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Here were France and her allies easily escaping the hardships of British naval pressure by employing neutrals to carry on their trade. Worse still, the Americans, by the device of entering and clearing French sugar at an American port, were now able calmly to take it to England and undersell the West Indian planters in their own home markets.
The increase of demand, besides, though in the beginning it may sometimes raise the price of goods, never fails to lower it in the long-run. It encourages production, and thereby increases the competition of the producers, who, in order to undersell one another, have recourse to new divisions or labour and new improvements of art, which might never otherwise have been thought of.
You can look on every employer who adopts the plan as one who is doing his part, and those employers deserve well of everyone who works for a living. It will be clear to you, as it is to me, that while the shirking employer may undersell his competitor, the saving he thus makes is made at the expense of his country's welfare.
The question is no longer, How large a profit can I get? but, How small a profit shall I accept? The competition for customers is so fierce that the seller hardly dares ask any profit, for fear his more anxious neighbor will undersell him.
"General low wages," said Mill, "never caused any country to undersell its rivals; nor did general high wages ever hinder it."
It was started by Herbert Ingram, who began life as a provincial newsboy, and died, in the vigor of his age, member of Parliament for his native town. It was a success from the first, so great that numerous competitors sprang up and endeavored to undersell it.
Before the war the British and American manufacturer, and there is a considerable market for American goods in the Cape Colony, could undersell the South African article. That condition is changed and the home-made article produced with much cheaper labour than obtains either in Europe or the United States, has the field.
This way of managing proved to be a great damage to the Connecticut clock makers. The New York men would buy the very poorest movements and put them into cheap O.G. cases and undersell us. Merchants from the country, about this time, began to buy clocks with their other goods.
The big concerns come in and undersell him in his local market, and that is the only market he has; if he cannot make a profit there, he is killed. They can make a profit all through the rest of the Union, while they are underselling him in his locality, and recouping themselves by what they can earn elsewhere.
For a long time the cheap, bounty-fed beet sugars of Germany, which never approach beyond being an imitation of real sugar as every housewife can testify who has tried to make jam with them were able to undersell the produce of the cane; but the latest statistics show that this industry is now making steady progress, the production of 1899 being thirty-one thousand tons, or exactly three times that of 1899.
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