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 can point to such results as those given above, and tickle the public ear with the suggestion that there is a chance—if it be only a five million to one chance—that a new investment may in like manner multiply twenty-thousand-fold annually. It is rather a grim comment upon the fate of the pioneer miner that the chairman of this syndicate, at the meeting which adopted the final report, in accepting a vote of thanks, moved to express gratitude to the discoverer of this enormous wealth. He would forward the motion, he said, by letter; "as he understood that Mr Pearce, the original prospector, was now at Klondike trying his luck." This Pearce it was who "pegged out" the Great Boulder, the Lake View, and the Ivanhoe; and thus founded the present Boulder City. Paddy Hannan, who found the alluvial at Kalgoorlie, was lately rescued from indigence by the mayor of the town which once bore his name, who secured two allotments for him as a sort of endowment. And Bayley, who started Coolgardie, is dead. But the average man is blind to the reverse of the picture, and, tempted by such glittering bait as that contained in the above statement of accounts, will risk health, life, and savings on the chance of drawing a dazzling prize.

The output of gold from Western Australia has been disappointing to many eager investors; but this is accounted for to some extent by the very difficult nature of the country, especially in respect to water supply, and it has taken a long time to manufacture and erect the adequate machinery for extracting and treating the ore. But for the year 1898 the returns have shown a remarkable increase. The output of gold for October in Western Australia was 116,824 ounces, value £444,000. This, compared with the largest previous monthly output, 93,395 ounces, showed an increase of 23,429 ounces.