Before leaving his important subject, it is necessary to observe, that, though dealers in provisions, in times of any degree of scarcity, that is, when there is not quite enough fully to supply the consumption of the country, act, in keeping up prices, as if they had an exclusive privilege for monopoly, yet that is the only cases =sic= in which they do so. A single monopolizer can diminish the quantity, and perhaps destroy a part of it with advantage to himself. Thus the Dutch East India company were said to have done with the spices. {131} But the individual dealer, though he is interested in a general high price and monopoly, is still more interested in selling as much as he can; and the higher the price, the more careful he is not to waste or consume more than he can help. In this respect, the monopoly of the many is not half so hurtful as the individual monopoly. This proves that all the vulgar errors, which occasion reports of farmers and dealers destroying their corn, are not only without foundation, but would produce an effect 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; it is only necessary to observe that the rise in prices, or depreciation of money, which other causes bring on by degrees, this brings on violently and suddenly. {133} This cause will always exist in a country that cannot provide enough for its own subsistence.