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
The district of Turon did not lose its repute. Such was the attraction
for gold hunting, that a labourer at Meroo would not undertake to work
for hire at a lower rate than £3 a-week, in addition to his food. Up
to October, 1851, the Government had given out 8,637 licenses; 10,000
miners were at work in the province of Sydney, and £215,866 sterling,
(about 5,500,000 francs) had already been shipped to England.
In December, the yield of the “placers” averaged £40,000 sterling per
week, a sum equivalent, after deducting the stoppages during extreme
drought and rain, to £2,000,000 sterling per annum.
These results, however brilliant they appeared, were soon eclipsed by
the accounts from the province of Victoria. Gold was first discovered
at Ballarat, where it was found at some considerable depth from the
surface; then at Mount Alexander, where it was dug up merely by the
pickaxe, almost on the ground; at Caliban, fifteen miles further, at
Albany, on the Murray, and on the east coast at Gipp’s Land.
It is asserted that the chain of hills which separates the province
of Victoria from Sydney, and which are known by the name of the Snowy
Mountains, is one vast mine of gold. Every day announces some new
discovery, and that of yesterday is almost always surpassed by that of
to-day. The mines of Mount Alexander are in extent about ten miles,
and the earth is said to be full of gold; they find the precious metal
in a gravelly clay, and in the interstices of a slatey formation. It
is sufficient to dig six inches of soil; and already, in the month of
December, 1851, there were 15,000 miners at work, and the deposits
appeared inexhaustible.
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