GRADUAL FALLING OFF IN THE YIELD OF GOLD.

Kumara Times, Issue 2538, 9 August 1884, Page 3

GRADUAL FALLING OFF IN THE YIELD OF GOLD.

In his speech tq, the electors of the Dunstan district, Mr Vincent Pyke said :—“ The statistics published in the Gazette furnish the astounding information that in the last three years the yield of gold in New Zealand has diminished in a constant gradual ratio, which indicates something alarming. In 1880 the total yield was of- the value of £1,227,252. In 1883 it had fallen to £993,352. In the three years quoted the total falling off in the yield was £605,000. In Otago alone it was £275,000. Remember, these amounts represent not borrowed capital, but real available metallic capital, extracted from the soil. And then ask yourselves whether this great diminution in the production of local capital has had anything to do with the depression that exists. You know, as I do, that this decrease has not resulted because of the goldfields being worked out. We all know that they are yet awaiting development in this district, and that a wise, knowledgable, and competent administration of the Mines Department would do much in the way of restoring the prosperity which attended the gold-mining industry before its management fell into incapable and inefficient hands. Major Atkinson was right when he said that bad government was one of the causes of poverty. The mismanagement of the goldfields is a proof of it.”