Mines like the Shotover at Thames provided the key to Auckland's economic recovery. (Alexander Turnbull Library)
Mines like the Shotover at Thames provided the key to Auckland's economic recovery. (Alexander Turnbull Library)
The award for this year goes not to an individual but to the miners and investors who worked and financed the Thames goldfields.
The Herald argued the full value of the mines could be extracted only with capital to finance the necessary quartz crushing machinery and it urged miners toovercome their prejudice against joint stock companies.
To a large extent this happened. Not only did the marriage of labour and capital create a vibrant stock exchange in Auckland but, according to J.H.M. Salmon in his History of Gold Mining in New Zealand, the new companies boosted the value of gold exports from £18,000 in 1867 to £150,000 in 1868.
This, in turn, provided much needed stimulus to the city's economy which had been languishing since the British Army had withdrawn and the Government moved the capital to Wellington in 1865.
Those who took the risks and did the back-breaking work are the New Zealanders of the Year for 1868.
