Middlemen in English Business 151 



supply dare operate. The rise of the badger through the de\'ice of 

 the license and sample sale represent therefore the growing ascendency 

 of the metropolitan and wholesale markets over the local direct-sale 

 public markets. This ascendency meant a centralization of the corn 

 trade and a concentration of demand for corn in metropolitan centers. 

 And this concentration was fraught with danger to the supply for the 

 local communities. The price hereafter was practically determined 

 by the London price: whereas formerly the suppl\- and demand upon 

 the immediate local market fixed the price there. Unless the deni- 

 zens were willing to pay the London price, less the transportation 

 charge, more than the actual surplus abo\-e the local consumptive 

 want moved toward London. There was effected an equalization 

 of supply and of price. 



Meanwhile business methods had somewhat changed in direc- 

 tion. The husbandmen were formerly the active agents in getting 

 the corn to market. They carried or caused to be carried to the 

 market the excess of corn not needed for their own consumption; 

 they were their own salesmen there. Some of them or the badgers 

 bought the community's surplus and carried it to other markets. 

 But with the rise of the wholesale and metropolitan trade the whole- 

 sale merchant became the active agent and master of the trade. 

 This middleman, as will appear shortl}', engaged factors resident and 

 itinerary who went to the markets and the estates and bought up the 

 grain and cared for forwarding it to their principal. Thus concen- 

 trated, the trade underwent a thorough organization, marked by the 

 continuous movement of corn to the metropolitan wholesale markets, 

 which corn left the husbandmen, not with the intention of satisfying 

 the local consumption first, but of satisfying the wholesale-market 

 demand directly. 



In concluding this sketch of the corn-buyer it is proper to consider 

 the peculiar function of the raw-material or extractive-products buyer. 

 In the first place, he is an assembler. The exporter, the miller, the 

 brewer, the mealman, the merchant — want their materials or wares in 

 great quantities. It would be economically burdensome if each of 

 these had to perform all the perambulations and dickering and carry- 

 ing done by these buyers in order to procure the large volumes of 

 materials needed. This specialization of buying and bringing to- 

 gether is therefore an economic advantage. He buys from many, 

 assembles, and sells to few.' 



' For a contemporary opinion to this effect with respect to the corn ])uyer see 

 'Legislation and Commerce of Corn," 292. 



