Remarks on the production of the precious metals: and on the demonetization of gold in several countries in EuropeFaucher, Léon
History
Remarks on the production of the precious metals: and on the demonetization of gold in several countries in Europe
Faucher, Léon
Bimetallism; Precious metals; Precious metals -- Europe
francs) per diem; but this was not considered by Mr. Hargraves as above
the half of the probable gain to be obtained by an experienced workman,
and with proper implements.
This happened on the 8th May, 1851. The result of the experiment was
immediately blazoned forth: three persons started for the washings, and
returned in a few days with several pounds of gold. At the same time
a geologist, ordered by the local government to attest the statements
of Mr. Hargraves, at once stamped an official authority on the actual
existence of gold mines. This news created an immense sensation, not
only in Bathurst, but beyond, and in the capital of the colony. On
the 19th May, there were 600 miners at the “_placers_;” an enormous
immigration to a district where the population was but thinly scattered
over an almost indefinite extent of land. On the 24th, some of the
people wrote to their friends, that they were collecting from £3 to
£4 per day. One party of four miners had in one day, obtained thirty
ounces of gold, and had found a “nugget” weighing one pound. In three
weeks time, one workman alone amassed £1,600 sterling.
We would remark, in running hastily over the account of these early
experiments, that from the first, the inhabitants of Australia
foresaw the serious consequences of the revolution about to occur.
The colonial journals were filled with lamentations and direful
forebodings, and cursed, both in prose and in verse, the mania for
gold. The solitude of the towns, at the expense of which the deserts
were peopled, the abandonment of labour, the disruption of all social
ties, flocks left without shepherds, and crops destroyed for lack of
harvestmen: in short, every kind of misfortune from which the colonies
are now suffering, were seen in perspective. The greediest seekers
for gold might well take alarm; the epidemic, however, stopped not,
and soon spread in all directions. The Government took the lead, by
largely rewarding Mr. Hargraves, and appointing him the “explorer of
the mineral districts.” A proclamation immediately appeared, claiming
the precious discoveries as Crown property, and announcing a rate of
license for working gold mines at 30s. per miner per month. A wild
spirit of speculation soon sprang up in every direction. The municipal
authorities everywhere followed the example of the Government.
From the Bay of Newton to the Gulph of St. Vincent, over an extent
of 2,000 miles of shore, there was no town or village without its
sought-for neighbouring “placers.” In many districts, associations were
immediately formed, offering premiums for the earliest discovery of
gold.
Public-domain text, read in full here on John Shaqi.
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