See also:

• MARKET (Lat. mercatus, trade or place of trade)

MARKET (See also:

• LAT

Lat. mercatus, See also:

• TRADE (O. Eng. trod, footstep, from tredan, to tread; in M. Eng. the forms teed, trod and trade appear, the last in the sense of a beaten track)
• TRADE, BOARD OF

trade or See also:

• PLACE (through Fr. from Lat. platea, street; Gr. IrAar6s, wide)

place of trade)  . This See also:

• TERM

term is used in two well-defined senses . (1) It means a definite See also:

• PLACE (through Fr. from Lat. platea, street; Gr. IrAar6s, wide)

place where (a) traders who are See also:

• RETAIL

retail sellers of a specific class of commodity or commodities are in the See also:

• HABIT (through the French from Lat. habitus, from habere, to have, hold, or, in a reflective sense, to be in a certain condition; in many of the English senses the French use habitude, not habit)

habit of awaiting buyers every See also:

• DAY (O. Eng. dreg, Ger. Tag; according to the New English Dictionary, " in no way related to the Lat. dies")
• DAY, JOHN (1574-1640?)
• DAY, THOMAS (1748-1789)

day in shops or stalls; or whither (b) they are in the habit of proceeding on specified days at more or less frequent See also:

• REGULAR

regular intervals . Covent See also:

• GARDEN (from O. Fr. garden, mod. Fr. jardin; this, like our words " garth," a paddock attached to a building, and " yard," comes from a Teutonic word for an enclosure which appears in Gothic as gards and O. H. Ger. gart, cf. Dutch gaarde and Ger. .garten)

Garden See also:

• MARKET (Lat. mercatus, trade or place of trade)

market for See also:

• FRUIT (through the French from the Lat. fructus; frui, to enjoy)

fruit and See also:

• FLOWERS, ARTIFICIAL

flowers, and Leadenhall market for See also:

• MEAT

meat and poultry, are See also:

• GOOD, JOHN MASON (1764-1827)

good examples in See also:

• LONDON

London of the See also:

• KIND (O. E. ge-cynde, from the same root as is seen in " kin," supra)

kind of institution included in class (a) . They are a very See also:

• ANCIENT
• ANCIENT (also spelt ANTIENT; derived, through the Fr. ancien, old, from the late Lat. antianum, from ante, before)

ancient economic phenomenon, dating from the earliest See also:

• PERIOD
• PERIOD (Gr. irepioSos, a going or way round, circuit, aepi, round, and &Sis, way, road)

period of' the development of organized communities of human beings, and in See also:

• GENERAL
• GENERAL (Lat. generalis, of or relating to a genus, kind or class)

general characteristics have changed little since they began to exist . Markets of the type of class (b) are also of very ancient origin (see FAIRS), but inasmuch as they are constituted essentially by the presence of persons, many of whom assemble from various places outside the place of See also:

• MEETING (from " to meet," to come together, assemble, 0. Eng. metals ; cf. Du. moeten, Swed. mota, Goth. gamotjan, &c., derivatives of the Teut. word for a meeting, seen in O. Eng. Wit, moot, an assembly of the people; cf. witanagemot)

meeting, they were capable of a little more development than those belonging to class (a), owing to increased facilities for locomotion . The nature of an ancient market of class (a), whither a See also:

• CITIZEN (a form corrupted in Eng., apparently by analogy with " denizen," from O. Fr. citeain, mod. Fr. citoyen)

citizen, say of See also:

• ATHENS
• ATHENS ['AN vat, Athenae, modem colloquial Greek `Ath va]

Athens, or his See also:

• CHIEF (from Fr. chef, head, Lat. caput)

chief slave, proceeded daily to make See also:

• HOUSEHOLD, ROYAL

household purchases, differs little from the See also:

• GROUP

group of shops visited by the wives of the less wealthy citizens of See also:

• MODERN

modern states . In many places abroad, and not a few in See also:

• ENGLAND
• ENGLAND, THE CHURCH OF

England, actual markets still exist . It may be said that the huge collections of shops, such as the various co-operative stores, are only a revival of the old " market-place," with its shops or booths gathered See also:

• ROUND (O. Fr. rond, Lat. rotundus, the Fr. is the source also of Du. rond; Ger., Swed., Dan. and Nor. rond)

round a central See also:

• AREA

area, adapted to the needs of modern big cities . (2) The term " market " has.come to be used in another and more general sense in modern times . According to See also:

• JEVONS, WILLIAM STANLEY (1835-1882)

Jevons, a market is " any See also:

• BODY

body of persons who are in intimate business relations, and carry on extensive transactions in any commodity." He adds that " these markets may or may not be localized," and he instances the See also:

• MONEY

money market as a See also:

• CASE
• CASE, JOHN (d. 1600)

case in which the term " market " denotes no See also:

• SPECIAL

special locality . As a See also:

