They had gathered far too much experience concerning the state of things in South Africa to nurse illusions as to the results of a war which was bound to put an end to the corruption of the Transvaal Republic.

They would have preferred infinitely to let things remain in the condition into which they had drifted since the Raid, because they understood that a strong British Government would be interested in putting an end to the abuses which had transformed the Rand into an annexe of the Stock Exchange of almost every European capital.
But, as the war had broken out, they preferred that it should end, in the establishment of a regular administration which could neither be bought nor persuaded to serve interests in preference to the public.

They did not relish the possible triumph of a single man, backed by a powerful financial company, with whom they had never lived upon particularly affectionate terms.
Rather than see South Africa continue under the influence which had hitherto held it in grip, the magnates preferred to associate themselves with Sir Alfred Milner to bring about as soon as possible a Federation of the different South African States, where there would be no place for the ambition of a single individual, and where the domination of one financial company would become an impossibility.

These magnates were reasonable people after all, quite content, after they had taken the cream, to allow others to drink.

The fever for gold had left them.