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

Note 91 — PART II

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It was not uncommon for a person worth ten thousand dollars to borrow 40 more from the public funds. Of these about 25 or 30,000 were shipped, and the remainder kept at home. If the ship was lost, the accounts were settled; and if she came back, the interest was always repaid,—which of course entitled them to borrow again, till a fortunate loss made them independent. And where every body did this, no one thought it incorrect. ↑

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