As it was, the situation was one of alarm for capital already invested—­a stake then of over 300 millions sterling in a country where more than half of the population were in almost open revolt against a Government commanding very large repressive forces, and resolved to maintain its stand.

British intervention appeared to be the only means of salvation to restore security, and to give a fillip to the brilliant prospects of the country, for the good of the burgher estate as well as for the sake of Uitlanders.

As the Government continued deaf and obdurate to representations, other means were sought for.  No wonder the Uitlanders longed for a change, not by any means with the object of altering the style of Republican status, but to get the Augean stable of misgovernment cleansed, to escape oppressive and rapacious Boer domination.

The farcical failure of Dr. Jameson was the outcome of those endeavours.  The unspeakable cowardice of his Johannesburg confederates was the chief feature of that puny attempt.  Laurels, like those gained by Lord Peterborough, Warren Hastings, or Lord Clive, were not decreed to that ill-advised emulator.

Nothing could have been more propitious than that very Jameson incursion to fan race hatred and to advance the projects of the Afrikaner Bond—­“Afrika voor de Afrikaners,” for, whilst no one acquainted with the facts can for a moment doubt the guilt of the Transvaal Government for having systematically provoked that attempt at revolution, “Bond” propaganda and paid journalism had a rare chance to set up the theory that annexation on behalf of Great Britain had been foully planned—­the Prince of Wales even being an abettor of the attempted coup d’etat purely to gratify the lust of greed for the gold and diamonds of the poor innocent Boers.  No terms were too vituperative to denounce the enormity.  Millions of honest persons all over the world were deluded—­there was a bitter cry of almost universal indignation.  The Boer Government posed as innocent; the designs of the Afrikaner Bond were not even suspected—­its ranks, in sympathy with those delusions sped on filling up faster than ever, and the father of lies was scoring another very sensible triumph.

In lieu of reforms, Bond projects and armaments were secretly pursued with redoubled vigour towards the climax which should install Afrikanerdom supreme in South Africa, financially as well as politically.

BLOEMFONTEIN FRANCHISE CONFERENCE—­BOER ULTIMATUM

Capitalists had already begun to feel nervous about the final security of their investments; operations and credit became restricted, fresh projects were abandoned and a persistent withdrawal of capital set in.  Trade and prosperity were progressively waning, accompanied with still more ominous portents for the Uitlanders’ future.  It all meant a very extensive weeding out of investments under enormous