ORIGINAL CORRESPONDENCE.

Otago Witness, Issue 555, 19 July 1862, Page 5

ORIGINAL CORRESPONDENCE.

PRICE OF GOLD.

To the Editor of the Witness. Sir, — I have just received a letter from one of the shareholders in a claim that was lately ill work in Gabriel'- Gully, in which he states that he -sold in Melbourne his portion of the gold obtained from that claim as "Otap;o gold," to the B.vnk of New South Wales for £3 18s. per oz. This is a a'ross injustice towards the miners, pevpe- ' trated by the combination of certain parties in tlin Province, to offer so low a price for the cold litre as £3 12s. GJ. per oz. Tlio paltry argument urged as an excuse of the expenses of ri-eisrht and insurance will not stvc the purpose with all persons. | Gold buying is a great scheme for circulating old ra'»s; and the pushing of notes into circulation ouuht to be considered sufficient, without taking advantage of the public confidence by giviner paper in exchange for a less amount than the just value of an article that is produced only by those without capital. Numbprs of iuiuci-5 that have succeeded well while their claims were unexhausted here would not have left the province, but have remained and gone out prospecting ou their own account, if a reasonable offer had been made for the gold they obtained. If the above statement should be doubted by any interested buyers of gold, I will send you the letter I have lcceived. I am, Sir, Your most obedient servant, Wm. Hy. Bakton. Gabriel's Gaily, Tuapclca, July 17, 1362. [This letter was accidentally mislaid, or it should have appeared earlier.]