We are, of course, glad that there seems a reasonable
prospect of a portion of the British Empire becoming so great a field for British enterprise, but we dread the outburst of speculation that is almost certain to take place. A gold boom, and the subsequent crash, do as much to impoverish people as paying gold does to enrich them. For the next few months scraps of Rhodesian soil, whether gold-bearing or not, will doubtless be sold at fabulous prices to investors who will swallow anything as long as it is called a gold mine. As bad will be the over-capitalisation of genuine mines. Mines capable of paying say 220,000 a year will be sold for £1,000;000, or more. We suppose there is no remedy for this, as it is, in fact, merely the result of imprudence, and of men's willingness when excited to give far mere for things than they are worth, as may be seen any day at an auction. At the same time, one cannot feel very enthusiastic at the prospect of a new boom in gold mines, and specially deplore the atmosphere of wild excitement which was shown at the Cannon Street meeting.
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