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"The rivalry of the capitalists among themselves," replied the lad, "to tempt the buyers' custom certainly prompted them to undersell one another by nominal reductions of prices, but it was rarely that these nominal reductions, though often in appearance very large, really represented in the long run any economic benefit to the people at large, for they were generally effected by means which nullified their practical value."
In short, they beat, undersell, and displace the small cowkeepers wherever the large dairy is moderately well managed. The cottager or peasant-proprietor has, I believe, an advantage in poultry of all kinds. When poultry are kept in very large numbers they are more liable to disease, and the diseases are more disastrous sweeping off the whole large stock.
He shook it, and money rattled; then he unlocked it, and poured out a little pile of silver. "There," said he, "put on your bonnet, and come and buy those things." She put on her bonnet, and on the way she asked how it came to be all in silver. "That is a puzzler," said he, "isn't it?" "And how did you make it, dear? by writing?" "No." "By fees from the poor people?" "What, undersell my brethren!
It seems to have introduced into the world, as I said above, an element of infinite inequality. Guttenberg makes large profits by this invention, and perfects the invention by the profits, until all other copyists are ruined. As for the public the consumer it gains but little, for Guttenberg takes care to lower the price of books only just so much as is necessary to undersell all rivals.
Besides this, our country was enabled, by its vast extent of arable land, as well as by its cheap conveyance and skilful handling of freights, to sweep into the German markets agricultural products of various sorts, especially meats, and to undersell the native German producers.
But the common sense of the Japanese dealers, as a mass, is strongly opposed to such immorality, and the evil will soon correct itself. The native storekeepers can honestly undersell the foreign ones, because able not only to underlive them, but to make fortunes during the competition. This has been for some time well recognized in the concessions.
And not only must the American merchant sell as low as his American rivals, but he must also undersell the grain merchants of other grain-producing countries, such as Russia, Egypt, and India. And now let us see how much benefit the English people received from the cheap American grain. We will say that, owing to the foreign food supply, the cost of living declined one half or a third in England.
The Indian peasant already, in the case of wheat, undersells the English farmer, and it seems merely a question of time as to when the Indian operative will undersell his Lancashire rival, and when perhaps calico will come to England, as it once did, from Calicut. And no doubt, some such thoughts were passing through Cobden's mind when he once said, "What ugly ruins our mills will make."
The rise in the money price of all commodities, which is in this case peculiar to that country, tends to discourage more or less every sort of industry which is carried on within it, and to enable foreign nations, by furnishing almost all sorts of goods for a smaller quantity of silver than its own workmen can afford to do, to undersell them, not only in the foreign, but even in the home market.
We send our teams to all these places, but if we had stores there we'd soon cut the other fellers out, for buying in such large quantities, we could undersell them every time." "I'm rather in favour of the branches, but don't go to cutting prices. The other fellow has the same right to a living that we have." "Why not let him have what he's got then and not interfere with him?" said Mr.
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