GOLD: 18-K. Beachhead

South Africa's gold country, richest in the world, has long been the envy of U.S. capitalists. The fabulous Ridge of the White Waters (The Rand) has produced over 400 million ounces of gold in the past half century. But while American businessmen were permitted to admire the bonanza, and even to purchase British gold stocks, they were always denied any substantial holdings. The Dark Continent's gold mining was strictly a British-South African show, no uitlanders wanted.

Early this year the exclusiveness of this combination underwent a significant change. British capital, once exported in large amounts, was kept at home by rigid...

Want the full story?

Subscribe Now


Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!