“Polybius relates that, in his time, mines of gold were found among the Taurisci Norici, in the neighbourhood of Aquilea, so rich that, in digging to the depth of two feet only, gold was met with, and that the ordinary sinkings did not exceed fifteen feet; that part of it was in the form of native gold, in pieces as large as a bean or a lupin, which lost only one-eighth in the fire; and that the rest, though requiring more purification, gave a considerable product; that some Italians, having associated themselves with the barbarians to work the mines, _in the space of two months the price of gold fell one-third throughout the whole of Italy_; and that the Taurisci, having seen this, expelled their foreign partners, and sold the metal themselves.”[29] Were anything of this nature to happen—though very far less in degree—as a consequence of the recent discoveries, it could not fail to produce a serious monetary revolution, and much pecuniary distress, both individual and general, which the wisest legislation could neither wholly prevent nor remove. Such a sudden and extreme effect many have actually anticipated from them, and measures have, in consequence, been taken, even by Continental governments, such as are detailed in the following passage from Mr Wyld’s pamphlet:— “Among the many extraordinary incidents connected with the Californian discoveries, was the alarm communicated to many classes, which was not confined to individuals, but invaded governments. The first announcement spread alarm; but, as the cargoes of gold rose from a hundred thousand dollars to a million, bankers and financiers began seriously to prepare for an expected crisis. In England and the United States the panic was confined to a few; but, on the Continent of Europe, every government, rich and poor, thought it needful to make provision against the threatened evils. The governments of France, Holland, and Russia, in particular, turned their attention to the monetary question; and, in 1850, the government of Holland availed itself of a law, which had not before been put in operation, to take immediate steps for selling off the gold in the banks of Amsterdam, at what they supposed to be the then highest prices, and to stock themselves with silver. This operation was carried on concurrently with a supply of bullion to Russia for a loan, a demand for silver in Austria, and for shipment to India; and it did really produce an effect on the silver market.