The Sun.
London, England, 1858-09-04 00:00:00

THE GOLD FIELDS.

Although our gold shipments for the six months ending
with June of the current year, have been less in amount
than those of the corresponding period of 1857, it is gratify-
ing to find that the quantity exported during the last three
months exceeds that of the corresponding quarter of last
year, by 20,069 ounces. The following figures show the
extent of our gold produce for the present year, as compared
with parallel periods of preceding years.
The quantities brought to Melbourne by Government
escort, and those exported during the six months ending on
the 30th of June, of 1856, 1857, and 1858 respectively, were
as follow :---

Escorts. Shipments.
Half-year of 1856..1,353,984 oz. 1,588,051 oz.
Do. do. 1857..1,142,188 oz, 1,341,874 oz.
Do. do. 1858..1,133,166 oz. 1,277,568 oz.
The escort returns for the second quarter of 1856, and o.
the two following years, are now subjoined :-
1856. 1857. 1858.
Oz. Oz. Oz.
April
May
June

610,291 577,191 548,263
The shipments during the, same period were as under
1856. 1857. 1858.
Oz. Oz. Oz.
April 282,566 .. 247,634 .. 168,862
May
June

717,893

573,110

593,179

There is nothing calling for particular remark
in connection with mining operations since the date
of the last summary. No fit successor to the
celebrated " Welcome Nugget," the discovery of which
was recorded in our last summary, has made its
appearance ; but Ballarat, where that magnificent prize
was obtained, continues to sustain its reputation as the
premier gold-field. The heavy rains of the last week have
been a true boon to the alluvial diggers, and we have full
expectation of a marked increase in the escort quantities for
some time to come. From Pleasant Creek, Ararat, Cath-
cart, and Smythe Creek, we have good accounts ; and Ben-
digo, the Whipstick, and the London have their share of
"rushes." The discoveries of rich auriferous reefs at Gor-
don are confirmed, although there is some variance in the
statements with regard to the degree of richness.
The principal event, however, of the month, in relation
to the gold-fields, has been the publication by official
authority, of a series of regulations intended to govern the
issuing of mining leases. The pressing want of legislative
interference of a remedial character to meet the effects of
the comparative stagnation which, with regard to some of
the older gold-fields, had affected individual mining enter-
prise, has long been felt ; while at the same time it was
known that the ground, upon which the individual miner
could not obtain an ordinary labourer's remuneration,
would, if worked by machinery and with other
suitable appliances, richly compensate those who
entered upon such, a speculation. The class of
miners engaged in quartz-reef operations would
undoubtedly experience to a still greater extent the advan-
tages of the introduction of some system under which they_
would be able to extend their workings. But although
there were few, if any, to be found who were disposed to
deny these premises, the regulations already referred to
were no sooner published than the whole mining community
was split up into multifarious sections, each holding dif-
ferent views on the subject. The Ballarat Mining Board
was favourable to the regulations ; the Sandhurst and.
Castlemaine representatives of the miners declared them-
selves on the adverse side. In the other gold districts the
same diversity of opinion was manifested. The truth is,
that there were two distinct, and, as generally held, anta-
gonistic classes to be satisfied. The labouring miner,
naturally jealous of his independence ; and the capitalist,
with an equally natural yearning for tangible security.
The former, notwithstanding his admitted inability to
realise unaided the golden reward which he knew existed
for those who were in a position to comply with the hard
preliminary conditions necessary to be satisfied, dreaded the
introduction of a newand hitherto unnecessary agency, as an
innovation which would ultimately strip him of the individual
privileges he had enjoyed from the commencement of gold-
mining in the colony. Accordingly, when the notion of
granting mining leases was mooted, we find him in opposi-
tion, and giving, as his reason, the probability of undue
advantages being allowed to the representative of capital.
The Castlemairte Mining Board, composed, like those
of the other districts, of practical gold miners, elected by
their own class in the various contiguous localities, pro-
nounced against the issue of leases, unless some provision
that would guarantee the employment of a certain number
of men to every acre leased was legalised. This was in
effect to determine that leases should not be granted, for a
forced employment of labour such as the board contemplated
would never be submitted to by men of capital who sought
a profitable investment for their money. On the other
hand, the capitalist disposed to invest, but determined to
have security commensurate with the degree of his risk,
required the introduction in the lease of restrictions which
would assure him of adequate protection. He must be
secured against the probability of being involved in adven-
