THE THAMES GOLDFIELD.

Westport Times, Volume III, Issue 574, 30 October 1869, Page 2

THE THAMES GOLDFIELD.

(from a correspondent.) Auckland, Oct. 20. We are on the eve of a crisis up here. Everybody who had a little money speculated in shares, and pre missory notes were the order of the day, in the hope that scrip would go up to a fabulous price—all prizes and no blanks. But, alas, there is no gold coming from the Thames Goldfields, or nothing in proportion to the capital and labor invested. For what is 29,450 ounces, value £85,421, the proceeds of three months, representing 600 companies, with a money value of £2,480,000 in scrip. There cannot be less than 20,000 persons on the Thames, not living, but barely existing. The consequence is that scrip is down to nothing, and some of the best claims, instead of paying dividends, are mat ing calls—such as the Junction and others. To pay working expenses, to get rid of liabilities is the order of the day. Out-side claims are quite unsaleable, while scrip in the Eureka are 10s, Pride of Karaka 18s, Kelly's 20s, Shotover 225, Junction £5, Long Drive £IOO, City of Glasgow £6, Thames Gold Mining Company £l3. Many of these scrip sold for as many pounds as they are now selling for shillings, simply and solely arising from the fact that there is not the gold coming from the mines. It is quite painful to see the numbers of men, from different parts, walking about doing nothing. Wages on the mines are from £1 16s to £2 per week; living for a miner £1 per week, although hundreds are living on tea and what they can catch. I enclose an extract from a report of a meeting of the City Board, so that you may publish with this letter the rate of wages given by the City Board. It may give some idea of the rate of wages in Auckland : EISE OF WAOES. Mr Stains presented a petition from two servants of the Board, named William M and James Doull, praying that the prca«A high prices should be cousidered with a Tie* to some rise in their wages. He said these were honest, hardworking, and sober men, and deserved some consideration at the hands of the Board. The Board had already risen the wages of others of their servants. Mr Walker thought the men deserved a small advance. He would recommend an advance of sixpence a day. A motion to advance the wages of Bell, Doull, and Cousins from is to -is 6d a day was agreed to.