THE MINING INTEREST.

Otago Witness, Issue 846, 15 February 1868, Page 1

THE MINING INTEREST.

(From the Daily Times, Feb. 12.) The Gold Statistics of New Zealand are not very clearly kept. It is difficult to absolutely reconcile the different returns. The confusion arises from .the attempt partly to give a return of the gold from the respective Provinces as well as from the respective ports. At some of

the ports gold from more than one "Rate vince is exported, hence it becomes almtwc ■ impossible to accurately analyse^hetsfKn* total. We premise so mucn, in order fo px- 1 - ouse any apparent discrepancy and irant"6£ minuteness in the figures we are about to> -give. Evan coupled with a want of complete accuracy, the Gold Statistics are of great importance; more than anything, they show the history and progress of the gold discoveries in the Colony. The total yield o* gold from the Ist of April, 1867, to the 31st December, 1867, amounts to 3,746,2140z5, of which Auckland has concontributed 27,4240zs ; Marlborough, 33,7600zs ; Nelson, 520,0730zs ; Canterbury, 940,9780z5; Otago, 2,208,4090z5; and Southland, 15,5700z5. So it appears in the Gazette; but it need scarcely be saidT that part of the Southland gold belongs to Otago. In regard to Canterbury and Nelson, there appears to have been an. attempt to divide the gold between the Provinces according to their respective? yields. So at least we gather, by a comparison with another official return, in which the whole of the Greymouth gold is credited to Nelson, and that Province* made to appear to yield more and Canterbury less than in the second return. Again, with Otago, the returns for the separate years'which we have at command do> not correspond with the total in the official return, from which we have alreadyquoted. But in all the cases of difference, the discrepancies are not sufficient to invalidate the general features, which the statistics suggest.

The Ofcago returns may be considered to cover six and a half years. By the end of 1861, for the few months of that year during which gold was found, there was an export of 187,6950z5. Next year, the amount rose to 397,6020z5. In 1863 the export was 580,2330zs ; in 1864, 427,178 OZ3 ; in 1865, 259,1170zs ; in 1866, 162,4770zs ; and in 1867, 149,3640z5. It will be observed that, putting on one side.., the fraction of 1861 , , the second year showed a remarkable'increase on the first year; and during the remaining four years there has been a continuous decline. The years 1864 r 1865, and 1866 are remarkable mr that respect ; and it was during those yeai-s that the West Coa3t Goldfields sprung up. They had little effect on the Otago Gold Gelds in 1864, for it was towards the end of that year only that they were discovered ; but it must be admitted they have had a very sensible effect since. Few people in Ofcago are, probably, prepared to find how prolific these West Coast Goldfields' have proved. It seems but yesterday that they were discovered, and that the voice of warning; was sent up from all parts of the Colony cautioning miners from venturing in large numbers to locate themselves in the desolate, inhospitable region which the West Coast was supposed to be. Up to 1864 Nelson had yielded 61,8280z5. from various workings which had been going on f or y ears.. During 1804 the export was 14,4100z5; next year it swelled to 68,8600z5 ; during ISS66 it increased to 222,9040z5, and nominally, in 1867, it amounted to* 267,9600z5, though, probably, 50,0000zs of this belonged to Canterbury. The export of Canterbury gold to the end of 1864 amounted only to 14630z5; in 1865, it amounted to 233,1740z5; in 1866, to 337,3210z5; in 1867, to 253,1370z5. The latter should probably be increased by 50,0000zs set down to Nelson Although these results do not approach the highest yields of Otago, they are yet astonishing; in themselves. It is wonderful to think that a district which, little more than three years ago, was regarded as comparatively worthless, should have yielded -such vast treasure. The prophecies which were freely indulged in, that the West Coast would be speedily worked out, appear to be unfounded. There seems no reason to doubt that many years' profitable labor still remain to the miners in West Canterbury and Nelson. We may fairly ask indeed whether the best spots have yet been discovered ? It seems always to be accepted as a matter of course that the best Goldfields are first discovered and disposed of ; but there is no reason why such should be the case. In respect to Otago, where the gold is so widely distributed, and where of late the population has been so scanty, it is i beyond belief that the best deposits have been exhausted, and many of them touched. There is a description of mining, the most profitable of all, not yet commenced in ,Otago; but which, sooner or later is sure to come into vogue,

«nd to yUSA enonnpjwly— we allude to Tdeep sinking.;' Some statistics which have lately been 3mbKshed,in Victoria, are eminently suggestive iii-*espect to deep sinking. It has "been the fashion to suppose that the alluvial deposits in, Victoria have been worked out; and that the bulk of the goldwas obtained from quartz-reefing. Such is lay bo means the cas,e. /Apart from * the^-miners who worksinglyandinparti.es in alluvial ground,, the public '.companies allow an astounding balance %n Javor of .allovial mining. From some \ tables-, which have been most carefully prepared, it seems that the Mining Joint-Stock Companies in Victoria paid, during 1867, •dividends representing net profits to the amount of L823j300 ; and that, of this amount, L 597,350 belonged to Alluvial, and L 226,010 to Quartz Mining. The Ballarat sinkings are turning out better thau ever. ,A discovery of gold on the reef instead of in the gutter, promises to open up an immense amount of valuable ground hitherto deemed, valueless. We have Jieard a great deal of serious losses in Victoria from mining speculations ; and :no doubt there - has been a vast! number of ill-advisad adventures. But ■when the worthless are separated from the worthy, such a result as divi- 1 dends amounting to over three-quarters \ of a million sterling cannot be considered contemptible. In Otago, only! the surface deposits have been yet! attacked. Surely it is worth while attempting deep sinking. Ballarat is twice I as large a city as Dunedin. A Ballarat in Otago wuuld become the capital ot New .Zealand. That deep-seated deposits of gold are to be found in the Province there is little question, and there is no reason why they should not be both rich acd extensive.