• RULE

rule, however, most of the business of a market is transacted at some particular place, such as the London Stock See also:

• EXCHANGE

Exchange, the Baltic, the See also:

• BOURSE (from the Med. Lat. bursa, a purse)

Bourse of See also:

• PARIS
• PARIS (also called ALEXANDROS)
• PARIS, ALEXIS PAULIN (1800-x881)
• PARIS, BRUNO PAULIN GASTON (1839-1903)
• PARIS, FRANCOIS DE (169o-1727)
• PARIS, LOUIS PHILIPPE ALBERT
• PARIS, TREATIES OF (1814-1815)

Paris, the See also:

• CHICAGO
• CHICAGO, UNIVERSITY OF

Chicago " See also:

• WHEAT
• WHEAT (Triticum)

Wheat-See also:

• PIT (O. E. pytt, cognate with Du. put, Ger. Pfutze, &c., all ultimately adaptations of Lat. puteus, well, formed from root pu-, to cleanse, whence gurus, clean, pure)

pit." Even in the case of the London money market, merchants still meet twice a See also:

• WEEK (from A.S. wicu, Germanic *wikon, probably=change, turn)

week at the Royal Exchange to See also:

• DEAL

deal in See also:

• FOREIGN

foreign bills, although a considerable See also:

• PART

part of the dealings in these securities is arranged daily at offices and counting-houses by See also:

• PERSONAL

personal visits or by telegraphic or telephonic communication .

The markets in any important See also:

• ARTICLE (from Lat. articulus, a joint)

article are all closely interconnected . The submarine See also:

• CABLE (from Late Lat. capulum, a halter, from capere, to take hold of)
• CABLE, GEORGE WASHINGTON (1844– )

cable has See also:

• LONG, GEORGE (1800-1879)
• LONG, JOHN DAVIS (1838– )

long ago made Chicago as important an See also:

• INFLUENCE (Late Lat. influentia, from influere, to flow in)

influence on, the London See also:

• CORN (a common Teutonic word; cf. Lat. granum, seed, grain)
• CORN (fromm Lat. corms, horn)

corn market as See also:

• LIVERPOOL
• LIVERPOOL, EARLS
• LIVERPOOL, EARLS OF

Liverpool, or rather both London and Liverpool affect and are simultaneously affected by Chicago and other foreign markets . In like manner the Liverpool See also:

• COTTON
• COTTON (Fr. coton; from Arab. qutun)
• COTTON, CHARLES (163o–1687)
• COTTON, GEORGE EDWARD LYNCH (1813–1866)
• COTTON, JOHN (1585–1652)
• COTTON, SIR ROBERT BRUCE

cotton market is influenced by the markets in New See also:

• ORLEANS
• ORLEANS, CHARLES, DUKE OF (1391-1465)
• ORLEANS, DUKES OF
• ORLEANS, FERDINAND PHILIP LOUIS CHARLES HENRY, DUKE OF (1810-1842)
• ORLEANS, HENRI, PRINCE
• ORLEANS, HENRIETTA, DUCHESS
• ORLEANS, JEAN BAPTISTE GASTON, DUKE
• ORLEANS, LOUIS
• ORLEANS, LOUIS PHILIPPE JOSEPH
• ORLEANS, LOUIS PHILIPPE ROBERT, DUKE
• ORLEANS, LOUIS PHILIPPE, DUKE OF (1725–1785)
• ORLEANS, LOUIS, DUKE OF (1372–1407)
• ORLEANS, PHILIP I
• ORLEANS, PHILIP II

Orleans and other See also:

• AMERICAN

American cities separated from it widely in space . In a See also:

• MINOR
• MINOR (Lat. for smaller, lesser)
• MINOR, ROBERT CRANNELL (1839-1904)

minor degree the dealers in all places where a cotton market exists affect the bigger markets to some extent . What is true of the cotton market is also true to some extent of all markets, though few markets are so highly organized or show such large transactions as that for cotton . Among other markets of the first class may be mentioned those for See also:

• PIG
• PIG (a word of obscure origin, connected with the Low Ger. and Dut. word of the same meaning, bigge)

pig-See also:

• IRON [symbol Fe, atomic weight 55.85 (0=16)]

iron, wheat, See also:

• COPPER (symbol Cu, atomic weight 63.1, H=1, or 63.6, O = 16)

copper, See also:

• COFFEE (Fr: cafe, Ger. Kaffee)

coffee, and See also:

• SUGAR

sugar:; There are many articles the markets for which are of considerable dimensions at times, but are of an intermittent See also:

• CHARACTER (Gr. xapareri7p, from xap&crew, to scratch)

character, such as the London See also:

• WOOL, WORSTED AND WOOLLEN MANUFACTURES

Wool Sales, which take place now in five " See also:

• SERIES (a Latin word from serere, to join)

series " during the See also:

• YEAR

year . Formerly the number of " series " was four . (For " market overt " see See also:

