1802 } 
-another—how it paffes over into the muf- 
cles, and how it produces their » move- 
ments—thele are queftions as problemati- 
cal, as ever. 
Such are the refults of a great number 
of experiments, the principal af which 
the author has related at large in his in- 
terefting Memoir. 
(To be continued. ) 
a a 
For the Monthly Magazine. 
| DEFENCE of FORESTALLING.' 
(Continued from page 34, No. 83.) 
CASE II. 
Butcher informed againft for buy- 
ing meat of another butcher, and 
offering it for fale at an advanced. price.”” 
What difference could it make to the 
public whether the meat was in the 
hands of the firft butcher or the fecond ? 
Or, what reafon is there for thinking, 
that the fecond, if he had ftaid in the 
market, would not have made as much of 
his meat as the firft? The cafe was, that 
the fecond butcher preferred going home, 
te the chance of felling his meat by piece- 
meal, at a higher price than he received 
from his brother-butcher. The advanced 
price gained by the regrating-butcher (if 
he did gain an advanced price) was, that 
to which he had a right for his trouble 
and time and chance of Jofing. At all 
events, and not taking thefe confidera- 
tions into the account, it was a private 
bargain or wager, depending upon their 
private opinions, whether meat would 
rife or fall towards the end of the day, 
and not at all affeéting the public. - 
It will be faid, ‘* the article is in fewer 
hands, and the competition of fellers is 
jeflened.”” We will'even fuppole, that all 
the meat in the market is in the hands of 
one butcher. ‘* He will be able to fet 
his own price, and exact as much as he 
pleafes.”” He may exaét, but can he 
make the buyers comply with his. exac- 
tion? If it is his intention, as it is his 
intereft, to fell all his meat, he muf afk 
€¢ 
no higher price than would be afked if it ‘ 
were In the hand of fifty butchers. In 
proportion to his advance on that price, 
will be the guantity of meat remaining 
unfold. The reafon is, becaufe there is 
no article of general ufe as the food of 
man, for which fome fubftitute may not 
be employed. There is a price at which 
the butcher might fethis meat, with a cer- 
tainty of not felling a fingle pound. Be- 
fides that every man would rather falt a 
thort time ; there is no man who would 
Defence of Foreftalling. 
127 
not rather live without butcher’s meat a 
long time than pay, for inftance, ten gui- 
neas the pound. Poultry, fith, vegetables, 
every thing eatable in'the market, would 
be purchated inftead of butcher’s meat3 
and all thofe articles would rife in price, 
in proportion to the increafed demand ;- 
and this increafe of price would draw 
more from the immediate vicinity than 
was intended to be brought to this day’s 
market. By afking/a price that nobody 
will give, the butcher finds that he is only 
enriching his. rivals. If he. lowers the 
price, fo as to fell alittle, he leflens the 
evil as little; and will be convinced that 
he has not completely cured it till he has 
reduced his price to that at which his 
cuftomers are willing to buy the whole; 
that is, to the price at which the meat 
would have been fold if it had been the 
property,. not of one butcher, but of 
many. 
I have. not taken into the account the 
poflibility of applying immediately to the 
neighbouring markets for butcher’s meaty 
becaufe I would make the argument more 
yifible, by the fuppofition of a complete 
monopoly of that article. IT am not un- 
mindtu] of the maxim which I have ad- 
vanced, that no monopoly. of any article 
of general ufe can be made but by the 
whole ftrength of the community ; that is, 
by the interference of Government. 
It is the opinion of fome men, that 
fuch a price may be fet. by the feller as 
will be low encugh to find purchafers for 
fome part. of his commodity, and high 
encugh to indeninify him fhould the reft 
remain unfold. Perhaps there are fome 
perfons'({uch as haye declared that they 
will die in their error), who can be con- 
vinced by no other method than that 
which would feelingly convince them, by 
making the experiment. But, let us try 
what can be done by reafoning and faéts =’ 
1ft. This fuppofition is contrary to a 
maxim founded on obfervation, that large 
capitals with jimall profits are preferable 
to large profits on {mall capitais.. It is 
incumbent, therefore, on the advocates of 
the fuppofition, to fhew the fallacy of the 
maxim. 2d. Take the higheit price at 
which any part of an article will fell at all 
for ready money. (We muft not entangle 
_ the cafe with any of the accidents of cre- 
dit.) The feller will find, that when a 
few agents (gentlemen's fervants for ex- 
ample), and a few gluttons, who are un- 
willing to forego their wonted gratificas 
tions, have made thew purchafes, there ie 
an end of his trafick. ‘Thefe are fo few, 
when compared to the great body of con~: 
ae) fumers 
