March 27, 1886
Gold! Gold! Gold! New discovery in South Africa to Flourish Wealth
New goldfields were discovered in the Cape colony 2 weeks ago and anticipation of fresh wealth is on the rise. From a financial perspective, I predict that the gold will be identical to the South African diamond finds. Like diamonds, gold is another discovery of abundant natural resource from colonial Africa, therefore will be beneficial to Britain’s economy.
Diamonds were first discovered in 1869 in Kimberly located in Griqualand West, a disputed territory between Britain and the Orange Free State. In 1876, British bought the Orange Free State claim settling the dispute and making the land rightfully Britain’s to mine on.(1) The chief man in Britain’s capitalist mining industry was entrepreneur Cecil Rhodes. First buying a claim to the De Beers mine in 1871, Rhodes continued to buy diamond mines in Southern Africa, creating De Beers Mining Company along with partner Charles Rudd.(2) Already taking control of the diamond trade, Rhode’s DeBeers Mining Company has also invested in the new gold discovery, creating a promising future for British wealth.
Rhodes has made colonizing beneficial to the economy, as well as expanding British territory. Prior to colonization, the African economy was mainly agrarian and provided little profit. Under Rhode’s leadership, South Africa continues to urbanize, making their economy of British interest. By committing himself to a cause hesitated by the government, Rhodes has created wealth for our country where few would expect it. Specifically in diamonds and now gold, South Africa has become tied to us as a supplier of raw materials, creating an alliance for future progress.
Dominating the diamond trade has also given Britain more global authority. Through trade and colonization, South African land is now under our control, making us a greater threat to other world powers. Similar to the diamond wealth, Rhodes has aided immensely to the expansion of British territory. Wishing to drive British power to the north, British territory is increasingly expanded.(3) Rhode’s vast ambitions and plans for greatness of the British empire have made colonization worthwhile in Africa and more great fortune is clear in the future.
Footnotes
1.Denis Judd, Empire: The British Imperial Experience, from 1765 to the Present (Great Britain, 1996), 113, 118-119.
2."DeBeers Consolidated Mines, Ltd." Encyclopedia Britannica. 2005.
3.World Book Encyclopedia, 1988 ed., s.v. "Rhodes, Cecil John."
Images
“History Cecil Rhodes 1853-1902.” Winnipeg School Division. 6 Dec. 2005 <http://www.wsd1.org/cecilrhodes/crsinternet/CRS_INFO/history/history.html>.
“Kimberly Mines.” Institute of Civil Engineers. 8 Dec. 2005 <http://www.ice.org.uk/knowledge/library_image_gallery.asp?faculty=&Doctype=&searchString=&whichpage=6/>.
“Orange Free State.” World History Plus. 8 Dec. 2005 <http://www.worldhistoryplus. com/o/orangeFreeState.html>.