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In other words, a great reduction took place in middlemen's charges, amounting to between 15 per cent and 30 per cent depending upon the basis of calculation adopted. These decreases have come out of the elimination of speculation and profiteering. The course of retail prices corroborates these results also.
On these the public employee saved all the middlemen's and retailers' profits, getting them at perhaps half or two thirds of what they must have paid at private stores, with the guarantee, moreover, of a careful Government inspection as to quality.
The ideal is that where a society exists the main raw materials of the industry shall be bought wholesale instead of retail, and the main products of the industry sold retail instead of wholesale; that thereby middlemen's and other profits shall be reduced to a reasonable figure, and that the consumer shall get the most efficient possible service with regard to his supplies.
Thus middlemen's cost and profits were greatly reduced. This was due to the large suppression of profiteering and speculation and to the more orderly trade practices introduced under the law.
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