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COMBINATIONS OF MASTERS

,'S.s. 10 d. ; out of which latter sum, the expense ofprinting the volume must he paid; so that in passingthrough two hands this book has produced a profitof forty-four per cent. This excessive rate of profithas drawn into the hook trade a larger share ofcapital than was really advantageous; and the com-petition between the different portions of that capitalhas naturally led to the system of underselling, towhich the committee above-mentioned are endea-vouring to put a stop.*

There are two parties who chiefly suffer fromthis combination,—the public and authors. Thefirst party can seldom be induced to take an activepart against any grievance; and in fact, little isrequired from it, except a cordial support of theauthors, in any attempt to destroy a combination soinjurious to the interests of both.

Many an industrious bookseller would he glad tosell for 5s. the volume which the reader holds in hishand, and for which he has paid 6s.; and, in doingso for ready money, the tradesman who paid 4s. 6 d.for the book, would realise, without the least risk,a profit of eleven per cent, on the money he hadadvanced. It is one of the objects of the com-bination we are discussing, to prevent the smallcapitalist from employing his capital at that rate of

* The Monopoly Cases, Nos. 1, 2, and 3, of those publishedby Mr. Pickering, should be consulted; and, as the public willbe better able to form a judgment by hearing the other sideof the question, perhaps the Chairman of the Committee (Mr.Richardson) would print those Regulations respecting the trade,a copy of which, Mr. Pickering states, is refused by the Com-mittee even to those who sign them.