The Dunstan Times. FRIDAY, MARCH 7, 1873,

Dunstan Times, Issue 568, 7 March 1873, Page 2

The Dunstan Times.

FRIDAY, MARCH 7, 1873,

Beneath the Tlulcof Men entirely jtjst the pen is MIGHTIER than the sword.

The number of mining ci>mpahiesnow before the'public under the “ Limited Liability A ct,” point-, pretty oleaily to the fact of a leturn of confidence between labor and capital. At the present time there is evidently a strong ‘desire to embark in mining speculations by persons not immediately connected with, or resident on the gold-fields, and we hope that the good understanding now existing, will be mutually advantageous to all parties concerned. The days of rash speculation are over, and by this time we should have acquired sufficient experience flint, before entering upon any large undertaking, we might, with some degree of certainty, arrive at some conclusion as to tbe ul imate result. "Nothing can advance the interest of the gold-fiidds so much as a happy combination of labor and capital, the one is so necessary to the other, that separated, but little progress is po-siblo, Wc have passed the age of rash speculations, no extraordinary degree of uncertainty attends our present occupations, and whether it be dredging the Molynenx, quartz mining, or washing away (he soil to procure gold it is all the same,we have bought our experience and are enabled to turn previous losses to profitable account. A mining venture at the present moment can scarcely be considered a ventu-e at all—we know where the gold exists, and it is only a question of the best and readiest means to get at it—unaided by capital, the miner can do little by himself. the primitive days when gold was easdy obtaiuab'e are over, something more is required than a mere scratching of the surface. The precious metal has been gathered up to its storehouse, whether that be down in the cavernous depths of the rivers, immured in the deep tei races, tight!}' grasppd by the unyielding quartz reef, or as here tofore, loose in the alluvial soil, but utterly unreachable, because of the absence of water, so indispensable for the work of disintegration, combination must be resorted to overcome the difficulty, and this is considerably facilitated by the “ Mining Companies Limited Liability Act.” The immense results achieved in Victoria have been through similar means, and so certainly remunerative have many of the mining undertakings become, that capital freely finds its way into them. ' There are of course seasons of wild excitement, when opportunity is sought to float bubble companies, but they are quickly found out, audt heir promoter's seldom manage to secure many dupes. At the great goldfields of Ballarat or Bendigo almost everyone possesses a share in a mining and view their oue pound

Of five pound scrip in the light that, if not immediately valuable, they will become so at no distant day. Those living outside the gold-fields can very materially assist those within and inlirectly benefit themselves at the mine time, and to attain this end, all that is wanted is, sufficient confidence >n the part of investors that their money will be w : aely and legitimately ipplied to develop the proposed nn dercaking. Failure of course may occur, but then there is nothing without a certain degree of rhk ; this is a contingency, which attaches itself to all our actions, but when the best is done, and intentions honestly entered into, have been similarly carried out, although the end may not have been reached, whatever losr there may have been, is cheerfully bourne. Nothing venture, nothing get ” is an acknowledged truism, and when any legi'imate undertaking presents itse'f. if having the means, we do ourselves an injustice not to embrace it. Tin* whole of the Province is more or less interested in the success of the goldfields, and when our miners have proved themselves worthy of support, they are entitled to assistance. In JS'wrth America it is quite c >mmon for persons of humble means to to possess a sma 1 interest in a fishing or whaling venture, and we should like to S' e the same system pursnet here with regard to gold mining Why should not a th ire in a sluicing claim be regarded as equally secure as a share in a bank, water, or gas works It is quite possible for such to be the case It is only a want of confidence that prevents it. The c i-operation of capital ami labor has made great and rapid shades in Great Britain, it Ims been successfully .introduced in factoriesand worksnhps; employer and employee are alike interested and then an now very few undertakings in which the outside public may not participate. The three mining companies ad\ ei tried in our paper, and which it is des red to in'reduce 'o the public, are only large undertakings, the especial result <f previous experience and research, and which their present owners find themselves unable to carry on properly with the limited means at their disposal, they therefore ask the public to step i" and provide the neces sary assistance. The “ Alexandra Steam Dredge Company” is born of the occasion, and is the culmination of previous efforts. There is no want of precedent, a steam dredge already exists upon a small scuie. In no single instance has dredging the Molyncnx forgobl proved a failure; experience has unmistakably proved that nothing else is wanting but increased power, and more perfect means. The “Fourteen Mile Beach Gold Mining' Company” stands on a similar footing. Repeated trials of the stone have been made—all that is necessary is properly to get to work. The third undertaking, the “ Shower Terrace Gold Mining Company” is a gigantic undertaking, but when we find the present shareholders holding such a large interest as 16,000£, out of a 30,000£. risk, the legitimacy of the affair is assured at nice. Of the fabulous quantities of gold contained in the terraces of the Shotover, sufficient has been lately thown to establish their fame as the richest depositories of gold in New Zealand, and the large capital of this f -ompany sinks info in significance when compared with the astonishing results that have attended the working of these wonderful terraces. In all three instances the di rectories are composed of well-known local residents, men of ascertained probity, and who thoroughly understand the nature of the undertakings they have launched before the public. With such bona Jules to judge from, that degree of uncertainty which usually attaches itself to mining speculations has, for the greater part, been removed. »an