Oak Island - Treasure Theories

Treasure Theories

There has been wide-ranging speculation amongst enthusiasts as to who originally dug the pit and what it might contain. Later accounts say that oak platforms were discovered every 10 feet (3.0 m), but the earliest accounts simply say that "marks" of some type were found at these places. They also say there were "tool marks" or pick scrapes on the walls of the money pit and that the dirt was noticeably loose and not as hard packed as the surrounding soil. One expedition said they found the flood tunnel at 90 feet, and that it was lined with flat stones. However, Robert Dunfield (a trained geologist) wrote that he carefully examined the walls of the re-excavated pit and was unable to locate any evidence of this tunnel.

The cipher stone, which one researcher is said to have translated to read "Forty feet below two million pounds is buried", was allegedly last seen in the early 20th century (exact dates are a topic of controversy). Some accounts state that Smith used it as a fireback in his fireplace, while others claim it was last seen as a doorstep in a Halifax bookbinder's shop. The accuracy of the translation, whether the symbols as commonly depicted are accurate, or if they meant anything at all, remains disputed. Barry Fell, the author of the controversial books America B.C. and Saga America, was sent a copy of the inscription by the chief archivist of the Nova Scotia Archives in the late 1970s. Fell, whose publications consisted largely of alleged translations of inscriptions on stones found elsewhere in North America, concluded that the symbols were similar to the Coptic alphabet and when translated implied that the people needed to remember their God or else they would perish.

Man-made structures under Oak Island do in fact exist as discussed in many books, including a book written by Lee Lamb, daughter of Robert Restall. Whether these structures were constructed by people hiding a treasure, or are the remains of prior excavation attempts, is unknown.