The Philippine Islands have long been known as one of the localities in southeastern Asia, rich in gold, which fact attracted the Spaniards and led to their occupying the islands as early as the sixteenth century. According to old records, when the islands were discovered by the Spaniards, their inhabitants were wearing various ornaments of gold that they had obtained, mostly from placers. The Philippines thus seem to have been an outstanding region for "gold culture". The writer believes that the"gold culture" of the Philippines strongly influenced the aborigines of the eastern coast of Formosa, including Botel Tobago (Kotosho). The early voyagers, such as W. DAMPIER and J. MEARES, have left it on record that the inhabitants of the Batanes Island greatly esteemed the gold that abounds in the island, wearing it in the form of earrings and bracelets. In Kotosho, also, which seems to be closely related to the Batanes Island, culturally, gold is valued above everything else. According to Yami legend, the god, "Tauruto", lowered a golden ladder, or "Obai ", from heaven, on which sat the first human being. Today, it is not a rare sight to see members of the Yami tribe of the island possessing gold pellets or golden breast ornament of cocoon-shape, called the "Obai", which is believed to atone for any murder that they have commited. They say that gold was formerly obtained from the Batanes.

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