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Daily Telegraph (Napier), Issue 5211, 4 May 1888, Page 2

The mining revival in Australia, which, so far, gives promiso of good results in the nojar future, was bound to aid the industry in this colony. The success which has been achieved in Australia was bound to stimulate speculators here, nnd encourage them to thorough and systematic working of many mines in this colony. That, at least, was to be expected, but our gain lias been greater. Tho mining speculator who, in his own parlance, " strikes it rich," is of a restless disposition, ever longing for new fields and fresh developments. Success but stimulates him to fresh efforts elsewhere, and tho greater his luck th<? greater the desire to push on ahead. In this colony deop mining, as the term is understood elsewhore, has never boen tried, cither owing to the want of cnpital, or to the feeling of depression which wo have allowed to tako possession of us. Those who have had experienco in. deep sinking have found that the groat requisites aro capital and patience. Deep mines, where the indications warranted expending money freely —where the surface returns got wore good—were no more risky than shallow workings, and have proved equally profitable to the capitalist. At the Thames, for tho last two or three years, local enterprise has been dead; there was a lack of confidence with the result that the place, which has been made by mining, was going from bad to worse. Several of the claims, which in the old days gavo good returns, but which had never been prospected at any great depth, have been sold to Australian syndicates, men with largo capital, and men many of whom have made their money in mining. These men know tho obstacles they havo to ovorcome; they know that they will havo to wait for returns, but they havo that confidence which can only be got by previous successes, and their success will be eagerly waited for and watched by many, for if they succeed, it will stimulate our own colonists to develop other properties equally promising. Tho mining industry is one which, properly worked, does much for a community. Tho gold or silver found can only be got by judicious expenditure, which benefits the place locally, and which will re-act on the prosperity of the colony generally. The Thames, which may bo described of late as dead, will tako on a new lease of life, and prosperity, we hope, is once more in store for it. Our deepest mines aro but shallow workings when we compare them with the mines in Australia and America, and should the deeper workings turn out well, which there is no reason to doubt, muoh will be dono to wipe out tlie present depression. Tho policy is ouo of self reliance, , and that policy is the only ono likely to lift us out of our difficulties.