PRICE Of GOLD

Hokitika Guardian, 15 September 1920, Page 1

PRICE Of GOLD

MEETING AT RIMCJ. A public meeting was held at Rimu last evening convened for the purpose of considering what steps should be taken to ensure consideration being given to miners in reference to tlie price of gold. Mr E. A. Wells, M.C.C. for Rimu riding presided, there being also on the platform, the County Chairman, (Mr T. W. Bruce) and Messrs L. H. Morel and T. R. Chesterman M’sC.C. There was an attendance of upwards of forty present.

The Chairman in opening the meeting said it was called for the purpose of considering steps to be taken! to urge consideration being given to the gold producers, who had suffered as a result of the prohibition of the export of gold during th® war period. As a result of the embargo the miners had never' got more than £4 per oz for their gold, while the cost of timber and other essentials for working had increased by 75 to 100 per cent, at the least. These extra charges had to be borne by the gold producer, who had not got one penny more for their gold. He considered they had been badly treated and would bo glad to support any agitation that would result in giving them some measure of relief.

Mr T. W. Bruce (County Chairman) said though lie was not a miner, ho had had some 38 years of experience in mining in New Zealand, and he felt that of any class of men in the Dominion, the gold-miner had the first claim on their consideration. In connection with the present agitation lie urged them to evolve some practical method of relief that they could urge on the Government. The embargo of the export of gold was placed by regulation, and as a result the miner had suffered by not being able to get the full price for it like other people had been able to get for their commodities. They should make a firm demand for a rebate on each ounce of gold that had been won during the war period. He was glad to be present that evening and promised every possible assistance by himself, the County Council and its staff.

Mr Bruce gave figures of the gold yield showing in 1915 the gold produced was 121,082' ozs, of a value of £479,695; for 1916, 65,192 ozs, value £248,997; 1917, 56,223 ozs, value £219,960; 1918, 3707 ozs, value £9",474; 1919, 41,532, value £161,423. Mr A. O’Hallorari expressed his thanks to the County Chairman and Councillors for their attendance and offers of assistance. He thought the suggestion of Mr Bruce a good one. Ho thought anyone who could prove to have produced gold during the period of the embargo should be compensated. He pointed opt that Australian producers had got up to £6 15s 9d per oz. The cost of production had increased very considerably. There was an increase of 50 per cent, in Wages and a difference of 100 to 200 per cent, in the. cost of material. When It dwts. per load would-one time pay to block out', now it won’t pay to work. Mr A. Clifton said lie was pleased to see the active interest- of the visitors and the assistance given. The Government had starved mining for many years and since the war had started nothing had been dorte. While the Government had found markets for all sorts of produce they had shut . the market for gold. He hoped they Would receive 0 concession from the Government, and' to them they should look for redress for the loss they had been subjected to as a result of the embargo. 'The price of gold Was altogether below wha't it is in other countries.

In answer to a query by the County Chairman, Mr Clifton said he thought a rebate of 10s per oz would be a fair thing. Mr Redden thought that this was too low an amount in view of the price of gold in other countries. Dir O’Halloran said the minors would be content if they could get l'Os per oz on their output since 1914. Mr Rodden thought this amount too light.

Mr P. Webster asked if the Chairman could state what, profit the Government had made on the gold. Air Bruce said that was a question he was unable to answer. He- said he thought a request for 10s was a very reasonable one. Air Hodden pointed out that the Indian price for a sovereign was 255, which meant considerably more than a difference of 10s per on.

Mr H -A. Bn'ucke said they had no 1 knowledge of the actual gold price. Where there was secrecy maintained it was a sure sign that there was something to hide. He urged that all the gold-mining centres should be appealed to so that they could band together and go* carefully into every detail and be properly prepared before making their appeal to the Government.

After further desultory discussion, - Mr O’Halloran moved that Government be urged to compensate gold miners who produced and sold gold during the war period for the loss of value sustained through the passing of the Government measure prohibiting the' export of gold and thereby affecting the sale price in the world’s, markets. Seconded by Air ltodden and carried. Mr A Clifton then moved: That Government bo urged to consider the advisability of a forward policy to promote and develop the goldmining interests of the Dornnion, specially including an effort to prospect country favorably reported' upon geologically, and tlmt generally the fullest action be taken to probe the unrevealed mineral wealth of Pew Zealand in regard to the many rich deposits which arc believed to exist throughout the length and breadth of the country. Seconded by Air P. Webster and carried. Mr Bruce suggested that- a committee be set up to carry on the agitation to a successful issue by getting into communication with other alluvial centres.

This was agreed to and on the motion of Messrs Hodden and Willoughby, a committeo was set up Consisting of Messrs A. Clifton, P. Webster, A. O’Halloran, D. Kelly and J. Stoop jur. to carry out the suggestions. Mr Bruce promised every assistance, stating that the County Clerk (Mr Evans) who was present, would give tlio committee every possible assistance, as he did in all public matters; this statement being received with a round of applause. A hearty vote of thanks to the Chairman and the other councillors present for their attendance and support concluded the meeting.