fact that gold exists in large quantities in the reefs in the North Island is indisputable, and we cannot wonder at the anxiety of people to go and see for themselves. "We would however advise the exercise of a little caution before breaking up homes or sacrificing mining or business property ; an old adage says,— " all that glitters is not gold " and we think that it is quite applicable in this eise; the higlily payable i ature of some of the reefs or spurs may be an established fact, but in number they may be very small, and when we cansider that the gold is not worth more 'than from two pounds five to two pounds ten shillings per ounce.andtheauriferonsquartz existing in merely narrow veins, the yield would necessarily require to be a very large one to pay. Then we have the fact that wages are only from thirty shillings to two pounds per week, and labor plentiful; from that, no other conclusion can be drawn, than that there is not much of it required otherwise. Even let provisions be ever so cheap, labor on a new and promising Goldfield would be much higher. Where there is nothing going on, but qnartz reefing, it is no place for an indiscriminate rush, and as a general rule, those that arrive late stand equally as good a change, even if not better then those earliest on the scene, as during the first excitment, one hundred times as much ground is taken up as is likely to be worked, and those that have it taken up possess no means of working it, while at the same time a ficticious value is always asked for shares,'which had the eager purchaser have only exercised a little patience, he might have bought at a great reduction. We have no wish to disparage the Auckland Goldfields, but at the same time, there can be no doubt but that, if they are as prolific, and as extensive as said to be, there is plenty of time to assure oneself of the fact before proceeding thither.