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Social Aspects of Traditional Economy

           The forms of contract between the participants in the pearling
          industry varied from one town to another along the Trucial Coast. As
          the industry expanded rapidly the increasing competition for capital
          to pay for fitting out the boats meant that financiers could more and
          more state their own terms. In this situation the form of contract and
          the rights of all participants were subject to continual change, and
          the often very complicated systems were far from uniform through­
          out the area. The general principles, however, remained in force even
          during the decline of the pearling industry in these towns.17
            The nawakhidah, who were the central figures in the industry in
          the towns, were originally the owners of the boats which they
          commanded. In later years more captains commanded hired boats or
          were employed by a boat owner; in Abu Dhabi town Ahmad bin
          Khalaf Otaibah had several captains working for him during the
          1930s. When money had to be borrowed to fit the boats out before the
          season began, the services of a musaqqam were enlisted. Often the
          musaqqam himself did not have adequate funds and he acted as a
          broker, obtaining the cash from Arab and Indian pearl merchants or
          from general traders. The interest involved in the latter deal (between
          the merchant and the musaqqam) was 10 to 25 per cent. If the
          nukhada was financed in this fashion by a musaqqam, the season’s
          catch of pearls and mother-of-pearl became the latter’s security and
          was handed over to him at about four-fifths of the market value.
          Because not every musaqqam was an expert in judging the value of
          the catch, the nukhada could also dispose of the catch to the highest
          bidder among the lawawish and lujjar and then give the musaqqam
          his share. But if a catch was poor due to stormy weather or to disease
          among the crew, or because not many pearls were found, the
          musaqqam's share might be much less than the amount he advanced
          at the beginning of the season, and the salifah al ghaus (diving court)
          then arranged for the remainder of the debts of the nukhada to be
          deferred until after the following season. This was often the
          beginning of real financial problems for a formerly quite independent
          nukhada, who after a series of bad years became increasingly
          indebted to the musaqqam. The poor yield of one season meant also
          that his share as nukhada or as owner was small, and from this share
          he had to live until the next season. Often during the years of decline
          in the industry the divers’ shares were totally inadequate for them to
          meet their commitments. The nukhada who did not want to lose good
          divers to other boats gave them advances on their shares of the
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