THE VALUE OF GOLD.

Dunstan Times, Issue 625, 10 April 1874, Page 3

THE VALUE OF GOLD.

—0 Wo willingly ro-publi-h tlie following letter, addressed to the Editor of the Dully Times: - Sir,—During the [late agitation as to the ’low price paid for gold il y the hanks, waited upon the[various bank managers in Dunedin, with the view of inducing them to raise the price, which they subsequently (to a small extent) dpi My object m addressing this letter to you is to makepublic the information given me by the Manager of the Bank of Few South Wales as to the relative value of gold obtained in various localities within the Province. It is as follows Lawence, 2d more than Cromwell; ditto; Mount Ida, 10d. ditto ; Dunstan Creek, la. 7d. ditto ; Black’s, Is. 7d. ditto. From the above it will be observed that gold purchased at Cromwell is of the lowest value, and Dunstan Creek and Black’s (Dryhread) the highest. The price paid for gold is fixed by the lowest standard (Cromv ell), therefore mine"a obtain for their gold in other districts are getting far less for their gold, in proportion to its value, than they should, even admitting the present price is a fair one for the Cromwell gold. The Manager of the Bank of New South Wales, upon my pointing out this, (stated that he was quite willing and prepared to purchase gold by assay, it forwarded to the Dunedin office, where they have a complete assay stall'. Fending belter arrangements with the Melbourne Mint, I advise miners obtamingrgold'ofjthe highest standard to sell their guldjby assay. I am, &c., T. L. SHEPHERD. Dunedin, April 4