Baxter’s acceptance of the realities of his age makes the content of his teaching the more impressive. The attempt to formulate a casuistry of economic conduct obviously implies that economic relations are to be regarded merely as one department of human behavior, for which each man is morally responsible, not as the result of an impersonal mechanism, to which ethical judgments are irrelevant. Baxter declines, therefore, to admit the convenient dualism, which exonerates the individual by representing his actions as the outcome of uncontrollable forces. The Christian, he insists, is committed by his faith to the acceptance of certain ethical standards, and these standards are as obligatory in the sphere of economic transactions as in any other province of human activity. To the conventional objection that religion has nothing to do with business—that “every man will get as much as he can have and that caveat emptor is the only security”—he answers bluntly that this way of dealing does not hold among Christians. Whatever the laxity of the law, the Christian is bound to consider first the golden rule and the public good. Naturally, therefore, he is debarred from making money at the expense of other persons, and certain profitable avenues of commerce are closed to him at the outset. “It is not lawful to take up or keep up any oppressing monopoly or trade, which tends to enrich you by the loss of the Commonwealth or of many.”
But the Christian must not only eschew the obvious extortion practiced by the monopolist, the engrosser, the organizer of a corner or a combine. He must carry on his business in the spirit of one who is conducting a public service; he must order it for the advantage of his neighbor as much as, and, if his neighbor be poor, more than, for his own. He must not desire “to get another’s goods or labour for less than it is worth.” He must not secure a good price for his own wares “by extortion working upon men’s ignorance, error, or necessity.” When prices are fixed by law, he must strictly observe the legal maximum; when they are not, he must follow the price fixed by common estimation. If he finds a buyer who is willing to give more, he “must not make too great an advantage of his convenience or desire, but be glad that [he] can pleasure him upon equal, fair, and honest terms,” for “it is a false rule of them that think their commodity is worth as much as anyone will give.” If the seller foresees that in the future prices are likely to fall, he must not make profit out of his neighbour’s ignorance, but must tell him so. If he foresees that they will rise, he may hold his wares back, but only—a somewhat embarrassing exception—if it be not “to the hurt of the Commonwealth, as if … keeping it in be the cause of the dearth, and … bringing it forth would help to prevent it.” If he is buying from the poor, “charity must be exercised as well as justice”; the buyer must pay the full price that the goods are worth to himself, and, rather than let the seller suffer because he cannot stand out for his price, should offer him a loan or persuade someone else to do so. In no case may a man doctor his wares in order to get for them a higher price than they are really worth, and in no case may he conceal any defects of quality; if he was so unlucky as to have bought an inferior article, he “may not repair [his] loss by doing as [he] was done by, … no more than [he] may cut another’s purse because [his] was cut.” Rivalry in trade, Baxter thinks, is inevitable. But the Christian must not snatch a good bargain “out of greedy covetousness, nor to the injury of the poor … nor … so as to disturb that due and civil order which should be among moderate men in trading.” On the contrary, if “a covetous oppressor” offer a poor man less than his goods are worth, “it may be a duty to offer the poor man the worth of his commodity and save him from the oppressor.”
The principles which should determine the contract between buyer and seller are applied equally
