quite contrary to the avaricious principle, by which such men are
considered as being governed. {132}

---
{130} There is one moment only when they do not, that is, when they
find out, for certain, that prices are going to fall. There, for a moment,
individual interest, and general interest are opposite, and they hasten
to sell, and to reduce the price too much. But even this does not
relieve the public; for, though it makes the reduction very rapid for a
time, and may sometimes bring it below the level, it quickly rises
again and finishes when the panic amongst the dealers is over, by
remaining higher than it ought to be.

{131} If diminishing the quantity one-quarter rises =sic= the price
one-half, then the monopolist gains, if he possesses the whole market;
but the individual dealer, if he were to burn his whole stock, would
not diminish the quantity in the country one-thousandth part, and
therefore make no sensible difference.

{132} Both in London and Paris, the reports of this sort, and, (making
a little allowance for the language and nature of the people,)
exceedingly similar in nature and tendency, prevailed during the
scarcity of 1789 and 1799.
-=-

[end of page #154]

Monopoly of this sort, by raising the prices of the necessaries of life,
in the end, augments the prices of labour, the rent of land, and the
taxes of a country. We have already examined the tendency of all this;