Let this be as it may, we found nothing of any value in the agglomerate in which the Egyptians had excavated. But, in the immediate neighbourhood of the cave-hills, we found something else: something that men coveted thousands of years ago, as they do to-day, but which, singularly enough, escaped the miners of the Pharaohs, and was not looked for by them on the Elgon--namely, gold, and that in large rich veins. It was accidentally discovered by one of the engineers engaged in the examination of the caves, who, significantly, was at first seized with horror at his discovery. He was an enthusiastic young Spaniard, who had only recently reached Freeland, and he saw in his discovery a great danger for those Freeland principles which were so passionately worshipped by him, and he therefore at first resolved to keep it secret. He reflected, however, that some one else would soon come upon the same trace, and that the evil which he dreaded would become a fact. He therefore decided to confide in those under whom he was acting, and to point out to them the danger that threatened the happiness of Freeland. It was very difficult to make Nunez--as this young enthusiast was named--understand that there would be little hope for the security and permanent vitality of the institutions of Freeland if the richest possible discovery of gold were able to put them in jeopardy, and to convince him that gold-mining was like any other kind of work--that labour would flow to the mines as long as it was possible to earn as much there as in any other branch of production, and the result of his discovery could only be that of slightly raising the average earnings of Freeland labour. And so it was. Nunez had not erred in his estimate of the productiveness of the mines; the newly opened gold-diggings soon yielded some 12,000,000£ a year. The managers of the central bank utilised this new source of wealth in gold for the establishment of an independent Freeland coinage. Hitherto the English sovereign had been our gold currency, and we had reckoned in English pounds, shillings, and pence. Now a mint was set up in Eden Vale, and the coinage underwent a reform. We retained the sterling pound and the shilling, but we minted our pound nearly one per cent. lighter than the English one, so that it might be exactly equal to twenty-five francs of the French or decimal system of coinage; the shilling we divided, not into twelve parts, but into a hundred.