Over and above hopes that Waratah was still afloat and souls unharmed, there was the monetary issue of salvage reward. Searches for the lost Waratah were extensive, almost unprecedented. One imagines that this was based solely on humanitarian grounds. Not so. The figures quoted above were nothing short of a fortune and if Waratah had been confirmed carrying more than 100 tons of gold, one can only imagine how this would have translated before the Admiralty Court. In fact, the searches which continued well into the following year are very suggestive of a significant gold component on board - recovery, imperative.