SATURDAY, JULY 31, 1869.

Star (Christchurch), Issue 379, 31 July 1869, Page 2

SATURDAY, JULY 31, 1869.

oFhom a notice in the morning papers, it seems that the Government have reserved the remainder of the laud in the immediate neighbourhood of McQueens, and that a large number of applications for land in the Peninsula are likely to be made on Monday next. We are not aware that. there ia distinct evidence of any gold having yet been found iv the quartz, but those who are qualified to judge seem to think, thai.- as the reefs are tested, the j character of the quartz decidedly iraDroves, and becomes more likely to turn out gold-bearing when opened out still deeper. Under these circumstances, it is perhaps right for the Government to exercise its powers, and reserve the land from sale. It is quite evident, however, that even if gold exists in the Peninsula quartz reefs, it will not be by individual efforts that the discovery will bo made. Quartz reefs are hard nuts to crack, and generally require more or less capital for their development. When they turn out well, the returns are generally satisfactory, sometimes — | as we all kno.v from the experience of: Auckland — enormous. In reality, quartz mining is essentially a speculative undertaking. It is better, therefore, that the rinks should be divided over as large a number as possible. If four or five hundred people lose five pounds apeice, it does not much miLter. If four or five lose two or three thousand between them, the matter may be serious. We are glad, therefore, to hear that a company is being formed to test the quartz mines upon the Peninsula. The object is perfectly legitimate, and will, we hope, meet with success.