The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1906-07-22
BELT WAS CROSEUS
OF SOUTH AFRICA
Wealthiest Mine Owner the
World Has Ever Seen
COMPARATIVE OBSCURITY
Least Known of the Worlds Very
Wealthy Men-easls Of Wealth
Summed Up In Few
Words.
COMPARATIVE 0BSCURITY

by far the financially greatest of those
amazing multi-millionaires who have
raised themselves on mountains of money
from the gold and diamond mines of
South Africa, He was intellectually richer
than Barney Barnato, incidentally richer
than Cecil Rhodes and he was the wealth.
lest mine owner the world has ever seen,
unless 1t be that King solomon's mines
conferred vaster treasure upon their pos
SCISSOR. Probably Belt himself could not
have stated within millions of dollars
the exact amount he was worth, but the
figure most generally accepted by fnan-
eiers as representing his fortune was ST.
900, 100000, though some estimates run as
low as 100000, 900. 1t has time and again
been declared on good authority that Belt
had long since graduated from the ranks
of the mere multi-millionaire and was a
genuine Millionaire. This in itself is suffi-
Client to indicate that he was remark
able man.
But Belt was remarkable for other rea-
sons than that he possessed one thousand
million dollars He was noteworthy be-
cause he had no point of similarity with
those numerous wealthy men who have
made great fortunes largely through
chance through speculation or through
acts which come periously close to the
sloughs of graft. Belt was not one of
these. He made his money by sheer abil-
ity-the ability to see a situation, the abil-
ity to comprehend what he saw and the
force to make his vision become fact.
In addition to being remarkable for his
ability and for the fact that he made
his money because he had genius rather
l. ,.,IrA ID-4A l.
of his comparative obscurity. To say that
Millionaire is obscure sounds like a par
adox, but in Belts case it was fact
Belt was the least known of the worlds
very wealthy men, and not one person
out of 10000 in London, where he lived
could recognize Belts photograph, and a
great proportion scarcely knew his name.
Belt did not concern himself with fame
or notoriety or advertising. He let his
friend and partner, Cecil Rhodes and
Barney Barnato have these. Mr.. Belt
concerned himself strictly with getting
money.
The basis of Belts wealth may be
summed up In a very few words-the or
ganization Of the South African diamond
industry. 1t was Alfred Belt who per-
eeived, on his arrival in South Africa in
1875, that a fabulous fortune awaited the
man who would organize the industry,
gather into one combination a controlling
interest in the diamond properties and be-
come master of the diamond market of
the world.
Although the credit has frequently been
given wholly to Cecil Rhodes, it was
actually Belt--who arrived in South Afri-
ca years before Rhodes-who first COM
bined and then systematized the diamond
mining industry. This statement is not
to be taken as implying that Rhodes did
not have a large part in the ultimate
incorporation result-a result which
means a genuine trust In diamonds.
Rhodes did have great part In that
achievement.
But young Belt was the first in the field,
he was the first to realize that diamonds
might become so cheap as to be profit
less to mine he was the first to begin
the quiet buying up of scattered and
conflicting claims the first TO see that
there was wealth beyond the fables of
antiquity only in the event that the pro-
ducton of diamonds could be kept down
to the point where they would be freely
absorbed by the nations at the old stan
dard prices,
Belt went to South Africa with every
thing in his favor to undertake the work
he began shortly after he reached the dia-
mond fields He had plenty or money and
was well backed Belt was not a billion
the son of a large merchant in Hamburg,
where he himself was born in 1858. and
he was destined for position as partner
| in the old-established firm of his father.
Belt was given an excellent education,
sent to a university and then taken into
the office OF his father. Just as he be
gan his business career, however, there
was a sudden commerce with the new
South African town of Kimberley.
This commerce promised such develop
ment that his firm decided to send rep
resentative into the new marvel land to
see If the resources of the country just-
fled the big credits which traders in all
manner of supplies and machinery were
demanding from the Hamburg merchants.
While diamonds had been found In the
Orange river country In 1867. in 1870 re-
ports came of even greater diamond finds
in Kimberley, to the northwest. There
was a stampede to the place and by 1875
diamond mining had assumed huge pro-
portions. 1t was in this year that the
young German set forth, going by bull
lock team across Cape Colony, the Free
State the Transvaal, to Kimberley.
He found city of madmen. Thousands
upon thousands had rushed in, taken up
or bought land. and were working the
wonderful blue or yellow clay, filled, as
pudding, with fruit. with the dull stones
which could be cut and polished into
Jewels for which fortunes would be given
In the cities of the world. Everything
was in the widest state of confusion.
There was chaos in the laws, chaos In
the manner of working claims, chaos in
the trade. which competition had already
nearly ruined; there were enormous losses
from thefts; the II. d. B." business
Illicit diamond buying-had grown to
scandalous proportions. Belt was not car
ried away by the fever and madness and
turmoil and wealth. He kept cool. He
began to think. Although only year
past his majority, Belt was excessively
level-headed, self-poised, clear-sghted.
He watched the madmen and their acts
and methods for time, until he under
stood the situation in detail. Then the
cool Young man said to himself two
vords-combination standardization.
Those two words ultimately spelled bill
lionaire for Belt. He sat to work, in his
quiet thorough way, to buy up and OBJ
tain control of many properties; he
welded these into one organization; he in
troduced the most modern and scientific
methods of mining; he handled his dia-
mond output so that prices were restored
and then maintained; he laid the founda-
tjon of the diamond trust. Later Cecil
Rhodes came. Barney Barnato came.
Both entered into diamond mining. Barn
alto owned mines in Kimberley and he
and Belt became partners. Rhodes obtain
ed control of vast workings in Grfqua-
land. Then began the titanic diamond war
Of Rhodes VS.. Belt and Barnato. which
enallv eliminated in the De Beers con-
solidation of all the diamond mines held
70 C0nS0llda-