138
SIR ERNEST OPPENHEIMER
already
beginning to think of the longer-term future. 'Our Anglo American
Corporation policy seems to be quite clear, and that is to co-operate
withBarnato's in trying to re-establish confidence among the producers,
and in the trade generally', he wrote to Louis in December 1923. 'With
that object in view, it becomes essential to remain in a strong cash
position, so as to do our full share in any business that may come
along. I am certain that the diamond business will, in future, offer
just as big chances as it has done in the past.'
♦ IX ♦
It
will be obvious from the foregoing section that though the Anglo
American Corporation became a member of the Syndicate as from the
beginning of January 1924, a certain undercurrent of suspicion and
antagonism remained within the ranks of the Syndicate itself. To
understand subsequent events it is necessary to bear in mind, first,
that the inter-producers' agreement was due to expire at the end of
1924, and, secondly, the relations between producers and the Syndicate
were governed by short-term contracts. At the end of 1923,
consequently, it became necessary not only to conclude another
agreement between producers and the Syndicate for the year 1924, if
that were possible, but also to initiate discussions on the future of
the inter-producers' agreement after the end of 1924 and on the terms
which were then to govern the relations between the producers and the Syndicate.
Negotiations,
which were almost continuous during 1924, were made extremely difficult
for three quite separate sets of reasons. The first arose out of the
'unstable' equilibrium within the Syndicate itself, which was the immediate cause
of the disruption of the Syndicate at the end of 1924. The second arose
out of differences of view between the Syndicate as such and the
producers as such, and though these differences of course concerned
individual technical points, they were influenced by a feeling on the
part of producers against the Syndicate as a whole. The third obstacle
to a speedy conclusion of these vitally important negotiations was the
attitude of the Government. The Administrator and the Union Government
had, of course, veto and control powers in respect of South West Africa
and this in itself complicated the position, for such powers
represented an indirect power over all the producers and the Syndicate as well, for by refusing consent
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