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It was broken by the arrival of two more guests, who entered together. These were Prior, the prosperous City coffee importer, and Lang, the stockjobber, well known in his own circle as an amateur prestidigitator. Backhouse was slightly acquainted with the latter.
The first and most prominent effect which it would produce would be to protect the market alike against redundant or deficient supplies of foreign fabrics, both of which in the long run are injurious as well to the manufacturer as the importer.
At the Lancefield Factory there are upwards of 1000 hands employed, principally women, and the annual output of cotton is nearly equal to that of some of the largest mills in Manchester. Besides being a cotton-spinner, however, Mr. Graham is also a wine importer on a very considerable scale, and is largely engaged in the East India produce trade.
In a few years the firm was enabled to import the foreign materials needed, by the cargo, thus saving the profit which they had hitherto been compelled to pay the importer.
The Camorrist nodded, picked up the money, recounted it, and removed three hundred dollars, handing the rest to the importer. "I have deducted the camorra," said he. The bravos formed a line along the cellar to the door, and, as the importer passed on his way out, each removed his hat and wished him a buona sera.
"All Latin countries are corrupt," announced the importer "always have been and always will be. They thrive under oppression. Politics is purely a business proposition with those people. However, I dare say this uprising won't last long." O'Reilly welcomed this trend of the conversation; anything was better than fulsome praise, and the discussion would delay the coming crash.
"You shall be paid," said the Camorrist. Two weeks later the importer was summoned to a cellar on Mott Street. The Camorrist conducted him down the stairs and opened the door. A candle-end flaring on a barrel showed the room crowded with rough-looking Italians and the debtor crouching in a corner. The Camorrist motioned to the terrified victim to seat himself by the barrel.
The Dominican government took no warning from previous disasters but continued in its course of reckless debt contraction. In order to equip warships and arsenals it borrowed money right and left at rates of interest which ranged anywhere from 18 to 30 per cent per annum. The loans were guaranteed by customs revenues which the creditors were authorized to collect direct from the importer.
Beginning life as a commercial traveller for an English firm, he soon became a large cotton importer, and when in 1840 a feverish activity was produced in the Russian manufacturing world by the Government's permission to import English machines, his firm supplied these machines to the factories on condition of obtaining a share in the business.
The importer demands a profit on the amount of revenue tax he has paid as well as on the amount he pays for the goods. This results in greatly increasing the burdens of the poor. The revenue tax recently imposed by Great Britain of three pence per cwt. on wheat and five pence per cwt. on flour resulted immediately in the addition of one penny to the price of the four-pound loaf to the consumers.
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