usands of country villages and petty trade
centres in the land. The history of the life of the country store-keeper
is a constant succession of combinations and agreements with his rivals,
interleaved with periods of "running," when, in a fit of spite, he sells
kerosene and sugar below cost, and, to make future prices seem
consistent, marks down new calico as "shop-worn--for half price." It is
true the sum involved in each case is a petty one, but when we consider
the enormous volume of goods which is distributed through these
channels, the total effect of the monopoly in raising the cost of goods
to the consumer must approach that effected by monopolies of much wider
fame. But perhaps it may not seem evident that this is a monopoly of the
same nature (not of the same degree) as a manufacturers' trust or a
railroad pool. It certainly _seems_ to be true that the merchant has a
right to do as he chooses with his own property; and that if he and his
neighbor over the way agree to charge uniform prices for their goods, it
is no one's business but their own. And, indeed, we are not yet ready to
take up the question of right and wrong in this matter. That the act is
essentially a "combination in restriction of competition," however, is
self-evident. The degree of this monopoly may vary widely. If the
merchants who effect this combination raise their prices far above what
will secure them a fair profit on the capital invested in their
business, and if it is difficult for their customers to reach any other
source of supply outside of the combination, the monopoly will have
considerable power. On the other hand, if the stores of another village
are easy of access, or if the merchants who form the combination fix
their prices at no exorbitant point, the effect of the monopoly may be
very slight indeed.

We find this class of trade monopolies most powerful and effective on
the frontier. Wherever railroad communication is easy and cheap the
tradesmen of different towns--between whom combinations are seldom
formed--compete with each other. The extension of postal, express, and
railway-freight facilities to all parts of the country, too, have made
it possible for country buyers to purchase in the cities, if necessary.
Thus the railways have been a chief instrument in _lessening_ the power
of this species of monopoly in country retail trade, which was of great
power and importance a half century ago.

Of retail trade in the cities, i