Black market

“ By the time the late Seventies and early Eighties rolled around, the black marketeers were doing very nicely, thank you, and any suggestion from scientists that the laws should be modified was met with an intensive counterpropaganda effort by the operators of the black market. ”

“ It enhances exports (and competitiveness through imports) , it encourages technology transfers, it employs people, it invests in legitimate businesses (or is practised by them) , it adds to the wealth of the nation (black marketeers are big spenders, good consumers and build real estate) , it injects liquidity to an otherwise dehydrated market. Mercifully, the black economy is out of the reach of zealous missionaries such as the IMF. It goes its own way, unnoticed, unreported, unbeknownst, untamed. ”

“ Out of the hard economic conditions of this portion of the Black Belt, only six per cent of the population have succeeded in emerging into peasant proprietorship; and these are not all firmly fixed, but grow and shrink in number with the wavering of the cotton-market. Fully ninety-four per cent have struggled for land and failed, and half of them sit in hopeless serfdom. For these there is one other avenue of escape toward which they have turned in increasing numbers, namely, migration to town. A glance at the distribution of land among the black owners curiously reveals this fact. ”

“ In fact, every economic theory must take it into account, and social doctrines that leave it out of consideration prove impracticable; when, for instance, it is proposed that men sell their products for less than the cost of production, or for less than other men are willing to pay for them, we have what is called a "black market." ”

“ The situation changed markedly in 1972, however, because fewer people were willing to hold cash balances, official price rises accelerated, and more and more goods were being sold through the black market. ”

“ But the chief objection to the step is its injustice to the West African producer, and the reversal to the policy of trade monopoly within the Empire which it embodies. It limits the native producers to a single market for the disposal of the fruits of their labour, thus virtually creating a monopoly which can control prices. It imposes upon our African protected subjects, who are powerless to resist it, a system which sacrifices their interests to a handful of capitalists in the Mother country. ”

“ Certainly these figures show the small amount of accumulated capital among the Negroes, and the consequent large dependence of their property on temporary prosperity. They have little to tide over a few years of economic depression, and are at the mercy of the cotton-market far more than the whites. And thus the land-owners, despite their marvellous efforts, are really a transient class, continually being depleted by those who fall back into the class of renters or metayers, and augmented by newcomers from the masses. ”

“ When the crop is growing the merchant watches it like a hawk; as soon as it is ready for market he takes possession of it, sells it, pays the landowner his rent, subtracts his bill for supplies, and if, as sometimes happens, there is anything left, he hands it over to the black serf for his Christmas celebration. ”

“ Moreover, the black slave might be sold for cash, for five hundred to a thousand dollars, according to the quality of the article and the state of the market, so that it was for the enlightened self-interest of the owner to keep him in saleable condition. ”

“ Labor is like any other commodity in the market—increase the demand for it and you increase the price of it. Reduce the supply of black labor by colonizing the black laborer out of the country, and by precisely so much you increase the demand for and wages of white labor. ”

“ Determined to keep open market where men should be bought and sold, he has prostituted his negative for suppressing every legislative attempt to prohibit or to restrain this execrable commerce. And, that this assemblage of horrors might want no fact of distinguished die, he is now exciting those very people to rise in arms among us, and to purchase that liberty of which he has deprived them, by murdering the people on whom we also obtruded them ”

“ Such fluctuations affect both the value and the rate, either of wages or of profit, according as the market happens to be either overstocked or understocked with commodities or with labour, with work done, or with work to be done. A public mourning raises the price of black cloth (with which the market is almost always understocked upon such occasions) , and augments the profits of the merchants who possess any considerable quantity of it. It has no effect upon the wages of the weavers. ”

“ Thus, although a conspiracy between laborers is distinguished from one between them and employers, it is intimated, as I think, that a purpose on the part of a labor group to harm the commercial competitive system, to raise prices, to restrict production, or otherwise control the market, would not render the concerted action illegal, provided only that no employer participated. ”

“ Under such conditions, with wise administration, New York's Terminal Market system could be made a model that would be studied by other cities in an age when economic questions absorb the attention of all our public-spirited men and women. ”

“ Though the new market halls have not been established long enough to provide a definite financial statement, the live-cattle market and slaughterhouses do afford an indication of the success of municipal administration in Munich. Last year the income was $416,500 and the expenditure $410,100, thus showing a profit of $6,400. The new produce halls are certainly the best equipped in the world, and the only element of doubt as to their success arises from the fact that three old-fashioned open markets are nearer the center of the city and for that reason are even now preferred by many retailers. ”

“ In the belief that the establishment of a first-class Terminal Market system, worthy of twentieth century requirements, is a matter of vital importance to every family in New York, I have spent considerable time during the past few months investigating markets on both sides of the Atlantic. ”

“ Not only have these markets proved beneficial to the consumers generally, but the market men are unanimous as to their advantage, for they afford a ready and inexpensive means of doing a large business. ”

“ Though this market has direct access neither to river nor railroad, it still retains its premier position among the wholesale markets of England. As the approaches are extremely narrow, most of the produce has to be carried on the heads of hundreds of porters from the wagons outside into the market buildings. As it is under private ownership, no figures are issued, but there is known to be a huge profit on the market. For outer London there are fruit and vegetable markets at Stratford, in the east, Kew in the west, the Borough in the south and two railroad markets in the north. ”

