2IO luirly History of American .hicfious 



Methods, advances allowed to principals by auctioneers on consignments, 

 179; catalogues issued, 174-5; conditions and terms of sale, 175-6; 

 conduct of sales at auction, 173-6; credit allowed to buyers, 176; dis- 

 play and inspection, 175-6; piece sales, 174-6; sale of package goods, 

 175-6; system of dumping, 167-8, 173-4. 



Monopolistic, 178-9, 194-5. 



Morals howered by auction methods, 194, 197-8. 



Objections to auctions, caused export of money, 196; caused poorer quality 

 of goods, 196-7; concentrated trade in a few large cities, 195; dis- 

 turbed the stability of commerce and industry, 196; encouraged dis- 

 honest practices and frauds, 144; gave less support to the home city, 

 195; hurt importers and jobbers, 143-4; introduced bad business prac- 

 tices, 198; lowered the morality of business, 197-8; made trade monop- 

 olistic, 194-5. 



Origin of auctions, before 1816, 164; in the colonies, 164; in early New 

 York, 173; origin of protectionists' hostility, 203-4. 



Package goods, methods of sale of, 175-6. 



Petitions (memorials) to Congress, in 1820, 205; in 1824. 206; in 1828, 

 206-7; in 1829, 207. 



Piece sales, method of, 174-6. 



Publicity, hostile campaign against auctions, 198-9. 



Quality of goods lowered, 196-7; new goods introduced, 181. 



Tariff, attitude of American import merchants, 170; auctions become a 

 factor in tariff legislation, 203-4; efforts of protectionists in Congress 

 (see Legislation); protectionists become anti-auctionists, 169; pro- 

 tective tariff' defeated by auctions, 169, 193. 



Terms of sale, 175-6. 



Undervaluation of imports, cause larger proportion of imports to be of 

 those subject to ad valorem duties, 193; act of 1832, 193; evasions of 

 duties more common in case of goods on foreign account, 192-3 ; sys- 

 tem of valuation used, 191 ; various evasions of customs duties, 191-2. 



Volume of sales, based on auction duties of New York, 170-3 ; concentra- 

 tion in New York City, 172; estimates of contemporaries, 170-1; 

 sources of data, 170-1. 



War of 1812 occasioned use of auctions, 164-6. 



