The Sun.
London, England, 1837-08-19 00:00:00

EGYPT.

(From Mr. Waghorn.)
CAIRO, JULY 25.—My absence from Egypt was for
lour months, during which time Egyptian cotton declined
iu price from 181 dollars, remaining now unsaleable at 10
dollars the cantar, below which price the Pasha's finance
minister is determined not to sell, although he has on band
at least three-fourths of this year's growth. I had seen it
stated in the Smyrna Gazette a few days before my arrival
that there was no money in Egypt, and that the country
was in hopeless distress. In truth, I find it quite the re-
verse ; to the proof of which—lst, that the Pasha's minister
mill not tell cotton at the present ruinous prices ; 2d, that
60,000 dollars were remitted from Egypt to England and
France by the steamer three weeks ago ; and 3d, that the
Pasha's European agents are all paid up. To mercantile
men these three facts speak for themselves, and nothing
better shoWS the renovating and rising pretensions Egypt
monthly puts forth to he numbered among kingdoms, in-
stead of being fettered and chained, kept so by England,
&e., to the certain fall of Turkey. The superior financial
policy of Egypt is most striking. It results from sound
organisation through Mehemed Ali's finance minister, Bog-
hos Bey, who appears to have been anticipating some such
like panic in cotton as has happened in America, England,
&c., and had a store of money for the occasion ; for al-
though three or four foreign merchants at Alexandria have
failed by burning their fingers in cotton speculations, still
the recent aspect of affairs in Egypt is more than equal to
ass period of Mohamed Ali's government.
The German miners sent eight months ago to this coun-
try some of whom are employed in Syria, and some in CoN
dofan, have in both countries made in gratifying discoveries
—in the former country iron mines, in the latter a gold one ;
hut before extracting the ore from this last, an armed force
is required for the protection of themselves and works, which
will be shortly put at their disposal from a portion of the
Pasha's troops in the vicinity of that district. Great interest
is attached to this discovery by the Egyptian Government.
Coalmines have been discovered in Syria, at Mount Le-
banon,' from 20 to 26 miles eastward of 13evrout, at an ele-
vation of upwards of 2,500 feet above the level of the sea.
There are traces of coal and many thin strata in various
parts of the mountains. Previously to this spring three
mines had been.discovered, of a quality and thickness suffi.-
cient to warrant the expense of proving and working them.,
Since that time another has been discovered, although
Mr. Brettell, the Pasha's engineer in Syria, is nor.
yet
able to decide upon its value. The seams, on an,isveraee are three feet thick ; the coal is of good quelity ,
and e-
aerates steam quickly, but forms clinkers in the barsgof
the grate, which requires frequent cleaning ; it contains
much iron pyrites, and, if not properly assorted, is liable
to spontaneous ignition. The Pasha has determined to
ascertain if it is suitable for smelting the iron ores f
Syria, and his Highness is now erecting
an experimentaol
furnace for that purpose. Should the experiment succeed,
Mohamet Ali will erect iron works in Syria, where the ore
is very abundant. Iron ore is found both in Lebanon and
Anti-Lebanon, and it is traditionally reported that some
of the mines were worked in the time of the Romans.
Large quantities of cinder from the ancient furnaces are
frequently met with occasionally, at considerable distances
from the mines, generally in places where the evergreen oak
flourishes. The mountaineers now smelt the ore with the
branches of that tree, and iron thus produced is used for
making horse-shoe nai.ts, and for other purposes where best
iron i srcquired,

The Eupikin navy is divided. and at sea—some cruis-
inF ca, Egypt, some off Syria, and some off Candia ;
while, during my absence, another splendid line-of-hattin
ship has been launched, and is now in rapid couree of 6..
merit 140 Arsenal of Alexandria; at which place imPre ve-
meats Are going on, particularly in building ;at no sP'Jts in