• SALE
• SALE, GEORGE (c. 1697-1736)
• SALE, SIR ROBERT HENRY (1782—1845)

SALE OF GOODS and STOLEN GOODS.) Characteristics of Markets.—The conditions required in See also:

• ORDER
• ORDER (through Fr. ordre, for earlier ordene, from Lat. ordo, ordinis, rank, service, arrangement; the ultimate source is generally taken to be the root seen in Lat. oriri, rise, arise, begin; cf. " origin ")
• ORDER, HOLY

order that the operations of a trading body may display the fully-See also:

• DEVELOPED

developed features of a modern market, whether for commodities or securities, are: (I) A large number of parties dealing . investigation of the See also:

• DYNAMICS
• DYNAMICS (from Gr. bbvayts, strength)

dynamics of a market is in any case very difficult, and is impossible without a See also:

• COMPLETE

complete See also:

• ANALYSIS (Gr. avci and Meta, to break up into parts)

analysis of the statical See also:

• CONDITION (Lat. condicio, from condicere, to agree upon, arrange; not connected with conditio, from condere, conditum, to put together)

condition, such as is found at length in the textbooks of mathematical See also:

• ECONOMICS

economics; but it is possible to describe briefly certain dynamical phenomena of markets which are of a comparatively See also:

• SIMPLE

simple character, and are also of See also:

• PRACTICAL

practical See also:

• INTEREST

interest . Every See also:

• GREAT

great market is organized with a view not merely to the See also:

• PURCHASE

purchase and sale of a commodity at once, or " on the spot," but also with a view to the future require- Future ments of buyers and • sellers . This organization Delivery . arises naturally from the necessities of business, since modern See also:

• INDUSTRY (Lat. industria, from indu-, a form of the pre, position in, and either stare, to stand, or struere, to pile up)

industry and See also:

• COMMERCE
• COMMERCE (Lat. commercium, from, cum, together, and rnerx, merchandise)

commerce are carried on continuously, and See also:

• PROVISION (Lat. provisio)

provision has to be made for the requirements, say, of a See also:

• SPINNING (from O. Eng. spinnen, to spin, cf. Ger. spinnen, &c., the Teut. root is seen, to draw out, cf. span, spider)

spinning-See also:

• MILL
• MILL (O. Eng. mylen, later myln, or miln, adapted from the late Lat. molina, cf. Fr. moulin, from Lat. mola, a mill, molere, to grind; from the same root, mol, is derived " meal;" the word appears in other Teutonic languages, cf. Du. molen, Ger. muhle)
• MILL, JAMES (1773-1836)
• MILL, JOHN (c. 1645–1707)
• MILL, JOHN STUART (1806-1873)

mill, by arranging for the delivery of successive quantities of cotton, wool or See also:

• SILK

silk over a period of months " ahead." In the case of cotton, " forward deliveries " can be See also:

• PURCHASED

purchased six or seven months in advance, and the See also:

• PERSON, OFFENCES AGAINST THE

person who undertakes to deliver the cotton at the times stated is said in the See also:

• LANGUAGE (adapted from the Fr. langage, from langue, tongue, Lat. lingua)

language of the market to " sell forward." If the quantity of cotton produced each year were always the same, no very remarkable results would follow from this mode of doing business, except the See also:

• ECONOMY

economy resulting to the spinner from not being compelled to See also:

• LOCK (from the O. Eng. loc.; the word appears, in different forms, in many Teutonic languages, but with such various meanings as " hole," Ger. Loch, " lid," Swed. lock, &c.; probably the original was a root meaning " to enclose ")
• LOCK, MATTHIAS

lock up part of his See also:

• CAPITAL (i.e. capital stock or fund)
• CAPITAL (Lat. caput, head)

capital in raw material before he could use it .

But as the cotton and other crops vary considerably from year to year, some curious consequences follow from the practice of " selling forward." The seller, of course, makes his bargain in the belief that he will be able to " See also:

• COVER (from the Fr. convert, from couvrir, to cover, Lat. cooperire)

cover " the sale he has made at a profit—that is, he hopes to be able to buy the cotton he has to deliver at a See also:

• LOWER

lower See also:

• PRICE
• PRICE, BARTHOLOMEW (1818–1898)
• PRICE, BONAMY (1807-1888)
• PRICE, RICHARD (1723-1791)

price than he undertook to deliver it at . If so, all is well for both parties, for the buyer has had the See also:

• ADVANTAGE

advantage of having insured a See also:

• SUPPLY (through Fr. from Lat. supplere, to fill up)

supply of cotton . But supposing something has happened to raise the price considerably, such as a great " shortage " of the See also:

• CROP (a word common. in various forms, such as Germ. Kropf, to many Teutonic languages for a swelling, excrescence, round head or top of anything; it appears also in Romanic languages derived from Teutonic, in Fr. as troupe, whence the English " crupper "

crop, the seller May lose .