But the increase in the supply of gold has had another effect. It has, concurrently with an increase in the production of silver, helped to reduce the relative value of the latter metal. The consequences are curious. Previous to 1816, silver was what is termed a legal tender in England to any amount; but in that year the sovereign was made the sole standard of the pound sterling. In other words, if one man be owing another, say, a hundred pounds, the latter is not legally bound to accept payment doled out in either silver or copper. Other countries have since de-monetised silver, which has thus become so depreciated in relation to gold, that Mr Leighton Jordan, in an able book called _The Standard of Value_, affirms that the interest on the National Debt has now to be paid in a currency fifteen to twenty per cent. more valuable than was in the option of the lender prior to 1816. According to the bi-metallists, the de-monetisation of silver has depreciated the metal, and unduly appreciated gold, or at all events has prevented the cheapening of the latter metal, which should have resulted from the greater abundance of silver. Against the plea for a dual standard there is a great deal to be urged. The question, however, is too wide to be entered upon at this stage, and we will content ourselves with stating one great objection to bi-metallism, and that is, that it would be inoperative unless its adoption were universal; and that so deeply is gold rooted in the affections of mankind, the universal adoption of silver also, is practically hopeless. Into the world of commerce, into the arena of industry, into the storehouses of wealth, ‘’tis Gold which buys admittance.’ BY MEAD AND STREAM. BY CHARLES GIBBON. CHAPTER XXI.—DREAMS. And there was a night of happy wonderment at Willowmere—for, of course, it was to Madge that Philip first carried his story of the Golconda mine which had been thrown open to him. The joy of Ali Baba when the secret of the robbers’ cave was revealed to him was great—and selfish. He thought of what a good time he would have, and how he would triumph over his ungracious brother. Philip’s joy was greater; for his treasure-trove set him dreaming fine dreams of being able to ‘hurry up’ the millennium. On his way from the city his mind was filled with a hailstorm of projects of which he had hitherto had no conception. Naturally his imagination grew on what it fed; and as he earnestly strove to shape into words his visions of the noble works that could, would, and should be done in the near future, his pulse quickened and his cheeks glowed with enthusiasm.