Economy
Comphania de Diamantes de Angola, the Diamang diamond company of Angola, was established in 1920. The government maintained a 5% stake in the company, gave it a thirty year lease to mine diamonds, and allowed it to operate without paying taxes or import tariffs. The company employed 10,000 workers and attracted investment from South Africa. In 1922, the Anglo American diamond company purchased a 16% stake in Diamang. The London Diamond Syndicate agreed to buy 125,000 carats (25 kg) from Angola annually. Under the rule of Governor General Norton de Matos, the colonial government spent 13 million pounds to bring 9,000 immigrants from Portugal, expanding construction of Benguela railway and roads. The settler population reached 36,000 by 1924. By 1929, mined resources made up 25% of Angola's exports, 600,000 pound sterling.
Read more about this topic: 1920s In Angola
Famous quotes containing the word economy:
“Quidquid luce fuit tenebris agit: but also the other way around. What we experience in dreams, so long as we experience it frequently, is in the end just as much a part of the total economy of our soul as anything we “really” experience: because of it we are richer or poorer, are sensitive to one need more or less, and are eventually guided a little by our dream-habits in broad daylight and even in the most cheerful moments occupying our waking spirit.”
—Friedrich Nietzsche (1844–1900)
“Wise men read very sharply all your private history in your look and gait and behavior. The whole economy of nature is bent on expression. The tell-tale body is all tongues. Men are like Geneva watches with crystal faces which expose the whole movement.”
—Ralph Waldo Emerson (1803–1882)
“The aim of the laborer should be, not to get his living, to get “a good job,” but to perform well a certain work; and, even in a pecuniary sense, it would be economy for a town to pay its laborers so well that they would not feel that they were working for low ends, as for a livelihood merely, but for scientific, or even moral ends. Do not hire a man who does your work for money, but him who does it for love of it.”
—Henry David Thoreau (1817–1862)