QUARTZ MINING.

Dunstan Times, Issue 394, 5 November 1869, Page 3

QUARTZ MINING.

At Auckland they have ran foul of the same reef as that upon which Otago wrecked itself in the matter of its quartz-mining resources some few years back. Neither people of either province has done much to aid in the development of an interest of great value. Both have taken the results arrived at by a few practical miners as a means to an end. That end has not been the prospecting of claims or the testing of country under recognised and sound prinples. That line of action was too methodical and slow: the profits loomed too far in the diitAnga In the sequel they might have

been more permanent and regular under a more judicious plan than that of share speculation. But, in these days of action and fiery haste to suddenly become rich, who will go in for the deferrrd result which requires more time and labor to attain ? We cease to be plodding ; wo contemn it as folly, and consequently “ men rush where angels fear to tread.” To meet such aspirations, to acquire sudden wealth, and to share in the established success of one or two famous claims so fortunately opened for the speculator, a means is found in the establishment of bubble companies. Tim thing is so easily done. A glittering prospectus, a claim (perhaps) indiscoverablo, a gullible puMio, sharp sharebrokers, and success often attends the attempt. Many foretell that “it is not a’l gold that glitters,” that a re-action will ensue, a crash will come, and they in'-an t> get out in time. It is a matter of perfect indifference whether they are mistaken in their calculation of tho right time or not ; but it is a matter of regret that tho re-action resulting from this wild and desperate throwing of the hazard for a prize does incalculable injury to the mining interest as well as the country. The money paid for scrip has found its way into the pockets of the keen speculator. It has not gone to the testing or opening up of the supposed valuable claim. For that purpose calls are necessary, and the deluded victim awakes reluctantly to the fact that he has purchased a pig in a poke. The end we all know. In the vortex that is made and succeeds the previous excitement claims that might have proved valuable become utterly neglected. No one will touch them. The mention of prospecting them excites expressions of disgust and discontent, The miner who believes, and probably truly, that he has discovered a claim that will eventually pay handsomely if he can only obtain the necessary capital to work it systematically for a period, finds all hi. hopes shattered and his efforts and discovery unappreciated. He leaves, inanger, aplaoe where worthless scrip seems to have had greater value with the public than tangible a res .It, and for years and years the blow that has been so severely felt that recovery is as painfully long. A few months of rash and insane speculation is followed by a decade of apathy and languor, from which the country suffers deeply. Has not this been the case with Otago and her reefs ? A few gained handsome returns while the mania lasted, but its deadly traces are yet visible everywhere. Auckland seems to have reached the highest fever point, and heat is cooling down. For the sake of the colony we hope her cris'3 will not be so severe as that which affected this province—that she may escape a fall ta zero in re-action. We have v not written these few observations without intending practically and locally to apply them. Evidences of a desire to force a new mining speculation era upon us are not wanting. The material is at hand in the shape of the reefs opened at Ben -igo Gully and elsewhere. Ready and willing to give every encouragement to any system, plan, nr company which has only for its object the development of our quartz resources, we shall, on the other hand, do all in our power to prevent the baneful system of establishing companies whose prospects are immaginary. We consider it a plain line of duty. Alaeady large prices are being given for shares in claims because they are on a supposed favorite line of reef. Here there is the germ of a vicious recommencement of share speculation. We hope what we have written tod ,y may not be like the seed that falls upon aiony ground. That, while the miner will find capital and assistance freely at his disposal for legitimate purposes, it will not be as freely at the command of the rash adventurer.