79. A Puritan View of Trade
Winthrop's History of New England.
November, 1639. At a general court holden at Boston, a great complaint was made of the oppression used in the country in sale of foreign commodities; and Mr. Robert Keaine, who kept a shop in Boston, was notoriously above others observed and complained of; and, being convented, he was charged with many particulars; in some, for taking above sixpence in the shilling profit; in some, eight pence; and, in some small things, above two for one; and being hereof convict, (as appears by the records,) he was fined £ 200, which came thus to pass: The deputies considered, apart, of his fine, and set it at £ 200; the magistrates agreed but to £ 100. So, the court being, divided, at length it was agreed, that his fine should be £ 200, but he should pay but £ 100, and the other should be respited to the further consideration of the next general court. By this means the magistrates and deputies were brought to an accord, which otherwise had not been likely, and so much trouble might have grown, and the offender escaped censure. For the cry of the country was so great against oppression,...
And sure the course was very evil, especial circumstances considered: 1. He being an ancient professor of the gospel: 2. A man of eminent parts ... 4. Having come over for consciences sake...
These things gave occasion to Mr. Cotton, in his public exercise the next lecture day, to lay open the error of ... false principles, and to give some rules of direction in the case.
Some false principles were these:—
1. That a man might sell as dear as he can, and buy as cheap as he can.
2. If a man lose by casualty of sea, etc., in some of his commodities, he may raise the price of the rest.
3. That he may sell as he bought, though he paid too dear, etc., and though the commodity be fallen, etc.
4. That, as a man may take the advantage of his own skill or ability, so he may of another's ignorance or necessity.