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The Philippine Islands, 1493-1898, Volume 51, 1801-1840

Note 82 — PART II

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Many years ago, a complete set of forging machinery was sent out on speculation; it was sold as old iron, for no one of course would speculate in mines, when they could with so much more ease obtain 100 per cent. for their capital in the trade to Acapulco. ↑

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