The Evening Star. PUBLISHED DAILY AT FOUR P.M. Resurrexi. TUESDAY, AUGUST 11, 1885.

Thames Star, Volume XVII, Issue 5169, 11 August 1885, Page 2

The Evening Star. PUBLISHED DAILY AT FOUR P.M. Resurrexi. TUESDAY, AUGUST 11, 1885.

The Auckland Herald bas—prompted by a conscientious and righteous spirit, no doubt —taken up the cudgels on behalf of the public in connection with rash speculation, and in a few lines yesterday it pointed out the folly, of indulging in " booms" on scrip and similarly absurd behaviour. Toe Herald is certainly travelling within very safe lines, and treading over perfectly solid ground, when it warns its numerous readers against injudicious investments; in such a case its arguments are incontrovertible, and its premises indisputable, but its assertions are very vague indeed. What a pity it is that the idea didn't strike it some time before it helped very materially to bring this " boom " about. Many days ago we issued a note of caution to the people regarding over indulgence in the matter we now have under review, and pointing out the ultimate danger likely to arise from rash« ness, on the part of those engaging in share transactions. While we were issuing words of caution the Herald and other journals were—we do not attempt to judge their motives—indulging in farragoes of praise in a most extravagant way. There is no reason however,—at least none that we can see — for our contemporary to so completely " drop its chin " as it did yesterday. It is very much more than probable that to the strength of the present legitimate prosperity of, and satisfactory finds in, certain mines, much of the present mild excitement is due; the prospect of the newly introduced processes of gold saving garnering in more of the auriferous harvest has also doubtless added a little to it, but it is somewhat late in the day for the leading provincial paper to opeß up on » subject which its utterances have, to a great extent, helped to create. There have been, very possibly, many advantages taken of the spirit displayed during the past week or two to plunge somewhat irrationally in mining ; a few " duffers " in mining parlance have seen the light, and it .is very much more than likely that others will establieh a footing, but the fact still remains that a considerable impetus has been given to the field by the operations of the gold-saving processes we have referred, to, and not only the ads vancement in market rates that has taken place, but the attention that has been directed to the district are by no means foundationless. We certainly pointed out that a second " Sonny Corner" might not exist amongst us, and we would express confidently the hope that a new era is dawning upon the district, but while holding the view that rash speculation will have a most disastrous effect on the district, we must insist that there is a good foundation for the present activity in the share market.