On the Randt the California scenes of ’49 were being re-enacted. Tents and houses of sheet iron were erected with picturesque lack of beauty and uniformity, and during the latter part of 1886 the community had reached such proportions that the Government marked off a township and called it Johannesburg. The Government, which owned the greater part of the land, held three sales of building lots, or "stands," as they are called in the Transvaal, and realized more than three hundred thousand dollars from the sales. The prices of stands measuring fifty by one hundred feet ranged from one dollar to one thousand dollars. Millions were secured in England and Europe for the development of the mines, and the individual miner sold his claims to companies with unlimited capital. The incredibly large dividends that were realized by some of the investors led to too heavy investments in the Stock Exchange in 1889, and a panic resulted. Investors lost thousands of pounds, and for several months the future of the gold fields appeared to be most gloomy. The opening of the railway to Johannesburg and the re-establishment of stock values caused a renewal of confidence, and the growth and development of the Randt was imbued with renewed vigour. Owing to the Boers’ lack of training and consequent inability to share in the development of the gold fields, the new industry remained almost entirely in the hands of the newcomers, the Uitlanders, and two totally different communities were created in the republic. The Uitlanders, who, in 1890, numbered about one hundred thousand, lived almost exclusively in Johannesburg and the suburbs along the Randt. The Boers, having disposed of their farms and lands on the Randt, were obliged to occupy the other parts of the republic, where they could follow their pastoral and agricultural pursuits. The natural contempt which the Englishmen, who composed the majority of the Uitlander population, always have for persons and races not their intellectual or social equals, soon created a gulf between the Boers and the newcomers. This line of cleavage was extended when the newcomers attempted to obtain a foothold in the politics of the country. The Boers, who had been suddenly outnumbered three to one, naturally resented the interference, especially as it came from persons who had no desire to become permanent residents of the country, and who wanted a voice in the conduct of the national affairs only as a means to attain their own ends, without caring about the welfare of the entire republic.