Título: AUCTIONS INCONSISTENT WITH REGULAR TRADE, ...
Condición del libro: Good
Edición: 1st Edition
New York: Printed by Van Winkle, Wiley & Co., 1817. 16pp. Dbd., stitching loose. Tanned and foxed. Good. An early discourse on American trade and price inequalities, particularly with Great Britain. The author complains that British trade practices are having injurious effects on New York merchants, and, by extrapolation, on the financial health of the republic in the wake of the War of 1812. Most vigorously condemned is speculation and "the auctioneering system." With regard to the former he writes that "it is generally the bubble by which the crafty and dishonest make their fortunes out of the credulous and weak. It knows no regular course, overturns all established order, and is the leech which drains off the vital blood of society." No longer confined just to land, speculation has reached all aspects of commerce, including "goods, wares, merchandise, utensils, books" through the evils of auctioneering: "Every article, which can be conveyed to an auction, is now worked through that fashionable machine of polite, and licensed swindling, and under a combination of circumstances strongly tending to the annihilation of regular trade, comes to the purchaser in such a rapid fluctuation of prices, as to destroy all notions of its comparative importance and intrinsic value, and with it the immensely important doctrine of equivalents in regular business." He goes into detail on how the auctions work, including selling below cost, the dependence on inferior goods, and the use of false invoices, and their deleterious effects. Not to be too "presentist," but this is an argument with obvious pertinence today. The "Wiley" in the imprint is Charles Wiley, whose son John went on to form the eponymous publishing house, still in operation today. SABIN 54106. SHAW & SHOEMAKER 40039. N° de ref. de la librería 1307
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