The Sun.
London, England, 1850-12-14 00:00:00

of commercial transactions shall always be limited
to the quantity of bullion that may from time to time
be longed in the cellars of the Bank. This in-
sentient metal is thus made by Act of Parliament,
the Master of the sentient being, Man, instead of
being his servant. It becomes the despot of intel-
ligence, and the law of progress must be stayed to
humour its caprices. Were the bullionist theory a
truth mankind could never have emerged from
barbarian till gold mines had been discovered, the
art of smelting perfected, and the machinery of a mint
been brought into effective operation. The continu-
ance and multiplication of the human race would
have depended, not on the fertile surface of the earth,
but on a metal concealed in its bowels. Our manu-
facturing interest now requires a larger and more
certain supply of cotton than the United States can
furnish ; it seeks it from British India, but railways
are there required to bring the cotton to the shipping
ports. What obstacle prevents the immediate com-
mencement of this useful an remunerating effort of
industry ? India has within herself all the needful
materials of construction ; but the bullionist theory
re quires that they who propose to build a railway
which i❑ the future shall be worth 5,000,0001.
sterling, must possess in the present, that is to
say, before the work is commenced, 5,000,000/. of
sovereigns of full weight; and for the loan or use of
these, must pay interest to usurers. The law then
of 1844 which seeks to guard the Bank of England
against an internal drain, is a law for limiting in-
dustrial employment, as it confines all enterprise
within the narrow range of a golden girdle. From
the fallacy of over-production, the bullionists pro-
ceed to the fallacy of over-population. Were we
to prohibit hank notes entirely, as the bullionist sys-
tem in its integrity demands, and confine ourselves
to a metallic currency, we should be over-populated,
in reference to money, even with a fiftieth part of
our present numbers ; for money is a tool to work
with, and if a law prohibits the increase of tools, the
population, in reference to tools, may at any moment
be rendered artificially redundant; while in reference
to land, mines, navigation, manufactures, and other
lucrative sources of labour, the population may be
wholly inadequate. The truth is, that bullionist
legislation withholds from able and willing labour
the power of being self-sustaining, and having com-
mitted this wrong, then declares that labour is in
excess. These economists create the very evil over
which they affect to mourn. The bullionist system
is designed to check credit, and yet the system itself
is based on credit; for we have seen that 31,000,000
of notes are allowed to be issued without any me-
tallic basis whatever; this issue therefore is clearly a
credit issue, and contradicts the whole theory. The
object of these remarks has been to put bullionism on
the defensive. Its authors assume that the system is
perfect, although they take for granted the funda-
mental point in dispute. Without a shadow of reaso❑
they have decided that money ought to, and of neces-
sity must, possess intrinsic value, not observing that
though the Author of Nature created gold, it was man
who coined it into sovereigns. They appear to ima-
gine that the ore fresh dug from the mine was im-
pressed with a mint mark. The theory investigated
shows that when a foreign drain of gold takes place,
all existing stocks of goods must be sacrificed, to
tempt foreigners to restore the bullion; that when
an internal drain takes place, the most useful works
must be suspended. In both cases it is clear that bul-
lionism ruins industry, increases poor-rates, aggra-
vates the pressure of taxation, and by depriving the
working classes of employment and wages, creates
discontent, and not unfrequently prompts to sedition.
It is a form of idolatry which enriches its priests by
beggaring its worshippers. ALADDIN.

MININ G INTELLIGENCE.
(From the Mining Journal of this day.)
A very extensive business has been transacted this
week in every class of mines, of whicb, however, the
dividend ones have absorbed the greater portion, and a
marked rise in their value may be noted partly from
this cause, but also from the improved prospects of se-
veral of the leading concerns. For instance, East Pool
have advanced from 90 to 105; South Wheal Francis,
from 600 to 640; West Providence, 41 to 50; East Tol-
gus, 9.} to 20, and others in proportion. Buyers, how-
ever, still complain of the want of a general market for
mining shares, the establishment of which we feel as-
sured would largely increase investments. A strong ar-
gument in favour of the vigorous prosecution of lead
mines, and particularly those whose ores are rich in
silver, is presented by an article in the Times, of the 9th
inst., wherein is shown that the increase of population,
and the industrial operations consequent thereupon,
combined with other causes of a more transient cha-
racter, are creating an additional demand for silver coin
all over the world, and thus enhancing its value; whilst
gold, from a superabundant supply (estimated at ten mil-

lions sterling per annum fro— California alone), must
undergo a depreciation in value, simply because it is
likely to be less demanded for the purposes of circulation.
The improvement noticed in the metal trade gene-
rally during the last few weeks continues unabated.
Leal is in improved demand, at somewhat firmer prices.
The market for foreign tin has been in a most excited
state, and a very extensive business has been done—full
20,000 slabs having changed hands at advancing prices.
English tin has advanced 3/. per ton, and tin-plates con-
tinue in good demand at full prices. Copper is steady,
and without alteration.

