One must remember the peculiar conditions in which he was placed in being always surrounded by creatures whom he could only keep attached to his person and to his ambition by satisfying their greed for gold.

When he had annexed Matabeleland it had been principally in the expectation that one would find there the rich gold-bearing strata said to exist in that region.

Unfortunately, this hope proved a fallacious one.

Although thousands of pounds were spent in sinking and research, the results obtained were of so insignificant a nature, and the quantity of ore extracted so entirely insufficient to justify systematic exploitation, that the adventurers had perforce to turn their attention toward other fields.
It was after this disillusion that the idea took hold of Rhodes, which he communicated to his friends, to acquire the gold fields of the Rand, and to transform the rich Transvaal into a region where the Chartered Company and the South African League would rule.

Previous to this, if we are to believe President Kruger, Rhodes had tried to conclude an alliance with him, and once, upon his return from Beira to Cape Town, had stopped at Pretoria, where he paid a visit to the old Boer statesman.
It is quite likely that on this occasion Rhodes put in a word suggesting that it would be an advantage to the Transvaal to become possessed of an outlet on the sea-board, but I hardly think that Kruger wrote the truth in his memoirs in stating that when mentioning Delagoa Bay Rhodes used the words, "We must simply take it," thus associating himself with Kruger.
Cecil Rhodes was far too cute to do any such tiling, knowing that it would be interpreted in a sense inimical to his plans.