DECLINE IN THE YIELD OF GOLD IN VICTORIA.

Grey River Argus, Volume XV, Issue 1819, 4 June 1874, Page 3

DECLINE IN THE YIELD OF GOLD IN VICTORIA.

(Melbourne leader.] A glance at the newspapers published upon the p old-fields - is sufficient to show that the mining interest is just now going through a season of depression. The aspect must, indeed, be gloomy, when in a district like Sandhurst a proposal is made that the Government should grant bonuses to companies sinking prospecting shafts on such lines of reefs as the New Chum, Garden Gully, and Hustler's. Ballarat is in a far worse plight than Bendigo, and the same cry of depression is raised from , Stawell, Chines, and the other mining, townships. The hordes of brokers, jobbers, and speculators who thronged the Verandah in Melbourne, the Beehive at Sandhurst, and the Corner at Ballarat, haye 1 taken to more productive pursuits ; and the crowds of idlers who gained a handsome livelihood by promoting mining companies are now compelled to adopt less lucrative if not more reputable modes of procuring a living. An examination of the statistics published by the Mining Department will show that the, amount of smoke is out of all proportion to the extent of fire. The adoptioa all over the colony of a more economical mode .of working has thrown many hundreds of mining and legal managers and officials out of employment; while the discovery by the public that speculating, or even investing, in shares, is a game at which outsiders are tolerably sure to lose, has almost destroyed the occupation of the stock- jobbing fraternity. But legitimate mining is ir> a far better condition than would be imagined from the Ceremiads of the croakers. - A return of the gold exported during the quarter, which fended on the last day of March shows a -considerable falling off as compared with previous years. But the difference is to a very great extent made up by the Victorian gold received at the mint during 1 the same period. In the first quarter of 1872, at which date themint was not in operation, 398, 131 oz of gold were shipped. In the- corresponding period of 1873 the exports had diminished to 367,1590z, but 15,8820z of Victorian gold were received at the mint, showing the total produce to be 383,041 oz. In the first quarter, of the present year only 281,3650z were shippad, but 70,6460z were minted, bring up the total to 351,911 ' ounces. The reduction in the yield of gold is almost, exactly proportionate to the smaller number of' persons now engaged in mining. In 1858,' befdre improved legislation had enabled the people to turn their attention to agriculture and manufactures, the number of diggers, European and Chinese, was returned at 181,031. In 1872 the muster roll had fallen to 62,965 ; in 1873 it had diminished still further to 50,695 ; and at the present time there are only 35,235 European and 12,934 Chinese miners on the gold-fields of Victoria. The decline is principally amongst the alluvial miners, of whom there are now 19,830 European and 32,845 Chinese, who last quarter only raised 105,5560 aof gold, while. 15,905 European and 89 Chinese quart?; miners earned 157. ,588oz. A comparison of the mining statistics from 1858 to . the i present date points to the. conclusion that the days of alluvial mining are numbered. The old mines are being gradually worked out, and no new ground is discovered to supply their place. In the district of Ballarat, the head-quarters of gold 'Washing as opposed to quartzcrUßhit)gy therd ; were in 1858 16,559 miners; there are at the present time only 5522, the larger number of whom are, Chinese. But all authorities are agreed that quarts mining is only in its infancy, and that the gradual extension of improved appliances and more powerful machinery will enable claims hitherto valueless to be worked to advantage.

'We learn from the Daily Telegraph that the; General Government has authorised the expenditure of LIOOO for the erection of immigrants' cottages at Napier. ; This grant .is to be repaid in instalments which, will be met by the rents to be charged the occupiers of the cottages. Dwelling-house accommoda* tion is getting more scarce; every day in the. town,.. and. applications have actually been made to the Government for tents. It is intended to erect an Immigrants' Depot at Waipawa j such a building will greatly relieve the pressure put upon the Napier barracks ori the arrival of each emigrant