Another cargo of copper ore, 484 tons, has arrived at
Swansea, from Cuba.
The sales of copper ores at Redruth. on Thursday,
amounted to 2,674 tons, producing 19,8091. 17s. 6d.
llerodsfoot mine sold 80 tuns of silver-load ore, at
11/. l7s. 6d. per ton.
The Glenwalur Mine, Wicklow, has sold 66 tons of
lead ore, at 101. 10a. per ton.
The Keswick Mines sold two parcels of lead ore-10
tons ut 111., and 5 tons at 10/. 10s. per ton.
Two camels of lead ore from the Driggith Mine pro-
duced-10 tons, 11/. 10s., and 6 tons 91. 10s. per ton.
Wheal Mary Ann sold 90 tons of lead ore, at 191. Bs.
6d. per ton—the biddings for which varied from 151. 10s.
by the Combmartin and North Devon Smelting Com-
pany, to that of the purchasers, Messrs. Locke, Blackett,
and Company.
The lead ore raised at the Lisburne Mines in Novem-
ber amounted to 287 tons, of which 162 tons were from
Frongoch, 117 toss from Logylas, and 8 toss from
Graigoch.
The report from the Nanteos Mines states that the
five weeks' sampling amounts to 52 tons of lead ore-36
tons from Bwlchgwin, and 16 tons from Gwaithgoch.
At the Goginan Mines SO tons of silver lead were
sampled on the 10th inst. The 120 fathom level west
is improved, and now yields 2 tons of ore per fathom.
At the Bog Mine, Cardiganshire, the lode which has
just been cut in the cross-cut north, in the 46 fm. level,

is expected to yield 10 cwts. of lead ore per fm. Several
branches remain to be cut.
At East Crowndale, the returns for Nov. will, it is es-
timated, amount to 6 tons of black tin, and the mine
generally is improving.
Two parcels of black tin from Drakewalls Mine were
sold-5.12- tons at 45/. 12s. 6d., and 3} at 401. sa. per ton.
The first sale of tin from the Warleggan Consols Mine
produced 47/. and 33/. per ton.
A discovery of some magnitude has taken place at
Great Sheba Consols; the lode is said to be 9 ft. wide,
carrying ore throughout, in the adit level; 70 men are
employed in erecting machinery. It is supposed to be
the Devon Consols lode.
At Old Pulberro Mine (St. Agnes), the 60 fm. level
west is much improved; the lode is nearly 4 ft. wide, 2ft.
of which is good work. Two tons of good ore were ob-
tained from a length of 4 ft. The tin dressing is going
on tolerably well.
At Bat Holes, the lode in the deep adit is worth 71,
and the stopes 161. per fathom. A cross-cut has been
driven to Woodvein lode, and the accounts received are
encouraging.
Cook's Kitchen has greatly improved during the last
two or three days, especially the north lode, where a
great quantity of very rich copper ore has been raised.
A dividend of 51. per share has been declared in the
Cwmystwyth Mine.
The Dolcoath Mine accounts show-By copper ore
sold, 6091. 53. Id.; tin, 2,4031. 18s. Id.; arsenic, 1371 19s.
7d.; sundry receipts, 1971. 15s. 6d.--_-3,345/. 18s. 2d.
Mine cost for September and October, 2,3091. 3s. 4d.;
land and water rents. 1681. 183. 6d.; merchants' bills,
7 I ls. Bd.; dues, 651. I Is. Bd.-leaving profit of 291.
12s. Bd.; the liabilities of the mine, which, at the end of
August last, were 2,7341. Is. 9d., being thereby reduced
to 2,704/. 9s. Id.
At the Lamherooe Wheal Maria meeting the recent
discovery on the B lode formed a subject of prominent
interest, and the details given by Mr. Murray, which
will be found in another column, afforded much satis-
faction. That gentleman stated that he had never in his
experience seen a more promising copper lode, and he
anticipated the most important results from its workings.
The hinds in hand, it is supposed, would defray the ex-
penses of the past month. The shares forfeited to the
mine are 306 out of 2,048, and it was resolved that the
mine shall in future consist of 1,742 shares.
The East Tywarnhale accounts show-Balance, July
31, 63/. 15s. 4d.; mine costs, Aug., Sept., and Oct., 3051.
6s. 6d.; merchants' bills, 1471 Os. 11d.=--5161. 2s. 9d.-By
call of 2/. per share, 5121.-leaves balance in favour, 41.
2s. 9d. A call of 3/. per share was made.
The East Wheal George Mine account showed-Total
expenditure to the end of Nov., 2,365/. 15s. id.-Re-
ceipts from three calls, 2,048/.; ores sold, 216/. Is. 3d.;
leaving balance against the adventures, 101/. 14s. sd.
The reports from Capts. S. Lern and Pomroy were fa-
vourable, and it was believed that no further call would
be required.
At the Tavy Consols meeting the accounts showed-

Balance at lasi meeting, 3471. 7s. 3d.; mine cost for Sep-
tember, 2221. IGs. Bd.; October, 2311. 2s. 3d.; dues, 501.
4s. 11d.; merchants' bills, &c., 251. 15s. 103.=57 71. 63.
I ld.—By calls, 3455. I0s.; sales of ore, 510/. ss. 11d.—
showing balance against mine, 231. 1 Is.; add estimated
liab lines, 4201.=4431. I Is.; ores due and now for sale,
2701.—leaves mine in debt, 1731. lie. It is expected
that as the cost will henceforth be touch less than here-
tofore, and that all possible reductions have been made
in the expense!, a monthly profit will be shown in future,
the ground in the shaft through which they are sinking
giving hopes of a considerable improvement in the lode
at the next level.
At the 'Wheal Sarah meeting it was determined that
the working of the mine be resumed on the plan recom-
mended by Mr. Murray in his report. A balance of
2331. 14s. 4d. remaining in the sands of Mr. Wiseman
was directed to be applied to the payment of the mine
debts. Mt. Crofts, the secretary, tendered his resigna-
tion, on the ground that his other avocations precluded
his giving the necessary attention to the affairs of the
001:01)411,