"First was direct solicitation of buyers and a shameless vaunting of every one's wares by himself and his hired mouthpieces, coupled with a boundless depreciation of rival sellers and the wares they offered. Unscrupulous and unbounded misrepresentation was so universally the rule in business that even when here and there a dealer told the truth he commanded no credence. History indicates that lying has always been more or less common, but it remained for the competitive system as fully developed in the nineteenth century to make it the means of livelihood of the whole world. According to our grandfathers--and they certainly ought to have known--the only lubricant which was adapted to the machinery of the profit system was falsehood, and the demand for it was unlimited." "And all this ocean of lying, you say, did not and could not increase the total of goods consumed by a dollar's worth." "Of course not. Nothing, as I said, could increase that save an increase in the purchasing power of the people. The system of solicitation or advertising, as it was called, far from increasing the total sale, tended powerfully to decrease it." "How so?" "Because it was prodigiously expensive and the expense had to be added to the price of the goods and paid by the consumer, who therefore could buy just so much less than if he had been left in peace and the price of the goods had been reduced by the saving in advertising." "You say that the only way by which consumption could have been increased was by increasing the purchasing power in the hands of the people relatively to the goods to be bought. Now, our forefathers claimed that this was just what competition did. They claimed that it was a potent means of reducing prices and cutting down the rate of profits, thereby relatively increasing the purchasing power of the masses. Was this claim well based?" "The rivalry of the capitalists among themselves," replied the lad, "to tempt the buyers' custom certainly prompted them to undersell one another by nominal reductions of prices, but it was rarely that these nominal reductions, though often in appearance very large, really represented in the long run any economic benefit to the people at large, for they were generally effected by means which nullified their practical value." "Please make that clear."