EXPLOITING THE GOLD MINES.

Lyttelton Times, Volume CIII, Issue 12159, 24 March 1900, Page 2

EXPLOITING THE GOLD MINES.

TO THE EDITOR. Sir, —Zvfany of our politicians comjjlain that New Zealand acted unwisely in parting with the freehold of its lands. By doing so the unearned increment enabled speculators to become rich men at the expense of others. But are we not committing a more glaring evil now? The advent of improved dredges causes auriferous lands hitherto urp'orkable to pay handsomely. The speculator is once more on tho scene, and in a worse form than in the early days. All he does is to peg out' the gold-yielding lands of the colony, and secure what ha calls “options.” Having expended a few pounds in this manner the claim of himself and fellow syndicators is put on the market. They reserve to themselves about one-fourth of the shares fully paid up, and magnanimously offer the rest to- the public. When the company is floated at the expense of the paying shareholders the paid up shares at- once attain a market value. It is astonishing to find a Liberal Government allowing this wrong to bo done. If the lands of the colony belonged to the people of the oolony, surely the gold also is theirs. The interference of the Government is sadly in regard to what is now taking place on. the West- Coast and in Christchurch.—l am, etc., AN OLD MINER.