GOLD MINING

Hokitika Guardian, 15 July 1930, Page 3

GOLD MINING

AN OTAGO MOVEMENT.

(By Telegraph—Per Press Association.!

DUNEDIN, July 14

Realising that a revival of the gold mining industry in the Dominion would l>e an immense advantage, not only to the Government, but also to the community, a number of local business men interested in gold production have recently discussed with the Otago and Southland Gold Mine Owners’ Association the question of evolving a meqns whereby the industry in New Zealand could be stimulated.

It was stressed at the meeting that the standard price of gold, which was fixed as far back as 1816, had remained unaltered ever since whereas since 1914 the prices of other commodities had risen to> an extent which meant that the value of gold had actually depreciated, and had remained at a price which made its production urireiriu iterative, and, in a number of cases, practically prohibitive.

In the past; •as pointed out, gold had been found in localities where it was easily won, but there were in New Zealand areas containing almost inexhaustible low grade gold-bearing) deposits, which, by modern methods, could be profitably worked if financial assistance were given to such ventures b v the Government.

Hi view of this, and also of the fact that a similar move was recently made in Australia, the meeting decided to go further into the question of representing to the Government the necessity for encouraging, Iby a bonus or otherwise, the exploiting of the vast gold resources of the Dominion.

When suitable proposals have been formulated, and duly considered, it is the intention of the interested parties'to approach the Government, and to lay their suggestions before it.