As early as 1921, it was discovered that New Providence had an incredibly valuable natural resource. This natural resource was an excellent building material, because it proved fire retardant and extremely durable, no matter the climate. Oolitic limestone, a pure form of limestone, had been uncovered in New Providence.
Historically, it was assumed the Bahama Islands were created from coral beds. Discovering that limestone and not coral was the underlying stone, would prove to be an important future economic factor, in the development of The Bahamas.
In 1921, The Bahamas Stone & Construction Company, was making ready to reap up to a 1,000% profit margin from this natural resource now said to be Oolitic Limestone.
1921 was the beginning of the great rum running era for the Islands. As liquor revenue began to pour in, so did new building works. Construction was taking off, as large scale land sales, to foreign investors began.
New Providence was undergoing substantial expansion. Hills were being levelled to make way for new roads. From this, samples of the pure white rock, were sent abroad for analysis. What came back was commercially significant for those in the stonework, construction and excavating business.
Large scale exportation of Bahamian natural resources, such as wood from cleared down pine forests and Oolitic limestone from Nassau’s levelled hills, began as the commercial expansion of New Providence took off in 1921.