SYDNEY: THE MINING MANIA.

Thames Guardian and Mining Record, Volume I, Issue 147, 29 March 1872, Page 3

SYDNEY: THE MINING MANIA.

We cull the following items from yesterday’s Cross. They were supplied by their own correspondent in Sydney :

March 12,

“ The excitement caused by the general election is fast giving way to one of an intenser kind. The mining interest has during many years been gradually developed to such a degree of steadiness as to become a well-regulated industry ; but of late it has assumed quite another form, and to all appearances will do much mischief before it subsides. The number of mining companies that spring into existence is something very startling. Copper and tin have been added to the gold, and a speculation in one or the oilier daily comes to light. Very many sober-minded men firmly believe that one-half of them are concocted expressly to swindle the public. Some gentleman, probably suffering from the smart of some unwise venture, advertised a new scheme—“ The Bamboozle Gold, Tin. and Copper Mining Company,” whose offices were at the “Devil’s Chambers,Bottomless Pitt-street.” The note of warning which this prospectus humorously gave seeins to have caused men to look around them, and to inquire into the solidity of their speculations, whether they be “ bamboozle ” or otherwise. However it may be with the goldmining companies, there seems to be a steadily-growing impression tUt the copper and tin discoveries recently made will yield a rich harvest to tie je connected with them. The confidence in the . mines is immense, for. with one . the share lists have b- eu f” ■ me very day on which _• a ...es were formed. The Sydney Water Sitply. —A few days ago we were startled by a published statement of the Water Inspector that in five weeks, if no rain fell, the dams at Botany would l>e exhausted, and. Sydney would be without water. This statement has been repeatedly made, and yet no adequate stops have been taken to ensure a 1 .rger supply. On the present occasion tin- dry weather Ins be> n t<u. trifling to mention : we have had a copious supply of rain for three years ; but it seems to be forgotten that the demand for water rapidly increases from year to year, and when a drought indeed comes (which in the nature of things here it surely will), the consequences, in the present condition of the reservoir, will be too disastrous to contemplate. Such calamity, however, is not at preseut imDeuding, for heavy rain has set in.