Silver--the Most Remarkable Discovery Of The Age

We hare before alluded to the Silver Island of the north shore of Lako Superior, in the British poasess-ious, just below Tbunder Cupe, and same fifieei miles beyoad Fort Williara. The islam is quite smal 1 in dimeawious - say 10( feet by 40 - and the most of it is submerged at high water - a sruall part at ooe end is ubont eight feet abore the lake level. Tbis islund was entered bj the Moctreal M Lu ing Conpauy as par of a tract enibracing 108,000 acre, au the island was subsequently purohasoc of then by Captain Wm. B. Frow (tortu erly of Portage Like, and Superiutcu Jent of the South Pewabio oopper mine1 for bimselí and unsocinti;, iucludinj amoog ihcm Majur Sibli-y, of New Yorl a brotber, we thiuk, of títneral Sibley oi St. Paul. The Montreal Mining Company firs tnade the disoovery thut the ialand oon taineS silver, and by their genis cunk a shaft on tbc isl:iDc] ; but these knew littlo or notbiug about uruiug, and the water coming iu upou thein, lurther working o their miue was abandoued as uselese. I wss only this last suoHftsr that üaptaiu F. and his cüinpany cjinpleted their bar gain with tbe Montreal Coupany for the island, aud secured it by :iying, o ngreeing to pay, 8250, 00U for the eutirc 108,000 acres. Tney 'ent iiuinediatel' to work at improving the mine in u "worknisDÜke marnier." Their first ste wan to Hurrouud the island with criba o timber, tilled with utoue, to serve us breukwater aud ice hreakor; and wittii these cribs a coflcr dam was built, nc puddled with cloy, having ihe effect o making the whole interior of the ishint nearly watrr 'iglt, at least frqm the in truaious of the lako. The next step was to eet up two larg syphou pumps worked by stunm, b whioh tlie iuside was pumped dry, o nearly eo, aud tl has inca beea duik that a very little working of tbe pump daily kecp8 the islatid clear of water en tirely. Then they went to work layiu bare the vein ; and ftow have exposé seventy feet in leugth, aud ünd it to b a true fissure vein, with perpeudicula walls - the vein of silver tnairix beinj, spar with coine little quart ioteroiixed. The veiu is cight feet wid and eye witnesses from tbore stute tha one cjuarter of tliis width it will averag 70 per ceut of pure silver. On the first trial, after the wateL wa gotten out, sis men took out 35,000 worth of BÜver io fuur duyl; aud up to the latest accounts the working has been continued at about thi.f rale. Airead' 123 barre oi nativo silver, csiimated U be wnrth 875,000 to $100.000, have been shipped. The yield of the mine computcl by the ton, is imt less than a dollar to the pound. The mine etnploy about forty ineu, aud the oniupany wil inercase Iheir force immcdiately. The "royalty" paid on tkis to th Englihh giiversni'i'ijt íb quite small - do exceeding one-tweutieth. Eye witncfe es of intelligence, judginent and oxperi ence report thut Cuptaiu Frew will probably take out of nilver, up to the opening of uavigatiou iiext spring, from $1,000,000 lo $3,000,000 in aoney vahw. The steamer Meteor conveyed down the laken on her trip beforo last, sixtytwo barrel of silver. Tuin Silvcr Islnnd is no burubu, but an aetual bona fide uffaii-, iu which the most wonderful re .-uI'h have already been obtaioed, and all bids fair to inake it in yield and rioh uess the most remarkuble miniog dist eovery in this oountry for matiy years. Some mas3es of silvef weut down on tbe Meteor larger and beavier Üiun a man could lift. A part of this islaod vein, say two feet of the eight feet in width, is wonderfully rich, ood it in from this portion that the large silver mnsses are vztraotcd. Other rich mines of silver are reported as haviog beea found on the main north shore in the range of the Silver Island, and Oapt. Hodsoqy of Portage Lake, bas gone East to organizo a oompany to work tb,em.