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Updated: August 28, 2024
In no very long time after, I was trusted to carry the books out; and when quarter-day came, and the shop-man left, I took his place. Wonderful luck! you will say; here I had found my way to a friend at last. I had found my way to one of the most merciless misers in England; and I had risen in the little world of Shrewsbury by the purely commercial process of underselling all my competitors.
He had attempted to drive the nuns out of the market by underselling them, and now it appeared that they, too, were prepared to face a loss. It was obvious that their losses must be great, much greater than Mr. Quinn's. Rumours were rife of large loans raised by the Mother Superior, of mortgages on the factory buildings and the machinery.
Her butter had already been "dropped" twice before, that day, in order to keep pace with the passion for underselling of the new grocer, who had, for the undoing of the widow and the orphan, opened a shop lower down the street. Our poor retailer was selling her sugars, too, for less than she gave for them. "You must do so for a time," George Boult had informed her.
Something was curiously wrong in the execution of Heaven's decrees. He looked again at the preposterous statement, knitting his brow. Surely this was some base contrivance of the enemy. They had been underselling and outadvertising him for months, and had ousted him from the custom of several large firms already. Something had to be done.
But if this is so, it must be remembered that the competition of married women has succeeded in underselling the unmarried women, who might otherwise have been able to obtain this work at a wage which would have supported life.
No one thought it wrong for a light-witted "captain of industry" who had led his workpeople into overproduction, into the disproportionate manufacture, that is to say, of some particular article, to abandon and dismiss them, nor was there anything to prevent the sudden frantic underselling of some trade rival in order to surprise and destroy his trade, secure his customers for one's own destined needs, and shift a portion of one's punishment upon him.
It lessens the cost of distribution for the consumer, and it decides many to take to new and more hopeful courses, who otherwise might cling to a branch of business that had become nearly sapless. Underselling generally has the same results.
It might be feared that they would beat us out of the trade itself by underselling us, which they were able to do. With the exception, however, of an abortive effort by this governor, the Irish wool manufacture was in no degree impeded, and was indeed mentioned with special favour in many Acts of Parliament; and it was in a great degree on the faith of this long-continued legislative sanction that it was so greatly expanded.
And as he set out on the principle of underselling, people took a mighty fancy to the cheap shop. And it was agreed among all the young and giddy, that he would beat Stock all hollow, and that the old shop would be knocked up. After a few months, however, folks began to be not quite so fond of the cheap shop; one found out that the leather was bad, another that the work was slight.
The attempt and purpose to suppress a competitor by underselling him at a price so unprofitable as to drive him out of business, or the making of exclusive contracts with customers under which they are required to give up association with other manufacturers, and numerous kindred methods for stifling competition and effecting monopoly, should be described with sufficient accuracy in a criminal statute on the one hand to enable the Government to shorten its task by prosecuting single misdemeanors instead of an entire conspiracy, and, on the other hand, to serve the purpose of pointing out more in detail to the business community what must be avoided.
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