The yield of the various gold-fields[24] in the west, north, and south of the colony, though nothing like so great as in the neighbouring colony of Victoria, yet contributes in no inconsiderable degree to the annual revenue of the state, and maintains a considerable commerce with other countries. According to official reports, the amount of gold taken out since its first discovery in March, 1851, to the end of July, 1860, was 2,587,549 oz., worth about £9,600,000. Besides this, however, a considerable quantity of money was brought to the coast by private conveyance, where it was smelted down, since the entire yield of New South Wales in nine years was £12,696,231, besides £3,096,231 in the State Treasury and Mint, according to official returns.
The rumour that gold was to be found in Australia was first set on foot by the Rev. H. F. Clarke, a Protestant missionary and well-known geologist, who so far back as 1841 found gold in the hills W. of Vale of Clyde, and had even then proved to several influential personages by unmistakeable evidence the existence of gold-quartz, with the remark that in Australia, especially the province of Victoria, all scientific indications were in favour of there being a great amount of gold. But the learned country parson found at that time little attention or interest, as well in consequence of its then being still a penal colony, as of the ignorance at that period universally prevalent as to the value of such indications.
Ten years later a certain Mr. Hargrave adopted the rational course of visiting California, where he made himself master of the various means of obtaining gold, after which he returned, and commenced to wash for gold in Summer Hill Creek, Victoria, and thus became the practical discoverer of the gold-fields, the special contributor to the development of the resources of the country. The committee of the Legislative Council, to whom was entrusted to examine and report upon the claims of individuals as to the honour of having discovered the Australian gold-fields, added to the minute of 10th March, 1841, that Mr. Hargrave, who had so disinterestedly thrown open to all this inexhaustible mine of wealth, ought to receive £5000, and Rev. W. H. Clarke £1000 in recognition of his mineralogical researches, which had conduced to the same result. The first Australian gold, 18 oz. in weight, was landed in London by the _Honduras_ on 20th August, 1851. Thenceforward the importation increased with each month, the amount by the end of the year having reached 240,044 oz., worth £871,652. The following year the amount extracted was 4,247,657 oz., value £14,866,799.