GOLD.

Thames Guardian and Mining Record, Volume I, Issue 44, 27 November 1871, Page 3

GOLD.

Alr Albin Martin writes as follows to the J). S. Cross , of Saturday last: — Sir, —Goldmining and the introduction of foreign capital have raised the price of labor in this province to an extent which prevents its employment by the farmer or the manufacturer. Some writers ascribe the ruin of Spain to her gold and silver mines : the influx of these metals, raising the price of labor and manufactures, deprived the Spaniards of foreign markets, and also of their own. They were reduced, like ourselves, to purchase from strangers even the necessaries of life. The Gold Coast in Guinea has its name from the quantity of gold that is found there. Everyone is on the look-out for gold, and the people, like gamesters, despise every other occupation : they are accordingly lazy and poor. Their neighbors in the next kingdom, where there is no gold, are industrious and prosperous, deal in many branches of manufacture, and are most of them in good circumstances. It is lamentable to see this fine province of Auckland almost uncultivated and uninhabited. But so long as Captain Daldy and the commercial gentlemen of Auckland have their own way, and the interests of the goldfields are preferred before the interests of the fanners, the country districts of this province will not be peopled. The question of “ How is our present small community to keep faith with the public creditor ?” may, I think, force us to adopt measures which will be the means of colonising the country. We must either do this or submit quietly to the ruin of the province. Taxation has been compared to a monster, which, after devouring everything, devours itself at last. An American, speaking against opening a goldfield in one of the States, ! say?. “ For every dollar gained there will be ten dollars sunk. Do not be anxious to obtain gold. If we can obtain it by raising potatoes, wheat, &c., all right. Do not rush to make yourselves rich by speculating and dealing in shares. It would demoralise any community or nation on the earth to give them gold to their hearts’ content; it will ruin any nation. But give them coal and iron, good hard work, and plenty to eat, and good schools, and it will make them a happy, healthy, and wealthy people. One brilliantly successful mine excites hopes which are seldom gratified, and makes it easy to palm off certain spurious undertakings. The shareholders who have received large dividends in the one are foremost in subscribing for shares in tbs others : thus, in the long run. the gain is neutralised, and when too late many repent of their rashness and folly. Tlie moral is that mining everywhere, and under all circumstances, is a lottery.”