96. Why isn't there more interest and activity in recovery of 

 sunken ships and treasure? 



There is a great deal of interest in sunken ships and treasures, not 

 only among professional salvors, but also among historical researchers 

 and adventurers, including the armchair variety. From the beginning of 

 time, men have been fascinated by the thought of getting rich quickly; 

 but, for every successful treasure hunter, there are hundreds who don't 

 even meet expenses. 



Unquestionably, gold worth millions of dollars lies on the bottom of 

 the ocean. It has been estimated that 150 million dollars worth of 

 treasure from Spanish ships which sank while crossing from the Caribbean 

 to Spain has never been salvaged. 



^ 



The availability of scuba gear has opened the search beneath the sea 

 to amateurs. Those who search in shallow water (less than 65 feet) are 

 almost certain to be disappointed; most treasure ships in these depths 

 were located and salvaged soon after their loss. 



Waters between 65 feet and 200 feet deep (the effective working 

 depth of scuba gear) offer most hope of finding treasure without ex- 

 penditure of large capital. The hazards of salvage operations in deep 

 water are great, and professional salvors must have a substantive margin 

 of potential profits, because bad weather and equipment breakdown can 

 make the operation expensive. Old wrecks are nearly always covered by 

 coral, sand, and mud. Poor visibility adds to the difficulty of salvage 

 operations. Traditionally, there is an old shark guarding every 

 treasure. 



115 



