THE WAITOA

Waikato Times, Volume XXX, Issue 2421, 17 January 1888, Page 2

THE WAITOA

Thk Clii'istr.hurch Telegraph of January ■Ith, says ; —Tne Waitoa gold field has advanced another stage. Mr J. B. Smith has now come to the conclusion that his laud does not contain as much trold as he uneethoughtitdid. That is nodonbt very disappointing to him, and .stubborn indeed must have been tlie facts which forced hint to such a conclusion. This morning the Auckland telegrams inform us that Mr Smith is offering by way of reward the sum of £1.00 for the conviction of the person who " salted " the test parcels of stuff taken from the Waitoa goldfields. That is news which will make the hearts of Christchurcll shareholders who lost their money in the business rejoice. The consolation which they must be thirsting for is to know who "* salted '' the samples and lead Air Smith to come down to Christchurch and magnanimously offer to share lii.s good fortrne with the public and practically to deny it to those who lived in the neighbourhood of the find upon which the "stulf" was found in such abundance. As Mr Smith was unwittingly the cause of some loss to the Christchurch public, the latter will be glad to see that he is attempting in a small way to repair his unintentional wrong by seeking to pnnish the man who made a victim of Mr Smith, and, indirectly, of a number of our speculating citizens. In order that the reparation should be complete, one step more should be taken. We do not think that it isexactly in accordance with any system of ethics with which we are acquainted that money should be made out of speculations of the class of the Waitoa goldfields disci, very There was, ifc seems, no gold in the land, and the company was the outcome of a deception practised upon Mr Smith. What the legal aspect of the case may bo, we do not know, but viewed in the light of commercial morality, there is but one course open to the promoters of the company, and that is to return the shareholders' money. When that is done, and the man who " salted" the mine discovered and punished, a step in t.he direction of substantial justice will have been taken.