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82 to capital invested might also be greater. They might even sell considerably below the ordinary rate prevailing elsewhere, but yet, having an assured trade and being able very accurately to gauge demand, they might turn their money over with remarkable frequency. Their working expenses, too, would be absurdly small. They would not have to advertise for customers, though they would doubtless make announcements to them of any novelties; but all that waste of effort and of money which is so frequently expended by tradesmen in order to secure customers or to prevent their going elsewhere, would be quite unnecessary.

And not only would each trader be in a sense a municipal servant, but those in his employ would be also. It is true such a trader would have the fullest right to engage and dismiss his servants; but if he acted arbitrarily or harshly, if he paid insufficient wages, or treated his employees inconsiderately, he would certainly run the risk of losing the good-will of the majority of his customers, even although in other respects he might prove himself an admirable public servant. On the other hand, if the example were set of profit-sharing, this might grow into a custom, and the distinction between master and servant would be gradually lost in the simple process of all becoming co-operators.

This system of local option as applied to shopkeeping is not only business-like, but it affords an opportunity for