The Randlords in 1895: A Reassessment

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Abstract
Ever since J. A. Hobson characterized financiers as monolithic and conspiratorial, particularly those who were supposed to have been responsible for manipulating decisively events which led to the outbreak of the South African war, historians have stressed the need to examine their financial activities. However, the South African goldmining financiers have not been as thoroughly scrutinized as the politicians (Chamberlain and Kruger) or the administrators (Loch, Rosmead and Milner). Rhodes, of course, has been much studied, but more as politician and imperial strategist than as a Randlord. One recent exception to this neglect is G. Blainey's study based on an examination of mining techniques and technology. He asserts that a certain sector of the mining industry was hard hit by the policies of the Transvaal government, and that it was Randlords from this deprived sector (the deep-level operators) who triggered the Johannesburg uprising. What follows, based on the records of the mining houses, attempts to answer several questions about the key Randlords in 1895 which have often been raised but not satisfactorily answered. How monolithic and conspiratorial were the Randlords? What devices did they use to generate capital and take profits? What in 1895 were precisely their financial requirements and expectations? Was there, as Blainey suggests, a common concern about capital wants and anticipated profits which distinguished Randlords who participated in the attempt to overthrow Kruger's republic in 1895 from those who did not? II Groups which search for profits are no more free of internecine disputes than groups which seek power.

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