This pamphlet sets forth the basic foundations of Alchemical philosophy and tradition: covering its origins as both a sacred science and a system for psychological transformation. Alchemy has fascinated the human mind for at least three or four thousand years, and while it is still a very complicated situation, advancements in various sciences have had a bearing upon our interpretation of the alchemical theory. Alchemy is based primarily upon one concept, namely, that an element can be transformed into another element. In other words, it is possible to take various substances, by art change them and by so doing accomplish any one of a number of symbolic or literal ends, one of which was the transmutation of base metals. Another was the transmutation of artificial precious stones so that they became identical with the genuine stones. A third end was the creation of a universal medicine by which all diseases could be treated, this medicine itself having as its primary objective the transmutation of the elements within the body of man.