Two kinds of “permits for research” are granted by the Government. The first—a general one to search in any part of Bulgaria—is given free, but with a personal guarantee that any damage done will be made good. The second is a permit for a special place, which must not be of greater extent than 8,000,000 square metres, and for this is charged eighty francs. This lasts for two years. After this time, if a concession is desired, the Department make inquiries in order to see if the proposed mine bears sufficient to justify its working. This having been decided—which takes about a month, or at most two—the Prince issues a decree, and the concession is granted for ever. No deposit is required, but the Government takes, for each hectare, three francs per annum for coals, and four francs per annum for minerals. They also tax the output at the rate of one per cent. Machinery and material enter the country free of duty, and as far as I was able to judge, the Bulgarians make excellent workmen, being very sober, industrious, and obedient. At present, however, there is large emigration, for there is not sufficient work for the four and a half millions of people in the country. [Illustration: HIS EXCELLENCY N. GHENADIEFF, Bulgarian Minister of Commerce.] One colliery is worked by the Government at Pernik, and this supplies the railways, the city of Sofia, and the many industrial enterprises with about 200,000 tons of excellent coal yearly. All the other mines are just starting to work, and show prospects of splendid profits. The copper mine at Vraza, which is exploited by Monsieur Maurocordato of Constantinople—who has invested about 600,000 francs—has, in two years, repaid itself, thus showing that there are mines in Bulgaria, and very rich ones indeed. All the concessions already granted show great futures, but unfortunately, with the exception of the Vraza enterprise, the concessionaires lack capital. The Bulgarian Mining Law is a very liberal one, being an exception to the laws of most other countries, for it has been drawn up specially to induce the investment of foreign capital, as well as to secure the interests of shareholders. The people of Bulgaria are not rich enough to exploit their mines themselves, and for that reason the mining industry of the country must of necessity be in the hands of the foreigner. When making my inquiries, M. R. S. Kossef, Director of the Commercial Department of the Ministry of Foreign Affairs, was most particular that I should say nothing that was not absolutely true regarding the mines. “We do not wish to attract capitalists to Bulgaria by means of advertisement,” he said. “We wish them to know that they will here find a good return for their investments, and that if they exploit our mines, we, on our part, will treat them justly—even generously.”