Te Aroha AND Ohinemuri News AND UPPER THAMES ADVOCATE. SATURDAY, JUNE 22, 1895.

Te Aroha News, Volume XI, Issue 1744, 22 June 1895, Page 2

Te Aroha AND Ohinemuri News AND UPPER THAMES ADVOCATE.

SATURDAY, JUNE 22, 1895.

* Thia aboye all —tothine own *elf bo brae, And it mnqb fallow ae the night the day Thou can Ft not then be false to any man. * . Shaickspeark.

We haveliad occasion at different times to refer to tlie increased interost in mining matters in this up-country district, and we welcome any scheme which maydend to the development of our natural resources or prove the value of our gold deposits. It must bo patent to all who reflect at all on the present state of the stock exchange that certainly not one half of the many claims which have been pegged "out will ever be worked, mucb more paydividends. In fact the men who are dealing in the scrip do, not hope to make their money out of dividends from the mines, but are contented to buy and sell and get gain without any honest attempt to work the claims. It is a debatable question whether or not the present boom will help us in the development of our mines and the permanent prosperity of the industry, we are inclined to think not, for when the excitement. begins to cool off and we again return to our normal state of j things, we shall be left worse off than ■when the boom visited us. The many (

“ duffers ” which have been floated in Auckland will make it difficult to obtain help when there is more reason to speculate in the legitimate work of mining. A correspondent to the Auckland S tar in a few well chosen sentences utters a note of warning to all speculators who are at present seized with the ruling passion of gambling with mining stock or reckless speculation. It says :—“ A word in season might save a number of heart breaks later on. People are speculating in shares who cannot afford it. and it is the duty of the press, to caution them. If it is allowed to go on' unchecked, we will have the Bankruptcy Court in full swing before very long, and it is rather hard that we who are refraining from speculating should suffer on account of these who are. Instead of paying legitimate claims they go upon Chance and risk our money. If they make anything they pay, our ai counts, but if they lose, it is we who will suffer. It is qtiite impossible that all the claims floated will turn up trumps ; they" have not done so in the past. All this excitement will end in smoke in a month or so, and the poor unfortunatesT'lKf' the end will suffer.” The way in which the business is at present conducted is a respectable method of gambling. Many of those most eager to amass wealth.on the Exchange would lift up their hands in holy horror at the thought of backing their opinion on a race-course, or putting a pound in a sweep. It is all one and the same thing, and is characteristic of the age in which we live.