CROMWELL MINERS' ASSOCIATION.

Mount Ida Chronicle, Volume IV, Issue 250, 19 December 1873, Page 3

CROMWELL MINERS' ASSOCIATION.

At a meeting of the Cromwell Miners' Association, the ' Argus' tells us reduction in the price of gold was taken into consideration. A lengthy discussion, or rather conversation, for all - present were'of one mind upon the subject of/the injustice of the reduction, took place, and e\' resolution: warty-rived was, .de-.-

siraiMo t/.- fry pa;jie -plan of meeting .the c-nibiiiiigoii oiiiu.- Banks by some counter—ci.iiibiuiiti.yn on the part of the miners. The Secretary suggested one method, which was- finally agreed upon. The letter underneath, a copy of which was directed to be sent to each Association, will sufficiently explain the method without reporting the proceedings at length. The following is "the copy of letter alJuded to:—

Sib,—l am directed by this Association to bnnsr under your notice the combiuauou oi the banks, by wnich means they have reduced the price of gold to 75 5 :, beinjr actually less than was ever offered before (taking the reduced duty into consideration). The combination alluded to points to the possibility of a further reduction, should it appear that the miner accepts the present one without remonstrance. This matter, affecting, as i t does, the wages earnings of the miners, is well worthy the earnest consideration of your Association, and you are invited to suggest some plan to prevent the miners from being completely in the hands of combined banks.

While our Association will gladly consider any suggestion on this matter from you, we offer the following one for your opinion and consideration, viz.: That the miners by counter-combination through their Associations, pledge themselves to sell gold only to such one bank as may be determined upon by the united Associations. It is obvious that as each ot the banlcs requires gold urgently, such a stpp would, if properly carried out, compel the other banks (which would get no gold; iu offer au advance to obtain it when the compact would he immediately broken, and gold would find its proper valuj.— v.z, what it ls worth to a purchaser having regard to his individual requirements.

'•-But little real inconvenience will be lelt by the miners in adopting the plan suggested, and they will have the satisfaction to know that they have the power, by this one act, to at once and for ever break down a banking combination of which th. last ni.ive was only probably a preliminary attack. "You will please give the suggestion your early attention. and reply as early as possible.—l am, yours faithfully, '' CHAS. CoLCLOUGH, " Hon. Sec. Cromwell Association."