tures of a spurious nature, from which he would be the only
sufferer, compulsory production of proof that the enterprise
in which he was ready to embark was a bona fide one. Such
was the feeling on the eve of the publication of the regula-
tions, and it will we think be perceptible that the Solicitor-
General, who had undertaken the task of mediator, had no
light one to perform.
The regulations for mining leases were published on the
28th ult. The substance of the chief provisions is as fol-
lows :—As a primary rule, the mining boards of the various
gold districts may from time to time submit to the Gover-
nor in Council regulations which, on their adoption by the
latter, will have the same force as regulations originating
with the Government. Leases are to be applied for accord-
ing to the following classification :—Leases of alluvial de-
posits, leases of quartz reefs, and general leases the last
combining the peculiarities of the others. All leases may
on their expiry be revived on the same conditions as origi-
nally granted, subject to additional conditions consistent
with the general regulations or with any special circum-
stances. There are six general rules bearing upon the
areas and physical conditions of the land to be leased. The
term of each lease is not to exceed ten years, and the rent
to be reserved not less than £5O per annum, payable in
advance. A fee of .£lO is required to be paid prior to the
delivery of the lease, and before any is issued 25 per
cent, of the capital subscribed, or proposed to be ex-
pended, is to be paid into the Treasury, to be refunded on
the completion of the lease ; or the Government must be
otherwise satisfied that such proportion of the capital has
been paid up. Then follow a series of 15 clauses relating
to special covenants providing for the public safety, and
protective of public interest. The rules to be observed by
applicants for leases include the payment of a deposit of
£lOO as evidence of the genuineness of the application, and
a further sum of £lOO as security for the due execution of
the lease when prepared.
The numerous pecuniary conditions in these regulations
excited the disapprobation of some of the mining boards,
and several have protested against the regulations as in-
tended for the benefit of capitalists only, inasmuch as the
rules requiring the deposit of so much money could not be
observed by the mass of labouring miners. The explana-
tions of the Solicitor-General, during a professional visit
he paid a week or two ago to Ballarat, and the interval that
has elapsed since the publication of the regulations, have pro-
duced a decided balance of opinion in their favour ; and, al-
though it is probable that the Government will have to mq-
dify the pecuniary restrictions which have been and are
the greatest hindrance to the popularity of the regulations,
we believe that in most other respects they will be cheer-
fully accepted as a very promising instalment of that bene-
ficial result which has long been looked' forward to as con-
tingent upon the co-operation for the development of our
mineral resources of capital and labour.
We take from an official return, printed by order of the
Legislative Assembly, the following statistical facts con-
nected with the gold fields :
The first schedule gives a return of the amount of gold
deposited during each year at the Government receiving-
houses on the gold fields since their first establishment.
From it we find, excluding fractional parts, that the
quantity so deposited in 1852 was 85,479 oz • in 1853,
202,146 oz. ; in 1854, 326,687 oz. ; in 1855, 542,027 oz. ;
in 1856, 374,769 oz. ; and in 1857, 182,627 oz. The total
quantity of such deposits amounts to 1,714,005 oz.
We next find a return of the amount of gold brought to
Melbourne by government escort during each year since the
discovery of the gold-fields. It states the quantities to have
been as follow :—ln 1851, 104,154 oz. ; in 1852, 1,145,829
oz. ; in 1853, 1,.491,436 oz. ; in 1854, 1,476,666 oz. ; in 1855,
2,132,397 oz. ; in 1856, 2,625,958 oz. ; and in 1857,2,481,020
oz., making a total quantity of 11,457,472.
The succeeding schedule gives a return of the amount of
revenue derived from the gold-fields, with the amount
arising from the export duty on gold. From the Ist July,
1851, to the end of that year, the gold-fields' revenue
amounted to £23,384 2s. 7d.; during 1852, to £485,479 75.3 d ;
in 1853, to £711,457 16s. 7d. ; in 1854, to £423,920 14s. 1d..,•
in 1855, to £131,211 Os. 11d.; in 1856, to £90,048 7s. 10d ; and
in 1857, to £77,177 17s. The total amount of .revenue
which we are told in a note was derived from mining, and
does not include sales of land, or any revenue not derived
directly from mining operations, was £1,947,679 12s 3d.
The export duty, first' imposed in 1855, contributed
£233,225 10s. sd. ; in 1856, £374,884 4s. Bd. ; and in 1857,
£344,354 10s. 3d. ; a total receipt of £952,661 ss. 4d. ;
making an aggregate revenue of £2,900,343 17s. 7d.
Reverting to the subject of mining leases, we may state
that a conference of the various mining boards of the colony,
with reference to that subject, is to be held in Melbourne on
the 20th inst.

