Thirdly,
that they are unable to maintain this rate of profit except by a
combination, the object of which is to put down all competition.
396. Some time ago a small number of the large London
booksellers entered into such a combination. One of their objects
was to prevent any bookseller from selling books for less than
ten per cent under the published prices; and in order to enforce
this principle, they refuse to sell books, except at the
publishing price, to any bookseller who declines signing an
agreement to that effect. By degrees, many were prevailed upon to
join this combination; and the effect of the exclusion it
inflicted, left the small capitalist no option between signing or
having his business destroyed. Ultimately, nearly the whole
trade, comprising about two thousand four hundred persons, have
been compelled to sign the agreement.
As might be naturally expected from a compact so injurious to
many of the parties to it, disputes have arisen; several
booksellers have been placed under the ban of the combination,
who allege that they have not violated its rules, and who accuse
the opposite party of using spies, etc.
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