AUCKLAND.

Hawke's Bay Times, Volume 17, Issue 1034, 5 June 1871, Page 2

AUCKLAND.

[fbom otjk own cobbesp..indent.] May 30, 1871. Auckland has been suffering from an epidemic called scrip fever, for several weeks past. It is probable that it attained its climax last week. It rests on this foundation : the Caledonian mine has yielded an extraordinary amount of gold during the current half year, and especially the last six weeks; consequently Caledonian scrip has gone up to £2OO from suy £IOO about six weeks ago, and under £lO six months ago. But the rest of the field is only blown up by jobbers in. scrip. Two years ago we had a similar fever, and the result was ruin to many, and serious loss to hundreds. That attack was mainly due to the handsome yields fr./m the Gulden Crown and the Long Drive. In July, 18G9, or thereabout, Long Drives Were saleable at and over £2OO ; from then to about Jauuary, 1871, all scrip went down, and for a time scarcely any scrip was marketable at any price. Long Drives could be bought at less than £lO, Caledonian were given away (to avoid paying culls), and Shotovers (nominally £10) could be got at 2s Gd. Gulden Crown scrip being in few hands, and nominally <£l 000, was rarely transferred, but was probably purchaseable at about £2OO. Now, under tho influence of newspaper puffery aud market rigging, scrip in mines which don't pay vvoikiug expenses is quoted at prices that mean £2O,UUQ, £40,000, or £OO,OOO for the whole mine 1 Fortunes have been made by the rise ; who will benefit by the fall ? Our mines are extraordinary in more ways than one; but their chief characteristic is the fact that the principal yield has hitherto been, and still is, from one or two crack claims; at first the Shotover yielded the bulk of the gold; then the Manukau, Long Drive, aud Golden Crown, successively swelled the returns ; lately all these have been in the shade, their yield comparatively small, and the Caledonian supplies ihe meaus to sustain the character of the field ; without the Caledonians gold the export would be miserably small. Politically, little doing, but that little mainly composed of attacks on the Superintendent. Both our morning papers are controlled by opponents of Mr Gillies, and in both his conduct has been sharply criticised, bwth in the correspondence and editorial columns, it is assumed that Mr Gillies and his executive don't agree on all points, which is not surprising, seeing that of three members of the executive, two were thorough-going opponents of Mr Gillies at his election, and would probably be so aoalu if another contest was imminent; and prohabiy three-l'eurths of the employee.

of the Provincial Government owe their positions either directly or indirectly to the late Superintendent, Mr John Williamson. No government can with impunity allow its bitterest opponents to occupy positions under it, —where by forestalling explanations, by breaches of-con-fidence, and by exposure of government plans, the government cannot fail to sustain injury. Mr Gillies has probably found this out by this time, His opponents know, or rather obtain a version, of what, takes place in the Executive offices, before his friends ! The opposition press can even discuss and comment on decisions of the Provincial Executive, before Mr Gillies has even signified his approval or disapproval of their views ! The usual extraordinary (pardon the apparent contradiction) disclosures of the manner in which some persons do business in Auckland have been duly given at the Supreme Court in bankruptcy cases. Three or four libel cases have been talked of, but probably only one will really come before the Supreme Court at the ensuing silting. Our expensive Supreme Courthouse is undergoing some alterations with a view to making it habitable. The roof especially was so faulty that in wet weather it was unbearable. The proposed Auckland and Waikato Railway is about the same stage as it was a year ago, only a littie more money has been spent in engineering, &o. The proposed railway between the Waiiemata and K «i-------para harbors is in abeyance, tiie provincial Act on the subject having been disallowed by the Governor, It is very doubtful whether its utility is sufficient to justify its costs. Auckland has advanced from the rank of a city to that of a borough, and now boasts possession of a Mayor and town councillors.