2799. But you cannot get twenty shawls made to order exactly of the same value?-No.
2800. What is your reason for carrying on that system of paying in goods?-It has been of old date. It was the practice when I commenced to the trade; but my own impression is that if a money system were adopted, only a very few of the producers would accept of it, because they would, as a consequence and as a general rule, have to take 20 or 25 per cent. less in money than they would get in goods. We buy with the understanding that we are to realize what we pay in goods. As I have said, sometimes for a certain article, or in a good market, a good deal more may be realized; but then we have the risk of loss, and we have a heavy discount; and therefore we have to live by the profit on the goods we sell. If we were to pay in cash, then of course we must buy at a lower rate, so as to give us some profit on the shawl, and consequently if a woman were to come in with a shawl, and to agree that the price was to be 20s. worth of goods, it is not likely that, unless she was very hard up for money, she would take 15s. or 16s.
2801. Can you give me any instance in which you have paid a cash price for a shawl which was lower than what you were willing to give in goods?-I don't recollect any case of that kind just now, except one.
2802. How long ago was that?-Not very long; perhaps a few months.
2803. What were the circumstances of that transaction?-It was one of these fine shawls. I don't know what I would have offered for it, but the person said she would give it to me for £2 in money, and it was agreed that that was to be the bargain. When [Page 62] I saw the shawl, it did not turn out to be quite so good as I had expected. The woman had got £1 of money at the time when the bargain was made, and after that she had taken up some goods out of the shop, and the balance of the price was taken out in goods.
2804. The bargain was made in that case, before the shawl was knitted?-No, the shawl was knitted.
2805. I thought you said, it did not turn out to be quite so good as you expected?-No, it was not quite so good when I came to see it as I expected from hearing of it.
2806. Had you looked at the shawl before you made the bargain?-I had seen her knitting it. I may remark, that very often these goods turn out better than they look when they are in an undressed state, and sometimes much worse.
2807. Have you any objection to adopt a cash system the people are willing to agree to it?-Of course I would have no particular objection; but my own impression is, that a cash system, if adopted, would give a very great check to the sale of goods.
2808. Don't you think it would be better for the merchant?-I don't know. I think a merchant would never risk so much if he had to pay in cash, or push so hard as he does now.