GOLD MINING AS AN INVESTMENT.

Otago Witness, Issue 919, 10 July 1869, Page 9

GOLD MINING AS AN INVESTMENT.

'(Money Market Review.) 'Englishmen read, with, a mixture of wonder and doubt of the enormous profits realised in Australia' and New Zealand, through gold mining operations. It really seems as if their energies in pursuit of iron, coal, copper, and the like, had proved so exhaustive, that the more precious metals were passed over with comparative indiftereiice. True, it may be objected that we know more about our home products, and, that, if we meddle with what does not; belong to us, , we may incur a chance, of burning our fingers ; but this is really very shallow reasoning. Had' we pursued this onesided theory in all branches of trade, 'England would hot have been the nation it now 'is. There is something surprising in the fact that we, who rush fearlessly into the wildest sbeculations, should lag lehind the rest of the world in a. search which is, perhaps, of the most profitable character that can ever be undertaken. Our brethren in Australia act differently, and are much too acute not to seize with avidity upon the treasure which we pass over without a thought. The Australian colonies, over and above their own wan + s, can export upwards of thirteen millions sterling of. gold' in a year, and it is surprising to consider how small a part of this sum is the return on our home capital. While enormous profits are yielded to mining shareholders out of England, we find quoted in our market only one Australian company earning good dividends. We have the capital at command to a far greater extent than exists in our colonies, and we ought, therefore, to be proportionately more vigorous in our explorations, and benefited by the returns in a due degree. The fact is, we have never really turned our attention to the subject. We have from time to time, it i& true, been induced to take over the refuse of foreign miners ; tut we have seldom sought and found for ourselves. Herein reßts the whole pith of the story. If we desire to take rank amongst enterprising and prosperous miners, we must not remain apathetic, nor expect foreigners to hand over their findings to us at a loss to themselves. If we seek we shall find.