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The Pamphlet Collection of Sir Robert Stout: Volume 29

Banks and other Money Lenders

page 13

Banks and other Money Lenders.

So in the case of Banks and other money-lending firms and individuals. In proportion to their enormous revenues—paying dividends at rales recently declared, including bonus, as high as 17½ per cent, per annum to their shareholders—what do they spend? They build handsome shops, as paying speculations. They pay local rates for the improvement of the neighbourhoods in which those shops stand, and for the consequent enhancement of the value of those shops and their sites. They pay a few managers, clerks, and servants, as a paying speculation; and even the personal expenditure of those few persons, and the colonial taxes thereon, fall upon the servants and customers, while the shareholders go literally "scot free."

So with all firms and individuals,—greater or less Tollemaches,—whether resident in the Colony or not, who receive, from whatever source within the Colony, an income over and above what they can spend on the necessaries of a frugal life within it.