The Dunstan Times. FRIDAY, MARCH 8, 1872.

Dunstan Times, Issue 516, 8 March 1872, Page 2

The Dunstan Times.

FRIDAY, MARCH 8, 1872.

Beneath the Utile of Man e >m ke ly j ust the pen is .mightier than the SWORD

Frequent mention has been made cf Jate of the desirability for renewed efforts to thoroughly prospect the Dunstan Flat for deep leads of gold, which, according to all known possibilities of theory and practice, must exist therein. The idea is not of that vague or chimerical character so often the attribute of mining projects foisted on the public by specious promises and plausible assertions, made for the one ulterior purpose of assisting the ingenious promoters to rid their selves of mining property of doubtful value —smart transactions, profitable to the few, but sapping the foundations of commercial faith, and accountable, in no slight measure, for the unwillingness at present manifested by the oft deluded public to invest in mining speculations. On the contrary, the prospecting of the Dunstan Flat re commends itself as an undertaking of which the ultimate successful issue is well nigh assured. It would be unwise to attempt to disguise the fact that any proposed scheme for this purpose which doe« not provide for the contingencies of heavy preliminary outlay and many probable discouragements, will not bo worthy of public confidence—partial and ill-defined attempts having already resulted in failure—but it does not of necessity follow that, because shareholders may be warned at the outset to be prepared to meet frequent “ calls,” and also to patiently wait for “dividends,” that any insurmountable obstacles will arise, -either to prevent the successful floating of a joint-stock company, or, thereafter, to prevent the enterprise resulting in profitable fruition. The certainty of ultimate heavy returns should counterbalance the feeling in favor of investments realising small but .immediate percentage on capital. For it must be taken into account that investments in mining shares,

when now made, cease to partake of that reckless tendency too palpably displayed in the early days of the goldfields, when men invested their loose oash or redundant capital m mining “specs” with as little forethought or systematic calculation as the majority now exercise in their recreative transactions on the chances of a horse-race. Men then lived and traded recklessly; hut now, settled in homes of their own upbuilding, and accepting their responsibilities as colonists, they have more defined views, and work steadily’ for some set purpose. If they invest in mining ventures, it is with the same Ante nt as they insure their lives, subscribe to building societies, or purchase freehold property—making thrifty provision for the future. To foster a desire for the possession of mining property of tssured value, to re-awaken a 'confi dence in legitimate gold-fields’ speculation, is but to aid in the expansion of the inexhaustible resources of the province, and-the consequent increasing prosperity of t e whole community, fulfilling, in fact, the work of true colonisation. But, apart from this consideration, and looking at the subject now under consideration from a purely commercial point of view, any well-devised plan for gold-mining on the Bunstan Flat should speedily win public approval and support. Assuming as a fact the existence of deep leads, it needs’ no prophet to predict that the first successful effort to strike gold would be the signal for the pegging oft’ of scores of claims, and the instant oongiegation thereon of a little army of workers. Shares in the prospectors’’Maim would realise a hundredfold on preliminary outlay, and, as an investment,'would stand first in the list of popnlai speculations. It needs but the exercise ot some little forethought in the adoption of a judiciously devised plan of action to accomplish this desirable consummation. What difficulties there may be to encounter wou’d all vanish before ordinary mining skill ami energy, and the chances of success more than counterbalance the probabilities of failure Initiatory action, as a matter of course, devolves on those most interested in the success of the project—the people of the Dunstan District. Not an’individual baving’tho slightest stake in the district should hesitate in bestirring himself in this matter. It is not I enough to console ourselves with the idea that business is no worse than it was twelve months ago, that wo are not worse oft’than our neighbors, that tilings must soon take a turn for the better, and suck like se’f-complacent babble. We need to make times infinitely better, to reawaken longslurabering energies, to impress the people and the rulers of the province that we are earnest in the matter; and, by our very earnestness, induce them to joiu'us in the search for treasures wasting under our feet. Action —prompt, unwavering, effective,—is the one thing essential, and the result need not be shadowed with any dim forebodings. It is hardly within the scope and purpose of a newspaper article to suggest any definite mode of procedure. It is sufficient to indicate the advisability ot action, the convening of preliminary public meetings, the devising and .careful consideration of plans of operation, and the ultimate floating of a joiut-stcck company upon some liberal and trustworthy basis. All this we hope soon’to chronicle.