“ It merely demonstrates that too many people handle the produce between the farm and the fireside. The provision of an adequate Terminal Market system for New York would apply the remedy.
New York stands alone, for a city of its importance, in having to face an annual deficit on its markets. The results elsewhere prove that the deficit could be turned into a profit by the creation of a Terminal Market system, equipped and administered on twentieth century lines. ”

“ Producers may have their supplies sold either at auction or by private treaty, as they prefer, and as none of the agents are allowed to do business for themselves the distant growers have confidence in the market methods.
In the retail markets each dealer in fresh meat pays just under $6.00 a week in all, while dealers in salted meats, fish, game and vegetables pay a much lower rate. All, however, in the covered markets pay three taxes—one for the right to occupy a stand, one for the cleaning and arranging of the markets, and one for the maintenance of guardians and officials. ”

“ It is true that in cases submitted to them for determination of 'just compensation,' courts have evolved a rule whereby an element of compensation designated as interest is sometimes allowed. Under this rule, and in the absence of an agreement of the parties fixing compensation, courts first fix the fair market value of property as of the time it is taken. The property owner, against whom there is no counterclaim, is always entitled to payment of this much. ”

“ Buda-pesth has 715,000 people and a very complete market system, under which, though only nominal rentals are charged, there is a profit of over $100,000.
There is one large wholesale terminal market, while six local markets cater for the retail requirements of all quarters of the city. All salesmen are carefully selected; criminals and diseased persons being rigidly excluded. Though a wide variety of articles are sold in the smaller markets besides farm produce, storekeepers are not allowed to rent stalls, so the market men and farmers alone have the use of the buildings. ”

“ Meat, fish, fruit and vegetables are dealt with under the same roof by upwards of 2,000 producers and dealers.
The whole market cost $7,250,000, of which $1,920,711 was for the main market and $4,852,862 was for the slaughterhouses, which are most elaborately equipped to ensure sanitation and cleanliness. Great as the market is, the pressure of business has grown so much that a project is on foot to construct more accommodation at a cost of $15,000,000. ”

“ Petitioners are manufacturers of electrical equipment. Their places of manufacture are outside of New York City, and most of them are outside of New York State as well. They have brought this action because of their desire to sell their products in New York City, a market area that has been closed to them through the activities of respondents and others. ”

“ The numerous inns are required for the accommodation of guests during the fairs, of which each hamlet has at least 2, while the larger villages and towns have from 4 to 8, besides market-days. One of the prettiest sights in Ardèche is to see the people flocking from every direction along the winding mountain roads to the village where the fair is being held—many on foot driving small parcels of pigs, sheep, goats, or cattle, or carrying baskets full of eggs, cheese, and butter, and often an old hen; others with carts loaded with potatoes; others travelling comfortably in their char-à-bancs ”

“ Over 41 per cent of England's imported meat passes through Smithfield, and railroad access is arranged to the heart of the market. The Great Northern Railway Company has a lease from the corporation on 100,000 feet of basement works under the meat market, with hydraulic lifts to the level of the market hall, and inclined roadways for vehicular traffic. ”

“ In front is seen the toll-house and receiving station, then the great market hall and, in the upper part of the picture, the restaurant and administration offices. The sidetracks on the right facilitate the rapid distribution of produce sold at the market. Under the great market hall are large refrigeration chambers connected directly with the railroad. ”

“ Stalls are rented from four to ten cents a day, according to the accommodation. Supplies come by boat, rail and wagon, and when there is pressure on the interior market space sales are allowed from the boats and wagons at a toll of ten cents a day. Otherwise only merchandise is allowed to be sold outside the market halls. Not only must no fish, game, meat or poultry be sold without first being passed by the veterinary inspectors, but none of these articles of diet must be brought to market packed in straw, cloth or paper. Unripe fruit must not be sold to children. ”

“ The market is maintained by stand rentals and administrative charges and by a fund established for the improvement and extension of the system. On the entire enterprise, when all charges have been met and interest paid, there is a profit of over $135,000 a year. ”

“ Gardeners and farmers are not permitted to sell their produce on the way to the market and are only allowed to deliver to storekeepers after the wholesale markets are closed. Here, as elsewhere where the markets are successful, every precaution is taken to avoid the prosperity of the market being dissipated by sales in the surrounding neighborhood. The annual rents for butchers are very moderate, ranging from $57.90 to $154.40, vegetable dealers $42.85 to $92.64; dairy produce dealers $52.11 to $85.11, fishmongers $23.16 to $86.85. ”

“ The inspection is very strict, every precaution is taken to ensure cleanliness, and breaches of the regulations are punished by fines or imprisonment. All condemned carcases are sent to a patent Podewill destructor to be reduced by steam pressure and rolling to a powder, which is disposed of as an agricultural fertilizer.
On these central meat markets there is a profit of about $100,000.
The Corporation also controls a great live cattle market at Islington, covering seventy-five acres. Over $2,500,000 have been spent on this market and the modern slaughterhouses attached thereto. ”

“ America is exporting less foodstuffs than formerly. The annual value has fallen $126,000,000 in eleven years. The growth of the manufacturing population and the relative decrease of the agricultural population, together with the gradual impoverishment of much of our farm land, will soon make conditions worse unless we organize our food distribution.
The first step for New York is the establishment of a Terminal Market system. It is estimated that New York's population will continue to grow at the rate of fully 100,000 a year, so this problem admits of no further procrastination. ”