When the agents of the spinners, that is, the buying brokers, by becoming principals in some transactions, had acquired interests diametrically opposed to those of their customers, the consequent feeling of distrust among spinners gave birth to the Cotton Buying Company, which, constituted originally of twenty to thrity limited cotton-spinning companies, represents to-day nearly 6,000,000 spindles distributed among nearly one hundred firms. Its object was to squeeze out some middlemen and economize for its members on brokerage.
Pursuing the same wise policy he established a trading post at Oswego in 1722 and fortified it in 1727, and thereby placed the Iroquois in the desirable position of middlemen in a profitable fur trade with the " Far Indians."
He hoped for assistance from the friendly Nabataeans; but, as they owed everything to their position as middlemen for the South-Arabian trade, which a direct communication between Rome and the Sabaeans would have ruined, their viceroy Syllaeus, who did not dare openly to refuse help, sought to frustrate the emperor's scheme by craft.
As middlemen they already possessed a large interest in the spice trade, for the Portuguese, having no direct access to the principal European markets, had made a practice of sending cargo to the Netherlands for distribution by way of the Scheldt and Rhine.
By these means a large and rapidly increasing revenue is being secured to government; while the condition of the peasantry and people is being greatly ameliorated, an adequate but not excessive income is being secured to the native rulers; and the class of middlemen who lived by extortion and absorbed a great part of the wealth of the country is being abolished.