re might be some doubt as to the positive justice
of this or that price; but there could be no doubt as to the injustice
of a price which was enhanced by the necessities of the poor, or the
engrossing of a vital commodity.[3] Merely to buy up the whole supply
of a certain commodity, even if it were bought up by a 'ring' of
merchants, provided that the commodity was resold within the limits
of the just price, was not a sin against justice, though it might be
a sin against charity.[4] If the authorities granted a monopoly, they
must at the same time fix a just price.[5] A monopoly which was not
privileged by the State, and which had for its aim the raising of
the price of goods above the just price was regarded with universal
reprobation.[6] 'Whoever buys up corn, meat, and wine,' says
Trithemius, 'in order to drive up their price and to amass money at
the cost of others is, according to the laws of the Church, no better
than a common criminal. In a well-governed community all arbitrary
raising of prices in the case of articles of food and clothing is
peremptorily stopped; in times of scarcity merchants who have supplies
of such commodities can be compelled to sell them at fair prices; for
in every community care should be taken that all the members should be
provided for, and not only a small number be allowed to grow rich,
and revel in luxury to the hurt and prejudice of the many.[7] Thus the
doctrine of the just price was a deadly weapon with which to fight the
'profiteer.' The engrosser was looked upon as the natural enemy of the
poor; and the power of the trading class was justly reckoned so great,
that in cases of doubt prices were always fixed low rather than high.
In other words, the buyer--that is to say, the community--was the
subject of protection rather than the seller.[8]

[Footnote 1: _The Living Wage_, p. 27.]

[Footnote 2: _Growth of English Industry and Commerce_, vol. i. p.
460.]

[Footnote 3: Endemann, _Studien_, vol. ii. p. 60.]

[Footnote 4: Lessius, _De Justitia et Jure_, II. xx. 1, 21.]

[Footnote 5: _Ibid._]

[Footnote 6: Langenstein, _De Cont._; Biel, _op. cit._, iv. xv. 11.]

[Footnote 7: Quoted in Janssen, _op. cit._, vol. ii. p. 102.]

[Footnote 8: Roscher, _Geschichte_, p. 12.]

It must at the same time be clearly kept in mind that the seller
was also protected. All the authorities are unanimous that it was as
sinful for the buyer to give too little as for the seller to demand
too m