160 
AFRICA SINCE 1888 
acquire Tunis and the desert of Sahara. She yielded to Italy 
the southwest coast of the Red sea and south on the Indian 
ocean to the river Juba, including Massowah, the most unhealthy 
part of the Red sea, on condition that Italy should occupy 
Kassala and drive out the Mahdists, reserving also for herself the 
best harbors in the Italian territory’ on the Indian ocean. 
The occupation of Africa has cost France 8750,000,000 and Italy 
her reputation as one of the leading powers of Europe ; Germany 
has failed in her colonization scheme, for, as a recent writer says, 
her colonists in Africa number less than 1,000 and cost about 
82,750 a year each, while the only portions of Africa that have 
3 'ielded large returns for investments made, by colonists are the 
regions controlled by England on the Niger and in South Africa. 
THE BRITISH SOUTH AFRICAN COMPANY. 
The government of these va.st tracts and colonies has gener- 
ally been granted to companies chartered bj’’ the governments of 
Europe. One of these companies, the British South African Com- 
pan\qwas founded in 1889 by Mr Cecil Rhodes. The son-in-law 
of the Prince of Wales and other members of the nobility were 
made directors and officers, receiving full-paid founders’ shares. 
Dr Jameson was one of the subordinate officers. The par value 
of the stock, £1, soon rose in the market to £3 or £4, thus 
securing a handsome profit to the companj^’s noble directors. 
The company was authorized “ to acquire by any concession, 
grant, or treaty all or any rights, authorities, jurisdictions, and 
powers of any kind or nature whatever, including powers neces- 
sar}’ for the purposes of government, comprised or referred to in 
the concessions and agreement made as aforesaid or affecting 
other territories, lands, or property in Africa or the inhabitants 
thereof.” Among the privileges given to it are “ the right to es- 
tablish banking and other companies and associations ; to make 
and maintain railroads, telegraphs, and lines of steamships; to 
carry on mining operations and license mining companies ; to 
settle, cultivate, and improve the lands ; to preserve peace and 
order in such ways and manner as it shall consider necessary, 
and for that object maj" establish and maintain a force of police* 
and have its own flag.” 
The territory originally included in the charter of the com- 
pany "was many times larger than Great Britain, but Mr Rhodes 
and his associates, still unsatisfied, penetrated into Khama’s 
country, Matabeleland and Mashonaland, defeated Lobengula, 
