Captain Kidd's secret solved

Soldiers stand guard near a 50-kilogramme silver bar which was allegedly recovered by Marine archaeologist Barry Clifford in the wreck of William Kidd's ship. Photo / AFP

A silver bar believed to be the first piece of the long-lost treasure haul of Scottish pirate William Kidd has been found in shallow waters off Madagascar, an island nation off Africa.

The 50kg ingot, engraved with the initials TS and dated 1695 - just three years before Captain Kidd's ship sank - was discovered in a hidden chamber of a wreck by an American diver who has been exploring the bay for 15 years.

If the wreck is confirmed to be Kidd's, it will bring an end to a global search for the privateer's booty that began almost the moment he was hanged for piracy and murder in London 300 years ago.

The bar was guarded by soldiers as it was handed over to the Malagasy President in a ceremony attended by the British and American ambassadors on the Ile Sainte-Marie.

Barry Clifford, the American diver authorised by the Government to explore the area, believes his discovery is just the tip of the iceberg and that hundreds of silver bars may be lying in the chamber he unearthed.

"I don't get excited that often but I was very excited," he told the Daily Telegraph by phone from Ile Sainte-Marie. "Everybody is just in shock."

His team have discovered a total of 13 wrecks in the area known as the Bay of Pirates, because of its popularity with buccaneers in the 17th century.

It claims to have found Kidd's Adventure Galley, which he ordered to be burned and scuttled in shallow water just 10m from shore after most of his crew mutinied - although the shore of which country or island has always been debated.Telegraph Group Ltd