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EXTRACT FROM THE CHAPTER TITLED

GOLDￂﾠ PRODUCTION IN THEￂﾠ
ZUID-AFRIKAANSCHE REPUBLIEK

THE DISCOVERY OF GOLD CHANGED THE FORTUNES OF THE TRANSVAAL. THE FIRST DISCOVERY WAS MADE IN 1872 AT THE EERSTELING GOLD FIELD IN THE PIETERSBURG GREENSTONE BELT (CLOSE TO MODERN DAY POLOKWANE). THIS WAS FOLLOWED IN 1873 BY THE DISCOVERY OF ALLUVIAL GOLD AT PILGRIM'S REST AND SURROUNDING AREAS. AN INTERESTING CONNECTION BETWEEN PILGRIM'S REST AND THE KRUGER MILLIONS IS DESCRIBED IN A LATER CHAPTER. THESE EARLY GOLD DISCOVERIES SLIGHTLY IMPROVED THE FINANCES OF THE ZUID-AFRIKAANSCHE REPUBLIEK AND EVEN ALLOWED PRESIDENT THOMAS BURGERS TO STRIKE THE FIRST GOLD PONDE FOR THE REPUBLIC 1874. UNFORTUNATELY, BY 1876, HE WAS UNPOPULAR AND THE REPUBLIC WAS SLIDING INTO BANKRUPTCY. THE UPRISING OF THE NATIVE TRIBE, PARTICULARLY THE PEDI TRIBE UNDER CHIEF SEKUKUNI, ALSO CAUSED SECURITY CONCERNS AMONGST THE BURGHERS. THIS ALLOWED BRITAIN TO ANNEX THE TRANSVAAL WITHOUT A SHOT BEING FIRED ON THE 12 APRIL 1877.

DURING THIS PERIOD OF POLITICAL TURMOIL, PAUL KRUGER ROSE TO PROMINENCE. HE WAS ONE OF THE THREE LEADERS AT THE HISTORIC PAARDEKRAAL ASSEMBLY WHERE 6,000 BURGHERS PLEDGED TO REGAIN THE INDEPENDENCE OF THEIR REPUBLIC. THE PAARDEKRAAL MONUMENT IN KRUGERSDORP WAS LATER ERECTED AT THIS HISTORIC SITE. THE RESULTING FIRST WAR OF INDEPENDENCE BROKE OUT ON THE 16 DECEMBER 1880 AND ON THE 26 FEBRUARY 1881 THE BRITISH SUFFERED A HUMILIATING DEFEAT AT THE BATTLE OF AMAJUBA. IN 1883, PAUL KRUGER WAS ELECTED AS PRESIDENT OF THE TRANSVAAL AND HE RETAINED THIS PRESIDENCY DURING THE NEXT THREE ELECTIONS.

AFTER THE TRANSVAAL REGAINED INDEPENDENCE, A FURTHER GOLD DISCOVERY WAS MADE IN THE BARBERTON AREA IN 1883. THE RESULTING ECONOMIC BOOM IN THE AREA RESULTED IN THE ESTABLISHMENT OF A STOCK EXCHANGE. SOME EXCEPTIONAL GOLD DISCOVERIES WERE MADE AND THE FIRST 50 TONS OF ORE AT THE FAMOUS GOLDEN QUARRY PRODUCED NEARLY 300 OUNCES OF GOLD. THE BARBERTON GOLD FIELD PRODUCED APPROXIMATELY 252,553 KG OF GOLD FOR THE PERIOD 1883 TO 1983. THIS IMPORTANT DISCOVERY WAS NEVERTHELESS SOON DWARFED BY PRODUCTION IN THE WITWATERSRAND BASIN.