THE £10,000 LOAN FOR PROSPECTING.

Thames Star, Volume VII, Issue 2617, 29 May 1877, Page 2

THE £10,000 LOAN FOR PROSPECTING.

(To the Editor of the EvßNiira Stab.) Sib,—l have been waiting some time expecting some one to hare a say about the ten thousand pounds borrowed upon tho securities of.the Pumping Association to prospect their ground with. By your permission I should like to hare a say about it:—ln a late'issue of your paper you very properly a^k the question—if the prospecting for gold be a failure what then? As there are two misses for one hit this should be always taken into consideration. But suppose we look upon it iv the most favourable light, that there is a success in striking payable gold, what better will we be for that? We shall only then get back by small percentage the money laid out—that is our only . chance' if there be a success ; but how shall we be if it be a failure, and the bank could only get their ten thousand for th» securities; what shall we get for the expense of working the ' Big Pump iwo, years P We might ask another question, ,-wbat right have the councillors to take the miners' money to "prospect private^^ ground with? Hare they.'got a divTnll^* right to do contrary to the wishes of the men that the gold. Self and partners hare been prospecting ground for above half-a-year; should we get gold, would it be just to take' some of _our gold to prospect rich men's ground with ? What can our smooth tongued councillors say to this? I suppose they are dumb, and lay themselves open to suspicion that they are not men of integrity, and men holding their honorable positions ought at least to be honest; but, unfortunately, men creep into office and power that .excel in no one thing but scheming, and tbfeyare well practised in that. Our Councillors are far too wise men and agree too well; things generally are far too sweet. Did not the Advertiser put in a big. lamp of sugar this morning in its leading article ? If that does not make them sick they do like it sweet. If I was to give them & bit of my mind I should say that they acted like a lot of little boys doing the bidding of one rich man of two outside, and if they did not they might get a whipping, and some of them turned oat of their billets. They ought to be reminded that the reckoning day is coming, and they will have to account to those who gave them their power why they allowed ten thousand pounds of public money to be spent on private property.—* I am, &c, J. Hobn. Upper Albert street, May 28th, 77.