Book-bot.com - read famous books online for free

Travels in Arabia; comprehending an account of those territories in Hedjaz which the Mohammedans regard as sacred by John Lewis Burckhardt
page 29 of 566 (05%)
possess from one hundred and fifty to two hundred thousand pounds
sterling. Several Indians have acquired capitals nearly equal, and there
are upwards of a dozen houses possessing from forty to fifty thousand
pounds sterling. Wholesale trade is carried on here with greater
facility and profit, and with less intrigue and fraud, than any where I
have seen in the Levant; the principal reason of which is, that almost
all the bargains are made for ready money, very little or no credit
being given. This, however, is not to be understood as implying any
thing favourable to the character of the merchants, who are as notorious
for their bad faith as they are for their large fortunes; but the nature
of the trade, and the established usage, render it a less troublesome
and intriguing business here than in any other country of the East.

The commerce of Djidda may be divided into two principal branches--the
coffee trade, and the Indian trade; with both of which that of Egypt is
connected. Ships laden with coffee arrive from Yemen all the year round,
without being restricted to any particular season. During the voyage,
they sail constantly near the coast, and are thus enabled to take
advantage of the land breezes during the season when no[r]therly winds
prevail, and render the voyage difficult in mid-channel. They dispose of
their cargoes for dollars, which are almost the only article that the
merchants of Yemen take in return. The coffee trade is liable to great
fluctuations, and may be considered a species of lottery, in which those
only embark who have large capitals at their command, and who can bear
occasionally great losses. The price of coffee at Djidda, being
regulated by the advices from Cairo, varies almost with the arrival of
every ship from Suez. The price at the latter place depending upon the
demand for Mocha coffee in Turkey, is thus equally fluctuating. When I
arrived at Djidda, coffee-beans were at thirty-five dollars a hundred-
weight; three weeks after they fell to twenty-four dollars, in
DigitalOcean Referral Badge