which was very nearly the supposed yield of all known mines, when Mr M’Culloch’s estimate was made. If we add a half to all these items—as we conceive a very liberal allowance—we shall have a round sum of thirteen and a half millions sterling of gold and silver together, as sufficient to supply all the wants of increasing use in the arts, waste in coinage, extending commerce, colonial settlement, State extension, and Eastern exportation. But the actual produce for 1851 is estimated at £30,000,000 and if we deduct 13,500,000 ——————————— there remains a balance of £16,500,000 —irrespective of all increase which is likely to be caused by the extension of the Australian gold field, and by the operation of the various other causes we have adverted to in the present article. This surplus also will consist chiefly of gold; so that whatever interest may otherwise attach to the curious fact stated by Mr Wyld, it is clear that his conclusion is premature, that no alteration is to be looked for in the relative market values of the two precious metals. Only a greatly increased activity and produce in the silver mines can prevent it. But, independent of the question as between the two metals, there remains as certain the influence of the surplus gold supply upon the general bullion and other markets. The immediate demands, or actual outlets for increased coinage, may for a few years absorb even this large surplus, but its final action in lowering the comparative value of gold, and in altering nominal prices and values generally, cannot be reasonably doubted. LIFE OF NIEBUHR.[30] The name of Niebuhr is so inveterately associated with certain profound discussions in historical criticism, that we must beg our readers to read twice over the notice at the foot of our page, in order to assure themselves that it is not the History of Rome, but the Life of its author, that we are about to bring before their attention. We shall hardly, perhaps, be able to abstain from some glance at that method of historical criticism so justly connected with the name of Niebuhr, but it is the life and personal character of the man which will occupy us on the present occasion.