On the Economy of Machinery and Manufactures eBook

This eBook from the Gutenberg Project consists of approximately 358 pages of information about On the Economy of Machinery and Manufactures.

On the Economy of Machinery and Manufactures eBook

This eBook from the Gutenberg Project consists of approximately 358 pages of information about On the Economy of Machinery and Manufactures.

In the home market, inferior but showy watches are made at a cheap rate, which are not warranted by the maker to go above half an hour; about the time occupied by the Jew pedlar in deluding his country customer.

188.  The practice, in retail linen-drapers’ shops, of calling certain articles yard wide when the real width is perhaps, only seven-eighths or three-quarters, arose at first from fraud, which being detected, custom was pleaded in its defence:  but the result is, that the vender is constantly obliged to measure the width of his goods in the customer’s presence.  In all these instances the object of the seller is to get a higher price than his goods would really produce if their quality were known; and the purchaser, if not himself a skilful judge (which rarely happens to be the case), must pay some person, in the shape of an additional money price, who has skill to distinguish, and integrity to furnish, articles of the quality agreed on.  But as the confidence of persons in their own judgement is usually great, large numbers will always flock to the cheap dealer, who thus, attracting many customers from the honest tradesman, obliges him to charge a higher price for his judgement and character than, without such competition, he could afford to do.

189.  There are few things which the public are less able to judge of than the quality of drugs; and when these are compounded into medicines it is scarcely possible, even for medical men, to decide whether pure or adulterated ingredients have been employed.  This circumstance, concurring with the present injudicious mode of paying for medical assistance, has produced a curious effect on the price of medicines.  Apothecaries, instead of being paid for their services and skill, are remunerated by being allowed to place a high charge upon their medicines, which are confessedly of very small pecuniary value.  The effect of such a system is an inducement to prescribe more medicine than is necessary; and in fact, even with the present charges, the apothecary, in ninety-nine cases out of a hundred, cannot be fairly remunerated unless the patient either takes, or pays for, more physic than he really requires.  The apparent extravagance of the charge of eighteen pence for a two-ounce phial(1*) of medicine, is obvious to many who do not reflect on the fact that a great part of the charge is, in reality, payment for the exercise of professional skill.  As the same charge is made by the apothecary, whether he attends the patient or merely prepares the prescription of a physician, the chemist and druggist soon offered to furnish the same commodity at a greatly diminished price.  But the eighteen pence charged by the apothecary might have been fairly divided into two parts, three pence for medicine and bottle, and fifteen pence for attendance.  The chemist, therefore, who never attends his customers, if he charges only a shilling for the same medicine, realizes a profit of 200 or 300 per cent upon its

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On the Economy of Machinery and Manufactures from Project Gutenberg. Public domain.