Special Sub-Topic: "Gold'en Transition" : II Click Here To Play: "Gold'en Transition" : II

The first Guinea issued by Charles II (1663) had a little elephant imprinted on it. Why?

It was the sign of the ‘Africa Company’. Initially, Guinea was defined as the equivalent of £1. The sign of Africa Company was taken because the guinea was made from gold imported from West Africa by the newly created 'Africa Company'.

The first Guinea had its edges inscribed with a logo, which was said to have been taken from Cardinal Richelieu’s purse clasp. Which of the following was the logo?

Decus et tutamen. It means 'An ornament and a safeguard' - and has appeared on the edge of British £1 coins since their reintroduction (as chunky cupro-nickel pieces) in 1983. The main purpose on the gold guinea was to curb clipping. Cardinal Richelieu was the patron of Pierre Blondeau, who along with Nicholas Briot, were considered the pioneers of 'edging' or 'graining' coins.

Who wrote "Representation to the Right Honorable the Lords Commissioner of His Majesty’s Revenue" or just "Representation" for short? (Hint: He was the Warden of the Royal Mint at that time.)

Sir Issac Newton. The document was written in the typical Newton style – highly analytical and laborious. It contained nothing but essays describing the weights of gold and silver used in various countries.

Which famous economist's, then relatively unknown, letters to the editor of the "Morning Chronicle" about Britain's shrinking gold reserves and depreciation of the pound in the foreign exchange markets led to the forming of the 'Bullion Committee'?

David Richardo. From 1808, Gold prices were on the ascent. The Gold, in a guinea was valued as £3 17s 10.5d to the ounce (the official British gold standard since 1719) while in the market, it was fetching over £4.

The 'Bullion Committee' report contained the detailed reports of many financial experts, academia. Only one name and his particulars was not mentioned. Who, according to most historians, is widely accepted, as this Mr. Incognito?

N.M Rothschild. His comments were mentioned on Page 19. According to the detailed commentary on page 25, this witness was merely referred to as a 'very eminent Continental Merchant'.

What is the main reason why the Californian prospectors were called the "49-ers"?

President Polk announced the ‘new find’ in 1849. The announcement was made during the 'State of the Union' address to the Congress and that heralded the actual start of the big rush.

Gold was discovered at Sutter’s Mill by James Marshall, who worked as the chef mechanic for Sutter. Sutter owned vast properties n the Sacramento Valley. He ruled over it like an emperor. What was the name he called his 'Empire'?

New Helvetia. Sutter was born in Switzerland, however he had to flee from there to escape his creditors. Hs journey took him to many other places before he reached California. However in the true sense of the 'Curse of Gold', he never made it big because his kingdom was soon taken over by squatters. He died in 1880 (at the age of 77), still trying to repossess his land.

The California rush was followed by the discovery of gold in the Wellington area of Australia. Whose pioneering efforts led him to discover gold 'down under'?

Edward Hammond Hargraves. He had initially gone to U.S.A. during the 'rush' spent his last dollars to come to Australia. However he noticed similarity of terrains at Wellington and the gold area of California. He struck gold while panning at a tributary of the MacQuarie River.

Gold was discovered in South Africa in 1886. Who takes the credit for the initial discovery?

George Harrison. He discovered it when he was digging up stone to build a house for his widowed neighbor (?) at a place very close to Johannesburg.

The discovery of gold in South Africa wasn't exactly a success because of the difficulty in mining. What was the name of the new process that finally helped the mining corporations in their endeavours?

MacArthur Forest Cyanidation Process. Developed by Scotsmen, John MacArthur and Robert and William Forest, this technology was offered to the mining corporations for a huge royalty. However the latter soon rebelled against the patents of the process. (MacArthur refused to bring down the royalty fee). The patents were declared void soon thereafter. Again 'The Curse of Gold' ensured MacArthur died penniless in 1920.