MONETARY AND COMMERCIAL.
The failure of the European and Australian Royal Mail
Company to fulfil the terms of their contract, in respect of
the Australian postal service, has again been the subject
of unfavourable comment throughout the colonies, during
the. past week. It cannot be denied that our interests are
seriously damaged in consequence of the shortcomings of the
company in question, and that our commerce equally suf-
fers to an extent which it would be difficult to exaggerate.
The merchants of Victoria and New South Wales have
abundant cause to complain that whilst the directors of a
mail packet company are perfecting their arrangements
they are compelled to sustain the heavy losses entailed
upon them by the uncertainty of the communication with
the United kingdom. On repeated occasions the regular
course of post has been interrupted, for the simple reason
that second-class steamers have been placed on a station,
the requirements of which are such that vessels of ordinary
sailing and steaming qualities will of necessity break down
after one or two trips. The latest instance of this
has been afforded in the case of the Victoria, which
was duo at this port on the Gth inst., and which, up to the
present moment, has not made her appearance in Hobson's
Bay. We can readily understand on what grounds some
consideration was claimed by the company at the outset of
their undertaking, and we frequently deprecated anything
like a harsh decision, with regard to proceedings which
certainly appeared to fall very short of our legitimate de-
mands. But we are at a loss to discover that any causes
are in operation at the present moment which can possibly
tend to prevent a judicious organisation of our postal sys-
tem, save those which are wholly attributable to the supine-
ness of 'the E. and A. Company ; and which should long
ere this have been removed by the responsible authorities
connected with this undertaking.
In the money market the demand for advances on first-
class securities has slightly increased, and although capital
is freely offering for the purposes of investment, the rates
now quoted range from 10 to 12f per cent. There have not
been any fluctuations of importance in the stock and share
markets and prices have Uen exceedingly well sustained.
Sales of gaa &arse at 0 Iwo been effected,

and Bank of Victoria are now held for £4O. Melbourne
and Hobson's Bay Railway Company's shares have boon
done at £7l 10s. The various local iusurance companies'
shares are in steady request. Victoria Fire Insurance have
changed hands at £55 ; Colonial Insurance at 40s. ; Aus-
tralasian at 30s. to 325. 6d. ; and Melbourne at 14s. The
promoters of the National Bank have been very suc-
cessful in their endeavours to secure an extension of
public support to that institution, and the demand for
shares has increased in a highly satisfactory degree. The
applications for .shares have been very numerous, and the
prospects of the undertaking are such that it is contem-
plated to establish a branch at the Mauritius, in addition to
those which will be set in operation throughout the Austra-
lian colonies.

THE ESTABLISHMENT OF A BRANCH OF THE ROYAL
MINT IN VICTORIA.—The amount of gold transmitted
hence to Sydney for coinage, and the expense and delay
involved in the operation taken into consideration with the
advantages that would accrue to this community from the
facility of having its gold assayed and certified on the spot,
and its gold circulation supplemented in proportion to its
requirements, has suggested the expediency of establishing
a branch of the Royal Mint in Melbourne, and a memorial
has been presented to his Excellency the Governor, pray-
ing that steps may be taken for the accomplishment of this
object.