EXPLOITING THE CAPITALIST

New Zealand Times, Volume LXXI, Issue 4288, 22 February 1901, Page 4

EXPLOITING THE CAPITALIST

That particular branch ol the go Id-min-ing industry which concern:', itself with the extraction of the yellow metal from Die pockets of investors without at all troubling about endeavouring to make any return has received a salutary check by the sentence just imposed upon two, iron at Greymouth, w!in were found guilty of "v-dting” a gold-dredg-ing claim. The offence of obtaining money by fraudulent pretences, as was done by the brothers Lawson, i* not a ix hit too severely punished by a sentence of two years’ imprisonment The whole community on tho West Coast is to bn congratulated upon an outcome which should save the district, from undeserved, odium, and should at the same time reassure the investing public, it mu«t bo confessed,' however, that Holey's Creek Extended claim is hot the only “duffer’ dredging area on tho Coast, [huviour alleges that yi at least one oilier caso a deliberate attempt was made to exploit tho investing public by means oi “salting” a claim. In some circles an impression prevails that these dishonest practices are general, and that (hey arc winked at or endorsed by tho mining community. Nothing could be further from tho truth. The “bona fide” miner knows that the fraudulent “salter” is bis worst enemy; and, as tho Creymouni case has proved, a mining community is prompt to punish those who arc detected in the obnoxious practice. Tito mining investor runs sufficient risks, even when the business is honestly conducted, for no business is more precarious than that of gold-finding. Working miners and those dependent upon goldmining for their business returns will, therefore,, unite iu stamping out, if possible, the fraudulent practices than bring loss to them and discredit upon tho industry. It is comforting to know that tho byig arm of the law is able to reach such disreputable schemers as the Lawson brothers. There need bo no apprehension as to the soundness ot tho dredging industry on the West doaal, for there is ample and indisputable evidence of the ricmiesw of many claims. Investors will, however, bo “shy” of now ventures, unless the tests are conducted under tho strictest conditions.