COROMANDEL.

New Zealander, Volume XVIII, Issue 1721, 6 September 1862, Page 3

COROMANDEL.

If anything were needed to testify to the estimation in which this gold-field is held by the men who hare, through good report and evil report, so BtewWy persisted in developing its hidden wealth, it migflf be found in tbei? determination etUl to remain ftMtl WA«

chincry shall have arrived, and the test been fairly applied to the various reefs and lenders which have been found. It is perhaps an unfortunate circumstance that the vessel in which the machinery for Keven's reef.is now shipped, should touch at Otago; for it is more than probable that in the present excited state of Dunedin she may lose her crew, and that her arrival in Auckland may be thereby delayed. We are unable to sec why, with the exception of the boiler, the whole of the machinery might not as well have been cast and constructed in Auckland. It is believed that this plan would have been the more economical, and the quickest, as well as one which would have conduced more to the interest of our own artisans. This matter is worthy the attention of future com-

panies. It has been suggested that the more advisable plan would be to prove the richness of the quartz by sending one or more tons to Sydney to be crushed; but there is within the means of any one who chooses to set that matter at rest for himself, a more simple and inexpensive plan. There are lew diggers who could not, at an expense of from £2 to £4, rig up a rude lever machine of one stamper, by which two or three tons of quartz might be fairly tried, and as this expedient is so well known and is*so generally resorted to elsewhere, we wonder—if the reefs are really so rich as has been represented—that this course has not been pursued, and at any rate the richer portions crushed. We hear of companies being formed to work the reefs on Preece's Point, from which it is said that from a prospect of 14 lbs. ot quartz sent down to Mr. Cheeseman, a return at the rate of 19 ounces to the ton has been obtained. Had one or more tons been crushed by the rough process alluded to above, and such a prospect confirmed, how much more satisfctory would it not have been for a company so forming? or how long, wc may ask, would it be before our capitalists would bestir themselves, were the tact so clearly and satisfactorily ascertained, as it might be by the crushing of a ton or two of stone ?

Diggers complain of the absence of alluvial diggings saying that even if they find a reef they can do nothing with it, and that they are unable to call in the assistance ot capital. This difficulty can only he removed by adopting a system hy which it can be clearly proved that the speculation is a comparatively safe one. Our Auckland capitalists are not less capable of snuffing their prey afar off than are other capitalists; but it is true that they are not yet affected with that spirit of gambling which has made so many in Victoria engage recklessly in any project, however wild. It is no more than common prudence on their part to stand aloof from speculations so visionary as 10 or 20 ounces to the ton, where only a few pounds taken from the reefs have been assayed. Nor can a greater supinenesson the part of the diggers themselves be exhibited than in waiting for the machinery which has been sent for by the only really organised company, and which, for aught that can be said, may be months before it is in working order.