The Contemporary Review, January 1883: Vol 43, No. 1Various
Science
The Contemporary Review, January 1883: Vol 43, No. 1
Various
Arts -- Periodicals; Literature -- Periodicals; Political science -- Periodicals
More important still is the estate of seventy square miles in the plain
of Esdraelon, now in the hands of Mr. Sursuk, a wealthy banker at
Beyrout. Mr. Oliphant gives an account of the enterprise. "The
investment," he adds, "has turned out eminently successful; indeed, so
much so, that I found it difficult to credit the accounts of the
enormous profits which Mr. Sursuk derives from his estate."[63]
From Mr. Oliphant's description, I turn to the excellent Commercial
Report, written by Vice-Consul Jago, in plain prose, and I find he thus
speaks of the undertaking:--
"Some few years ago, the wealthiest native Christian in the
country, tempted by the low price of land near Acre offered for
sale by the Government, purchased a large tract, containing thirty
villages, for £18,000. The revenue accruing to the Government was,
prior to the purchase, between £T.1,500 and £T.2,000 per annum,
owing to the poverty of the peasants, and consequently little
production.
"Large sums were spent in importing labour from other districts for
cultivation, and in providing the peasants with proper means. Under
judicious management the speculation paid well, as much as thirty
per cent. on capital, besides increasing the taxes paid to the
Government to £5,000. The peasantry likewise benefited, being
assured of protection and prompt return for their labours. This
state of prosperity produced local intrigue and jealousies. Actions
of ejectment were brought to which _the government title-deeds
proved no bar_. Journeys to Constantinople, and endless special
commissions were the result, and it was only after a liberal
expenditure of money, time, and labour, that the judicial courts of
the country gave a decision, which, it is hoped, has set the matter
finally at rest.... In short, a capitalist wishing to employ money
in agriculture must be prepared to light his way, as it were, inch
by inch, and that, too, with the weapons of the country."[64]
Apparently Mr. Oliphant would have no objection to use the weapons of
the country. At least he seems ready to base the successful launching of
his Company on such considerations. Looking out over the province of
Ajlun, which is a fertile region about forty miles long by twenty-five
in width, he exclaims: "I feel no moral doubt that £50,000, partly
expended judiciously in bribes at Constantinople, and partly applied to
the purchase of land, not belonging to the State, from its present
proprietors, would purchase the entire province, and could be made to
return a fabulous interest on the investment."[65]
I need only suggest that where investors embark their capital in
philanthropic undertakings for "fabulous interest," it might be well if
they reflected on the character of their proposed security and the means
used to secure it.
Public-domain text, read in full here on John Shaqi.
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