Waihi Mine Not Closing

Grey River Argus, 12 November 1949, Page 5

Waihi Mine Not Closing

TAURANGA, November 11. Mr F. W. Doidge, Nationalist candidate, addressed 500 at Waihi. He said: “The Government throughout the campaign has been telling the people how much it has done for all sections of the community. In the light of their own experience, those who live in Waihi will find it difficult to accept the Government’s claim at its face value. I have no intention of making political capital out of the •Government’s attitude to the gold mining industry. I claim that this is an occasion when I have a right to recall the narrow escape that the mine and the town have had, and to give a dispassionate picture of the attitude the Government adopted during that oeriod of crisis”. He sMd he raised the question in August of last year to Parliament. In the budget. Mi' Nash announced the removal of the gold tax, and at the same time removed the exchange rate. The benefit from the abolition of the gold tax was completely wiped out by the alteration in the exchange rate. He (Mr Fridge) had pointed out that the loss of the 2b per cent, exchange would kill the mine, and deal a heavy blow to the town of Waihi itself.

He said that the rise of the overseas price of gold has saved Waihi and saved the industry from extinction.