Chapter 103: The Great Gold Mine of New South Wales
Although the new relief policies of the Royal Relief Committee were somewhat less appealing compared to the previous free material donations, they still received strong support from many among Australia's impoverished population.
According to investigations by the Ministry of Civil Affairs, out of Australia's nearly four million people, more than one million had annual incomes far below the national average, and many of them had low levels of education.
Many of these individuals were gold prospectors who had been drawn to Australia during the gold rush from surrounding regions and Asia. Attracted by the lure of wealth, they had come to this distant land.
They had hoped to strike it rich through gold mining, but who would have thought it would all end in vain?
While a small number of people did become wealthy thanks to gold mining, the majority remained in poverty.
Worse still, compared to European immigrants, these individuals couldn't integrate culturally, and their level of knowledge was far lower.
This was a major reason they became part of Australia's lower class—faced with cultural differences, the gap in knowledge became overwhelmingly significant.
Although decades of living in Australia had helped them barely integrate culturally, the gap between them and European immigrants was not something that could be closed in a short time. When it came to hiring, most Australian factories still preferred immigrants of pure European lineage.
As a result, these people remained at the bottom of society. Forget about turning their lives around—it was hard enough just to make sure their families were well-fed.
Fortunately, after his coronation, Arthur immediately established the Royal Relief Committee to assist all impoverished Australians.
This had temporarily provided them with food and clothing, offering some of the rare moments of happiness they had experienced since arriving in Australia.
These individuals continued to support the new round of relief efforts by the Royal Relief Committee. After all, if they were forced to go out and find work, they might not be able to secure jobs better than those assigned by the Committee.
By completing the work assigned to them by the Committee on time, they not only received food to fill their bellies but also earned a decent wage.
Although their wages barely reached the average income level, for this low-income population, it was still a respectable amount.
Thanks to their support, the Royal Relief Committee's new "work-for-relief" policy achieved considerable success.
In just the twenty days following National Day, more than 50,000 people signed up to participate in the work-for-relief program.
Most of these individuals were assigned work in local cities, whether it be cleaning streets or performing other odd jobs.
Although the pay wasn't high, they could still earn eight to nine pounds annually—enough to support themselves.
Some of the younger and stronger individuals were assigned to factory work. While factory jobs were more demanding, the wages were higher as well.
Factory salaries generally exceeded the national average. Even the lowest-paid apprentice workers earned ten pounds annually.
The participation of these workers also helped accelerate the development of industrial zones and major factories, while allowing them to earn the money they needed—truly a win-win situation.
At the same time, the Royal Family could save on the enormous annual relief expenses and reallocate the funds to areas in greater need, such as building nursing homes and orphanages.
Last year alone, more than two million pounds were spent on relief efforts, but the results were remarkable—most Australians no longer had to worry about hunger.
February 3, 1902 — Arthur's estate.
Not long into Arthur's period of rest, Prime Minister Evan urgently requested an audience and brought along truly exciting news.
As one of the earliest regions where gold was discovered, the southern part of New South Wales—specifically south of Sydney—had revealed a new gold mine, and its estimated reserves were substantial.
This was great news for Australia. Since the discovery of the Ballarat gold mine in Victoria over 50 years ago, the second global gold rush had drawn a massive influx of immigrants and gold seekers to Australia. During that period, Australia's gold mining industry reached its first peak.
However, as time passed, the known gold reserves dwindled, and gold mining entered a more stable phase.
Its appeal to immigrants diminished, and gold output became increasingly rare.
More importantly, the majority of the gold mined during that earlier era had been shipped off to the United Kingdom.
A vast amount of wealth flowed into the pockets of British elites, leaving Australians with very little in return.
Although Arthur's coronation had freed Australians from the oppression and exploitation of the British Empire, gold production had already declined. Even after more than two years of accumulation, gold reserves remained scarce at the national level.
This was one of the main reasons Arthur had not issued a national currency during his two years on the throne.
Aside from the deeply entrenched status of the British pound, which could not be replaced in Australia in the short term, another major factor was Australia's insufficient gold reserves to support a national paper currency.
At the time, most currencies operated under the gold standard and could be directly exchanged for gold.
Take the British pound, for example—one pound was equivalent to 7.33 grams of gold. This was why the pound held such high value.
If Australia wanted to issue its own currency, even for limited local use, it would need sufficient gold reserves to back the currency at a fixed exchange rate.
While a currency's credibility could temporarily be supported by the prestige of the government and the royal family, in the long run, a nation's gold reserves ultimately determined its monetary value and stability.
Therefore, this newly discovered and sizable gold mine was of critical importance to Australia's ambitions to issue its own currency.
Even if it were not used to mint currency, the mine alone could spark another gold rush and attract more immigrants to Australia.
Upon receiving this good news, Arthur immediately set off with Prime Minister Evan and a squad of guards, heading to the site of the gold discovery south of Sydney.
In fact, the newly discovered gold deposit wasn't confined to New South Wales. It was located in a gorge that straddled the border between New South Wales and Victoria, though the majority of the deposit fell within New South Wales territory.
The gorge stretched about two to three kilometers in length and width, with a small stream running nearby.
Scenically, it was a lovely area. But with the discovery of gold, its natural beauty was doomed to be disrupted.
By the time Arthur arrived, preliminary surveying had already been underway for some time.
According to the reports from the survey team, gold was found throughout almost the entire gorge, and they had already drilled down several dozen meters below ground.
(End of Chapter)
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