THE LONDON TIMES ON OTAGO.

Otago Daily Times, Issue 141, 29 April 1862, Page 5

THE LONDON TIMES ON OTAGO.

Til ij following is an extract from the Melbourne correspondence of the London Time*, under date December 2Ctli, . ;

The recent news from New Zealand has quite revived the "rush" thither. A couple of months ago no less than; 27 vessels, including five, or six large steamer.--, were advertised for, New .Zealand. * Many of those who "rushed" thither in Septeniber ; (9,oob), being utterly without moans, came back in, OctobiT and November, and by their accounts deterred others from going. , The press took advantage; of this reaction, and the consequence was that, when the last mail left, only the regular, steamers which haveloug traded to New Zealand were on the berths. Some; o the goldfield papers went so far as to assert that the gold brought from Otago had beeu taken from Victoria to Otago. Tlie Arym sent a correspondent there. His Utters are reasonably faithful, but with a decided color against the. prospects of the New Zealand goldfields. . His hypothesis is or was this — that gold is scattered in small quantities pretty generally, aud that it has found its way into Gabriel's tfully iv rather large quantities, but that it is not likely to be found in such quantities else where. There is, however, a strong probability that what has been found to exist in Gabriel's Gully will be found also in other gullies, narrow Tallies, between, the spurs of hilly ranges. This, I believe, wiil be fully verified, and it would not surprise me if New Zealand were to turn out to be a second edition of this country. No sooner bad the return of the disappointed checked the " rush," than the quantity of gold rapidly increased. Up to the 14th of November the escorts were only fortnightly. They were then despatched weekly. I have already given the progressive increase from fortnight to fortnight since July; and I now recapitulate and add the subsequent returns':- — Ounces.

The returns in my possession give all the above figures except that of the 23th of November. I add that to make up the total which is given. For the last six weeks it gives a weekly average, in round numbers, of 18,000 ozs. (correctly. 17,902). The weekly overage iv Victoria is under 33,000 ozs. . We have a population more than five times as large as the European population of New Zealand, with about the same proportion on the goldfields; so that all the phenomena exhibited in Victoria in 1854 aud 1855 are repeated in New Zealand in 18(51, and it would not surprise me if New Zealand should supply 1,000,000 ozs. in the year 1862; The effect of the^e accounts has been to place .some 12 or T4 vessels on the berth for New Zealand, including four large steamers. ■■•-..-> ..

From July 12 to September 18, inclusive ... 26,596 Escort arriving October 4 ... ... 12,4S2 Do. (.io. 18 ... ... 15,400 Do. November 1 ... ... 19,700 Do. do. 14 ... ... 35,100 Do. do. 21 ... ... 20,090 Do. do. 23 ... ... 18,347 Do- December 5 ... ... 14,535 ifi-> OKn 251