The Globe. FRIDAY, MARCH 10, 1876.

Globe, Volume V, Issue 539, 10 March 1876, Page 2

The Globe. FRIDAY, MARCH 10, 1876.

Yesteedat’s telegram from Hokitika is not only of importance to that city and the West Coast, but to the whole colony. If the news proves reliable, which we see no reason to doubt, there are prosperous times in store for the jcapital of Westland. Should the lode of silver ore be of a permanent character, knd the yield be anything approaching {the returns from the assays, a mining district will be opened up which will occupation for a large number of residents —and a Virginia City for New Zealand may possibly be the result. There is one portion of the intelligence which deserves more than a Casual reference : we allude to the applications for mining leases of 200 or 300 acres. These are large areas of land to be granted to individual rpiners, or companies with small capital, whilst too small an acreage does not offer sufficient inducement to prospectors. We should say that 100 acres would he a more reasonable number. There is then almost a certainty that a flood of mining scrip will be result, which will materially influence commercial transactions. We are not writing with the intention of discouraging investments, but we wish to point out that there is more to be looked after in mining concerns than the simple fact that the mineral mined for exists in payable quantities. The great object, to our mind, is to obtain competent and reliable managements, as well as mining managers who have a thorough acquaintance with the different appearances of the ore and the conditions under which it exists. It is absolutely necessary, as one of the primary considerations, that the manager should be practically experienced in the working of this particular class of mine. After the experience obtained from the mines of California, Australia, and the Thames, we would point out the desirability, of ascertaining, each one for himself, before venturing his money, that the foregoing auxiliaries to success in connection with mining enterprises hav[e been, at least to some extent, carried out. In referring to this matter, it will be well to hear in mind that, although the General Government assisted the Thames district to the! extent of about £50,000, it is highly improbable the Government

of the colony will authorise the expenditure of any considerable sums of money for a like purpose. We don’t hesitate to say that private means will have to be the source from which supplies must be drawn for the prospecting and ultimate development of this field. We have been long aware of the existence of silver and copper lodes on the West Coast, and we shall not experience a very great surprise, if at a not far distant date, we hear of additional discoveries of valuable mineral lodes.