THE PERPLEXING GOLD PUZZLE.

New Zealander, Volume 9, Issue 704, 12 January 1853, Page 3

THE PERPLEXING GOLD PUZZLE.

[Froni ih--' " Spectator," July 10.] The more information is throw n on the subject to the Australian Gold-fields, with its collateral questions, the more difficult is it to comprehend the whole of that complex subject in the grasp of a practical policy. The principal facts were plain enough, even before the production of the "further paper;" of the Blue Book, which arc analyzed in a subsequent page. A considerable tract of Australia consists of gold ore, more or less rich, with " washings" of uncommon productiveness, and " nuggets" in sufficient quantity to tempt the laziest of gold-finders. A population of 400,000, more or less, hitherto devoted to a few simple branches of rural industry or to the trades necessary to the comfort of rapidly-rising towns. A sudden rush perhaps of one-third of (he ablebodied men to dig eold leaving the settled parts short of hands for trade essential to the permanent prosperity of the whole continent, or even to the means of subsistence for the gold-finders themselves These [are the broad facts, as an historian might survey them . but when we look to the colonists, ! we find no purpose or plan of action correspond-

ing (o (he greatness of those facts; There is great movement, but it is without any definite direction or aim. On (he part of the Colonial Governments, (here is a keen perception of difficulties, and much active thought alter expedients for present relief; but no far-sighted view for the future, no plan of settled or permanent purpose: (he Legislatures have only half-power, the Executive Governments are enfeebled by dependence on the Colonial Office in England, and by imperfect sympathy with the colonists. We are struck with the sudden development of an enormous monetary power ; but nobody sees, at least nobody enounces, how it is to be applied. There is no concert between the colonists and their rulers, between the several Colonies, or between all the Colonies and the Mother-country. How fast (he stream of gold is to be drawn from Hs native bed—whether it is fo lie and fructify in comparatively stagnant fertility within the Australian continent itself, or to overflow —whether it is (o pour forth fo (lie world al large on all sides, or (o be directed mainly and primarily through (he channel of our own trade—nobody seems to consider. Wonders might be done, and many must perceive as much. The crying want seems to be the want of will, aggravated by a want of faith in (he will of others. The remedies suggested for the difficulty are as yet of the most sorry and superficial kind: a regiment of soldiers —a few Pensioners—a troop of Irish Constabulary—an immigration, no matter of what serf, or how distributed, or how regulated—this is ail which has yet appeared on the official surface. The difficulty centres in (he one question of labor : without labor capital is unproductive, and gold itself worthless. The mere infusion of labor, however, without direction, cannot cure (he evil consequences of discovering the native treasure, until some progress shall have been made in filling up all the. immense vacuities. Meanwhile, no thoughtful spectator can fail to perceive (hat the very exigence and extension of the class of gold-diggers creates a demand for an immense trade fo supply the wants of those gold-diggers, and to supply (he means of giving value lo their gold by conveying it into the market; and it must be quite possible (o devise measures which would impart confidence for investment and exertion in (hat auxiliary trade ; which might have (he further effect of rendering the gold more promptly and effectively available for (he metropolitan country. The whole subject is one of the most important of ihe questions that await the deliberation of the new Parliament: lo cope with it requires much political capacity.