When we look to the operation of these causes, some of them being, from their nature, mere temporary expedients, and others arising from political movements over which we had no control, the existence of a large _balance_ of bullion in the coffers of the Bank of England ceases to be an index of the legitimate operations of trade. It is, in fact, nothing more than a balance. Without accurate data as to the quantities of the gold which have been sent into and again exported from this country during the last two years—data which our opponents have no wish whatever to see produced—it would be fallacious to assume that our increased imports of commodities have been met by our extended exports. Indeed, the Government accounts distinctly demonstrate that such is not the case. They prove that our imports are augmenting at a ratio to which the exports bear no manner of proportion; and no man, who will take the pains of considering dispassionately the foregoing tables, can doubt this. How, then, is the balance paid? Not certainly in goods; and if not in goods, in what other shape than money? The maintenance of the stock of bullion in the Bank depends solely upon the continuance or the recurrence of such unusual accidents as we have enumerated above. We have been large sellers of foreign funds and investments; and we have received from other countries, for the sake of security, important remittances of the precious metals. But until we can restore the balance of trade by raising our exports to the level of the imports, or by restricting the latter, which we are bound to do in every case where large branches of native industry can be affected, we cannot hope permanently to retain the treasure, except at a frightful sacrifice. Further sales and further deposits may combine to keep it here, even for a considerable period; but so soon as confidence is restored abroad, we must look for a steady drain. If our imports shall constantly exceed our exports, which is the tendency of our recent legislation, we shall be forced to correct the balance of trade by drawing upon the accumulations of our more prudent ancestors, who acted on different principles; and so long as the foreign investments of their wealth last us, we may be enabled to continue our spendthrift course, consuming more than we produce. But this must evidently have an end; and, long before that period, the annual diminution of our national means would be felt by all classes of society, and the war between the great bulk of the community and the money power would commence in terrible earnest.