GOLD DREDGING IN OTAGO.
(per peess association.)
Dcnedin, April 2C,
The Otago Daily Times devotes a leading article to the unsatisfactory position of the dredging industry. It says the causes of the present depression are not far to seek, insisting that the public are reaping the reward of their blind haste during a period of undue inflation. Time and again they were warned, apparently in vain, that careless investment would inevitably produce a crop of bitter disappointment. The unseemly haste with which dredging claims were being foisted upon a too eager public —who seem to have been carried away in the heat of gold fever, and who put their money into anything and everything cracked up by misleading reports and glowing accounts of prospective richness —was bound to lead to disaster sooner or later. Some fifty dredges win between £SOOO and £6OOO worth of precious metal weekly, which is a very satisfactory result indeed, and proves, if further proof were needed, that the gold dredging industry has a. bright future before it if only it is conducted upon ordinary commercial lines, and not upon gambling principles, which always proved ruinous to mining enterprise.
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Greymouth Evening Star, Volume XXXI, 27 April 1901, Page 3
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193GOLD DREDGING IN OTAGO. Greymouth Evening Star, Volume XXXI, 27 April 1901, Page 3
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