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The offerings made at Sraddhas if presented to a Brahmana who sells Soma, become converted into human ordure; if presented to a Brahmana who is engaged in the practice of Medicine, they become converted into pus and blood; if presented to one who lives by setting up a deity, they fail to produce any fruit; if presented to one who lives upon the interest of loans they lead to infamy; if presented to one who is engaged in trade, they become productive of no fruits either here or hereafter.
He violated his promises, he collected illegal taxes, he quartered troops on the people, he threw those into prison who would not contribute to his forced loans, or pressed them into the army or the navy. His Archbishop Laud persecuted the Puritans with shameful cruelty.
Historically, 1911 was the lineal descendant of 1900, which again was the offspring of the economic collapse advertised by the great foreign loans of the Japanese war, loans made necessary because the Taipings had disclosed the complete disappearance of the only raison d'être of Peking sovereignty, i.e. the old-time military power.
With wholesome economy such crises may be surmounted in a rich and fertile country. But economy had not been practised for fifty years by the governing classes. As early as 1739 there had been a deficiency in the French finances. From small beginnings the annual loans had grown until, in 1787, the sum to be raised over and above the regular income was no less than thirty-two millions of dollars.
I confine myself for the moment, Sir, to reminding you of these three expressions: 1. No bankruptcies; 2. No augmentation of imposts; 3. No loans. No bankruptcy, either avowed or masked by forced reductions. No augmentation of imposts the reason for that lies in the condition of your people, and still more in your Majesty's own heart.
Clouds, too, obscured his financial horizon; investments in certain mining ventures, entered into with high hopes, turned out a dead loss; the repayment of loans, cheerfully made to friends and relatives, was either delayed or entirely defaulted; and, to cap the climax, the Western Union Telegraph Company, in which most of his fortune was invested, passed one dividend and threatened to pass another.
"There was a man there named Rosario a Portuguese Jew and a very wealthy financier. One reads about him always in the papers. I have heard of him many times. He negotiates loans for foreign governments and has a bank of his own. I left him there last night, playing baccarat. This morning Mr. Weatherley called me into his office and sent me up to the Milan Restaurant with a strange message.
The funds of the churches were first requisitioned; then the judicial deposits, the property of people who had died in the Peninsula, and other unclaimed funds were attached; next, donations and private loans were solicited, and when all these expedients were exhausted, the final resort of bankrupt communities, paper money, was adopted . Then Puerto Rico's poverty became extreme.
The wealth that had flowed in from various sources, such as bequests, presents from foreign potentates or grateful clients at home, loans probably from the same source, to which we must add his wife's considerable dowry, he proceeded to expend in erecting a villa at Tusculum.
Scrubby, impecunious men drift to and fro there, waiting for the gods to provide something easy; and the prudent man, conscious of the possession of loose change, whizzes through the danger zone at his best speed, 'like one that on a lonesome road doth walk in fear and dread, and having once turned round walks on, and turns no more his head, because he knows a frightful fiend doth close behind him tread. In the seven minutes he had been waiting two frightful fiends closed in on Lord Dawlish, requesting loans of five shillings till Wednesday week and Saturday week respectively, and he had parted with the money without a murmur.
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