GOLD MINING IN VICTORIA.

Tuapeka Times, Volume III, Issue 213, 29 February 1872, Page 7

GOLD MINING IN VICTORIA.

The prospects of *he goldfiwlds of Victoria have materially improved dating the past year. Ballarat has not quite recovered its former prosperity, but during the past few months the aspect of affairs upon the metropolitan goldfield has materially improved, the yields has been steady and good, and every confidence is felt in its- future. The Sandhurst goldfield has been, most in favour during the last twelve months. A number of its mines have proved magnificent properties, giving yields far above, what was ever anticipated, and this produced an excitement such as was 1 scarcely ever pieviously witnessed upon any goldfield in the colony. The share market was thronged with speculators. The ordinary business hours were not sufficient for the sharesellers and the share-buyers, but the exciting trafficAeas pursued up to two and three o'clock in the morning. Shares that at one time were bought for 3d. each realised in some ipstances from £5 to £6, each, and it seemed almost impossible to place anything upon the market that was not immediately clutched at. •Of course it was , impossible for such a state of things to last, and the fev.er has materially cooled down, many of the incautious speculators having burned their fingers to a considerable extent. There is, however,a good future for the Bendigo district. A number of her mines are yielding splendidly, and there are scores of miles of auriferous reef as yet untouched. Business in the stock and share market has been good, and closes healthy, with good prospects for the present year. From the other goldfields of the colony th 3 intelligence is also of a favourable description. 'The average, number of miners engaged on the goldfields during the nine months ending the 30th of September last was 58,055, and; during that period the fotal yield of gold was 1,016,2440z., 519,854jz. of which was the produce of alluvial, and 496,3900z. the produce of quartz mines. The total quantity of Victorian gold exported from the colony during the past year, which may be taken as the approximate yield, was 1,404,0130z., as against 1,240,6210z., the quantity exported in 1870.—" Argus."