Given these agricultural strengths, is there anyone who believes the United States alone couldn't produce an extra $365 billion worth of food, at full retail price, if there were a ready buyer for it?
Credit, if given, was treated as a debt, and secured as a loan by the seller to be repaid by the buyer, for which he gave a bond.
As it was often clearly to the advantage of the buyer that he should receive immediate delivery he did not object to water in moderation, but art soon began to run a little ahead of nature.
When transferred to the buyer's warehouses the bags are opened and each piece is examined by a public inspector in the presence of both buyer and seller, the quality of the opium being judged by appearance, odour, colour and weight.
The farmers, with these contracts in hand, can plant aggressively knowing they have a ready buyer at a fixed price.
A buyer had to convince himself of the seller's title.
In selling yarn for export it is usual to allow the buyer only 11% for payment in 14 days, or in some cases the discount is at the rate of 5% per annum for 3 months, which is equivalent to 14%.
On the side of the casing which is next to the buyer there is a vertical slot through which the weight of the goods can be read on the drum.
Yarn is sold upon various terms, but a regular custom in the home trade is for the spinner to allow 4% discount, for payment in 14 days, of which 21 goes to the buyer, who is commonly a manufacturer, and 12 to the agent for sale and guaranteeing the account.
Inasmuch as its action changed very materially with age, " the buyer should in all instances be informed, so that he may not be deceived."