GOLD CIRCULAR.

New Zealander, Volume 7, Issue 573, 11 October 1851, Page 2

GOLD CIRCULAR.

Unmistakoable evidence lias letched town during the week of the exigence of gold m the dwtnct o) Br.ni)wood. A very fine lample weighing twenty-five onnces, oi a character luperiur to any yet pioduced, IMb been toisvauled by llnyli Wallace, Esq. -it is tiuly goUi dust, and that of . veiy rich quality. The diggings have been called " Aialuen," theie aie about 200 men at-wmk, and doing well; the gold, however, is 10 hue that a considei.ible quantity must be Jo&t by the piesent mode ot opelation wuli the common ciadle. The nuneis are working in the bed of the cieck, in about two or tlnee feet of walei; and pro visioni aie supplied by Mi. Badgeiy at a modulate rate. Out news lioin Ihe Tnron is still good; thousands ot human beinga die coiigtegiting on its mountains and cieeks, ami although npany are not uinm" thai salt, jet the multitude die luccvssluh Mm

disluMittMicil ami disippointed aie to be engaged there for Jss to atu per wtcU , but (lien. nutanuo must be in the minority, il» we cannot have b( tt ( i pioof ot the success ot the mass than the tact tli.it cvciy week the quantitN ot gold sent tv town increases, .nut while thu lo.id to the mines is tlnonged wilh ti.ucllers up, it is onlj lioie ,iii(l theie jou can discover a stray tiaveller coming ilo\mi. Mi. Smith a lesDecl.ibk bakei on Biickfield-hill, rctnrned lnuiie yestenlay morning with his pockets well lined, alter an absence (it only seven weeks he lull hydnty with a [Uity of se\en on the 7tli Align t, and on reaching theTuion commenced woikmg on ilic bed oi the mci, but ihe water diove them out; they then stUded a spot about 70 teet up liom the rivei,on tlic immntain at Monday Point, opposite the junction of Oakcy Cteek with the 'luion, and set to woik in good earnest where others had Hied, but trom the labom requirtd had lelt in search ol a mo>e pliable soil. They labouied for a fortnight, removing soil fimn thu rock, which slanted towaids the river, and did no good; but on working into the mountain ihey found the lock, dipped in the opposite dnection, and hem their success commenced. For seMial days they obtained 12, 1-1, 10, 18, and 24 ounces pel day, and on last Satmday loitnight they took out 93 ounces In fise <la>s of last week they made 180 ounces, and on Siluidaj hat sold their claim to Mi. Travels for £700. The soil itself was exceedingly haid, and burnt like ironstone, and wa» found so itch at about 'i 5 teet below the uuiface. Mr. Smith's opinion is that the mountains ire full of gold, and that there it sulltcieut to Jpiovule a good living toi all who choose to woik foi the iie\t centmy; he letuius in a fortnight. Many otheis, among whom may be mentioned Mi Went, Mr. Bl.ikefii.ld, and Mi. Smyth, arc also doing woudeis on the Tmon. The Uphir diggings aie again coming into notice— the water has subsidid sufficiently to enable the miners to woik. and many arc letnrnintj to then old spots who had lett tn search of better. A nugget ol 4.5 ounces hm been found on this cicck since our List. Om sister colony, Victoiia, can also now congratulate herj<^^ on the possession of a gold field. By the oveiland mail >esle'^W day lettus weie received in town announcing the discovery of the piecious metal in sufficient quantities to pay for working. The divings have been named the "Ballarat," and are in the neighbuuihood of liunninyong. Upwaids of 3')o persons were on the spot doing well, and as many moie on their way fioin Melbourne ami (jeelong The leceipt ot C.WOII worth ot gold in Melbourne tiom " Ballarit" is a sufficient proof (hat there is something in it. The pioilnrc of oui own mines has beon greater than au^ pievious week. The cscoit bi ought down Sb 44 onnce* and the lost about 1200, making 7044 ounces, in value about £'«,S9.{. The quantity of bills ofimug has reduced the Exchange anothei 1 per cent., and the price ol gold is affected accordingly. Mo<<t ot the pmchases have been made at UN Mi ; but in consequence ot two oi thiee huge bujcis going out of the maiket it tell yesti'iday to GJs. at which pi ice several lots were sold. With such intelligence as we now communicate theie can bo no doubt that a gi.itid eia is opening up toi live- colony. So far from om mines becomiii!; evhaiistcd they aie proving more rich. And when we look at California, and remember that it tun only ptoduced one million and a halt sterling per annum, and that we ' ill. ill in all piobability exceed (hat in our fust j ear's expoit, it is impossible to Joietel what lies betoie in. There are croakers in the camp who would peisuadc us that the colony is on the verge of nun ; but before they ran do so they must solve the problem how a community that is rapidly iuei easing in weMth from the produce ot the country, can, at the same time be giowiLg pool. Om pastoial and agiicultural inteiests may soflei — tude in our city may be, and is, stignant-but these difficulties can only be temporary. Immigration by thousands will soon put the foimer light, and money in both pockets will speedily be brought tv bear upon the lattei ; and provided men are not tn.ul enough ti> injure themselves and us, by heavy shipments of goods to au alieady ciowcled inaikct, we shall soon find that the wheel has hi men in our favour and a prosperous trade is setting in upon us. Let men be wise and not speculate, and let our Banks pursue a hbeial and enlightened policy with tespect to their exchanges and advances, so that the great pastoral interests of the land aie not unduly depie-sed while the golden interests are tostcied, and all will be well. We have capital and mercantile cvponeii''" sumcient to compass all that can be required, if it i» iiijhiiy appiopnated; and let it not be said that by our own «" we invoke the axloffoieign capital to accomplish what we, with a litdc moic wisdom, could have done ourselves). Total gold shipped to this date, £132,664 4s. 9d. Exchange on London — Diafts against gold, 5 per cent. <Hicount. Freight— J per cent GeoiiGx A. Lxom 474, Geoige-street, 27th September.