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Updated: June 2, 2025
In practice, when the Bank finds this process beginning, and sees that its business is much diminishing, it lowers the rate, so as to secure a reasonable portion of the business to itself, and to keep a fair part of its deposits employed. At Dutch auctions an upset or maximum price used to be fixed by the seller, and he came down in his bidding till he found a buyer.
From the Sir Cornewall Lewis point of view, with which nearly all Englishmen over thirty more or less sympathise, it is the only sound defence of many of our so-called entertainments that they are virtually daughter-shows genteel auctions, without which a sufficiently brisk trade in matrimony could not possibly be carried on.
His interests at the bank took him more and more frequently to Wallacetown; there were cattle auctions, too important to neglect, a day's journey from home; there was even a tiny opening beginning to loom up on the political horizon.
So far as his life was affected by the outside world at all, except as a place where auctions took place, and dealers' shops abounded, it was through this consciousness of impending social disaster, this terror as of a rapidly approaching darkness bearing the doom of the modern world in its bosom, which intermittently oppressed him, as it has oppressed and still overshadows innumerable better men of our day.
During my leisure, however, I was an observer, at the auctions, upon the plantations, and in almost every department of business. The next year, during the cold months, I had several two-horse teams under my care, with which we used to haul brick, boards, and other articles from the wharf into the city, and cotton, rice, corn, and wood from the country.
You may as well give me the address of a shop where I can buy meat for fourpence a pound, or sovereigns for fifteen shillings apiece. At the game of auctions, docks, shy wine-merchants, depend on it there is no winning; and I would as soon think of buying jewellery at an auction in Fleet Street as of purchasing wine from one of your dreadful needy wine-agents such as infest every man's door.
Why, he used to post notices right in town when he held auctions at Barataria, listing what he had to sell, mostly smuggled Negroes and a few cargoes of luxuries from Europe. He was a privateer under the rules of war, but he was never a real pirate. At least, that's the belief held nowadays." "We can't turn up our noses at pirates," laughed Ricky. "This house was built by pirate gold.
To a missionary who once asked one of the dealers how they found their way across the desert, the terribly significant reply was, "There are many bones along the way!" After a while the survivors are either exposed for sale in the markets of Marrákesh or Fez, or hawked round from door to door in the coast towns, where public auctions are prohibited.
The reign of terror alarmed the more moderate of the victors not much less than the defeated party; the capitalists alone were not displeased to see that another hand lent itself to the work of thoroughly humbling for once the haughty oligarchs, and that at the same time, in consequence of the extensive confiscations and auctions, the best part of the spoil came to themselves in these times of terror they acquired from the people the surname of the "hoarders."
The only solution was to sell out as promptly as possible; and the quickest method was the auction. Therefore, auctions were everywhere in progress, and the professional auctioneers were a large, influential, and skilful class of people. Their advertisements made the bulk of the newspapers.
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