The Liverpool Standard and General Commercial Advertiser.
Liverpool, Merseyside, England, 1842-07-01 00:00:00

ONE CAUSE OF THE EXISTING DISTRESS

There is one feature in the depression which so unhappily
prevails in all classes of trade, which is the more lamentable,
inasmuch as it arises out of the dispositions and practices of
the people themselves ; and might therefore be at once re-
moved if the people chose to abandon it. We allude to that
passion for cheapness, without regard to moral, or even to
truly economical considerations, which is so increasingly ap-
parent in all classes, in their dealings with each other.

As a general rule, we may be sure that " buy where you
can buy cheapest" will obtain, whether we like it or not, a
prevalent influence. Yet we must contend that this rule
ought to be admitted with caution, and with a recollection
of certain other principles which can never be abandoned
without certain injury to all parties.
Were a lot of articles to be ticketed in a shop-window,
" Stolen goods—to be sold cheap," we may trust that a zreat
many persons would pause before they entered the shop, and
would recoil from the least contact with the crime.

But what if it becomes known, by bankrupts' examina-
tions, &c., that a certain dealer has become possessed of a
large stock without paying for it, and has then forced his
creditors, by the fear of entire loss presented to their minds,
to accept, perhaps a fourth, or a third, of their just demand,
When such a man afterwards boasts of the " bargains" he
can offer, do not too many persons of character—persons
affecting a conscience—throng to his shop, deserting their
regular tradesmen, to share in what is nothing else than a
scheme of legalised murder?
So again, though with less criminality, when a shop-
keeper is found advertising articles of fixed value—Post-
office envelopes, and the like—at less than the known
cost, do not multitudes of " respectable people " throng
to buy. Yet they must know that if the general business
of the shop be carried on upon such principles, bankruptcy
must be the result. They probably surmise that the adver-
tised cheapness of one article is a mere lure to draw them
to the shop ; yet with that lure they are taken, deserting
their accustomed tradesmen to deal with one who either
trades under false colours, or else must end in defrauding

his creditors.
Some recollection of the dictates of conscience ought to
interpose a check in such cases. But besides these mo-
tives, it seems a kind of infatuation in a trading commu-
nity, to be making war, as it were, upon all profits ; and
reducing everything, as far as may be, to the condition'of
business carried on at a loss.
On this point we must give a short extract from a re-
cent work :
" There is another kind of folly into which the English
people have been recently led, and which seems to be be-
coming more and more rife daily from the absence of op-
position ; we allude to the passion for cheapness; the en-
couragement given to competition; and the perpetual as-
sumption that a lowering of prices must be a public good.
`• Now even such a political economist as Smith had sense
enough to see and declare, that high prices and plenty are
prosperity ; low prices and want are misery.' And nothing
can be more certain than the fact, that if we seek out those
spots of the earth where prices are the lowest, there we shall
always find, as a never-absent concomitant, a great degree of
misery and want among the people,
`• But surely if ever there was a people who were bound in
a peculiar manner to eschew low prices, the English are that

.ainin,g twelve heads
nts and labourers),

s and empli

rowers, or artificers ; while t

ten of whom are producers, _
other two live upon fixed rents or interest of money, paid to
them by the former ten. Suppose then, that a mania for
cheapness seizes upon these people, encouraged, of course, by
competition, and the fear of competition, all their produce
and the fruits of their industry are equally and simultaneous-
ly reduced one-half; or at least, so reduced, as to bring
down their profits, and also their expenses, by a clear fifty
per cent. ; is it not abundantly obvious that the only real
gainers by the change would be to the two who lived on their
fixed incomes, and whose incomes would now be, by the
change, practically doubled ; while all that the producing
class would realise would be the privilege of doing more
business for the same incomes?
" And where is the difference between this fancied case
and what we now see passing around us ? Could we single
out the case of a holder of consols, who drew a dividend of
£lOOO a-year in 1818, and who draws the same dividend
now ; and could we call for the particulars of this expendi-
ture; we shouldassuredly
which findhe o
thatbtai
obtained
de very 781 same o
rh eo ,
0*
food, clothing, &c.,
a-year, he could have now for £6OO, probably for £5OO. He
is therefore either saving £4OO a-year by the change, or else
living in a much more luxurious manner. But what do the
producers of his luxuries gain by the change ? Just the plea-
sure of doing much more business than before for the same
aggregate profit. We have lately heard, through the public
press, that the manufacturers in Manchester are now giving
thrice as many goods as they did in 1818, for the same mo-
ney. And yet, strange to say, this infatuated course is glo-
ried and exulted in by many, and still greater cheapness de-
siderated ! Not content with having doubled the national
debt once, they would gladly quadruple it, and still fancy
that they were doing the people of England goodse.rsviacde:
.E
How many degrees of lunacy do these people require to corn-
etehg.,
eirpq.u4a9h9fi fastoi o2n. for Bedlam ?"—Life of M. r

* ~ House-rent has suffered less reduction than many
other items ; but dwellings which let for £l3O to £l5O in
1818, are now generally to be obtained at from £BO to £100."

MONEY-MARKET.—GoId was in a feverish state, owing to
the process of sweating, and parties who expected to find
money extremely heavy were surprised at its uncommon
lightness, which they only perceived when bringing it into
the market. Sovereigns with the coupons (or little pieces)
cut out were freely offered for 205., and as freely declined,
au many persons made fruitless endeavours to turn the scale
by'Allißg in the crevices.—Punch.
AN IRO+ LETTER.—An Irishman wrotelf you to his son, in
Dublin, the fl),Rovi"g letter : Dear Jem,— are well
when this letter rtiello ypu, we are well. By the bearer, I
send par my old brown 'cokt ; get a new one made out of it.
hope you will not spend them lat.is,llli; if you do, I can
Your mother sends you, uizhiltAvving to me, five pounds; I
hal& Pvipted me to
just 4211 you that you are a silly goos.
affectionate. father. P.S.—Your sister pal I remain your
and the letter was
tell you to send I2er a shell comb, but as I forgot it this time,
4-pady sealed, I Will sutati973 it my
next"