228 THE DIRECTION OF INDUSTRY 



dumped a season's supply upon a very limited market. 

 The local dealers knew that their average annual sales 

 would only absorb a certain known quantity of grain, 

 and when they had laid in their store and replenished 

 their grain-pits for the year, only a very heavy fall of 

 price indeed would induce them to increase their pur- 

 chases ; but after an abundant harvest, the cultivators 

 had grain to dispose of in excess of these require- 

 ments, and they were compelled to dispose of it for 

 what it would fetch, and that is the reason why 

 harvest prices, especially of the coarser grains, fell 

 away as if there were no bottom in them. But when 

 the country folk had disposed of their produce and 

 left the market town, there was no longer the same 

 desperate anxiety to sell, and prices returned to some- 

 thing like their normal level. The baniya in such 

 cases was very generally abused for preternatural 

 rapacity and cunning, but circumstances which he 

 could not control in reality made his opportunity for 

 him. When the conditions of the market were reversed, 

 the cultivator was quick enough to make the most of 

 his position of advantage. It will be noticed (on the 

 charts) that in years of dearth harvest prices rose 

 almost to the level of bazaar prices — that is to say, in 

 those years the supply brought to market was not 

 enough to meet the normal requirements of the 

 town. Competition arose, not only among the corn- 

 dealers, but among such consumers as had the ready- 

 money wherewith to purchase a year's supply of 

 grain. The price, which the dealers had forced up in 

 anticipation of a short harvest, was never allowed to 

 fall, and, in consequence, the cultivator was able to 

 get the full price for his produce, and sometimes to 

 realize the highest price reached in the year ; for, as 

 explained above, it is not uncommon to find the wheat 

 and barley bought dear in spring being retailed com- 

 paratively cheap in autumn. This is made possible 

 by the two harvests of the Indian year. The monsoon 



