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Wairarapa Times-Age, 7 September 1940, Page 7

In the Middle Ages the search for gold and treasure prompted the voyages leading to the discovery of America. All Europe was stirred by the newly found wealth of gold and silver in Mexico and Peru. In the first half of the last century there were the gold discoveries of California and later still the discoveries in Bendigo and Ballarat. If we may digress here, states an exchange, we would like to point out that, at about this time, there was such a large output of gold that the economists of that day suggested that gold should be demonetised, because the abundance of the metal was forcing up the prices of commodities. In other words gold was cheap, and that it was cheap was proved by the fact that a racehorse was shod with gold shoes for a race.