The Cure for Auckland's Depressior. GOLD: AND PLENTY OF IT.

Te Aroha News, Volume V, Issue 233, 17 December 1887, Page 5

The Cure for Auckland's Depressior. GOLD: AND PLENTY OF IT.

Mu J. H. WiTJir.roiiD gives hid opinion on the question of Auckland's gold deposits as follows: " Theic lies within easy reach of this community, dei)O.siU of gold of so rich and extensive a character that if we could devise some means wheicby their extraction could be made a national or public woik, the existing depression could be instantly removed, and instead of bad inne^ and scaicity of cash, there would be good times, and abundance of moiu j y in enculation. " (Jold is the world's inotfc fashionable product and the mo<-t eagerly sought mineial, as the iindcr or producer can obtain in exchange coin of the realm at the nearest bank, ior the utmost quantity he can supply." There are so many ways in which the development of the goldheldt, would benefit Auckland and the colony, that a brief, consideiation cannot iully deal with the subject. These benefits aic, however, knemn to us, and piobably the fii.vfc questions to decide would be : — (1) Is there leally puch an amount of gold to be obtained as would make the country pro^[)eioiib? (2) Could any practical scheme bo deviled w hich would enable the production of gold to be made a public woik ? The reply to the->e questions will bo foithcoming in due time. I beg now t oaf Him that the gold can, and should be got out. That it lies (millions of pounds worth) within gra^p, and we ought to as ail ourselves of the wealth a bountiful Pioxidence has pro\ided. Auckland is financially sick, and people ask despondently, " Where shall they lcok for relief?'' The enly answer is "The (Joldiields.'' We mu*t look up, not to a brazen serpent (if I may bo excused for using an Israeliti&h rclcionce), but to the golden panacea existing in the auriferous uinges which almost encircle this city. With such natural advantages ot position, soil, climate, and mineial products as we have, there should be no bad times in Auckland. The authorities express sympathy with those in distress, bur/ seem puzzled and bewildered to know what to do to alleviate their suffering! Were I the financial doctor I would prescribe "Gold " and plenty of it. At a recent meeting of scientific men in England, the following resolution was unanimously carried : "That this meeting is of opinion that the question of our. gold supply is of the most vital importance to the financial, trading, commeicial and industrial interest of the world, and that any means by which a continuous and permanent increase of gold can bo maintained is deserving of the consideration of all classes of society, as it will tend to relieve the present depiession of trade, and improve the condition of the working man." One the members of the society (Mr Cornish) referred to the gold industry as folloAvs : — "The great benefits derived from gold mining, or the production of "new gold," appears to~ me not to be so Avell understood as it should be. It has, I consider, become one of, if not the most important industry of the day. It creates new Avealth or purchasing power of a fixed value, taking the sovereign as a standard coin (the standard weight of the sovereign is 123*27447 grains, and of one half-sovereign 61 63723 giains, each contains eleven-twelfths fine gold and onetwelfth of alloy). It is the- diiect acting means of opening up new avenues of industry, which but for ib would not be known or required. Is has a similar effect on the finance, trade, and commerce of the world as steam has on locomotion. A>iy party of goldminers producing any given quantity of gold Jrom the earth does more real good to the community than do the business transactions of any similar body of men engaged in other operations, because the gold so raised by the miners becomes an addition to the working capital of the community by affording additional means of extending its credit and securing its liabilities. "^Nature's National Bank" of Issue (the gold mines) in all parts of the world invite customers to open accounts with her. This great bank honours the drafts of labour in hard cash, and does not close its doors when a run is made on its coffers. The depth of quartz lodes is not yet fathomed nor the ends of the leads of auriferous doposits yet found." This distant recognition of the value of our gold deposits should encourage us as a community to open an immediate aocounb with the Bank of (?old on the Thames and Coromandel Peninsula, and by keeping every able-bodied man at work extracting the precious metal, and supply ourselves with that wealth which is so much needed. Unreproducbive works of all kinds should be stopped ; and salaries now being paid to unnecessary officials of any unnecessary departments in the public service, should be devoted instead to reproductive gold mining operations Every effovt should be made at once to get out .gold from the auriferous ranges, and show ourselves independent of foreign aid. 1 Auckland Star.