Engrossing

Engrossing, a term used to describe the conduct of those who buy up merchandise in large quantities to obtain command of the market. This was formerly an offence punishable by law and by municipal regulations; as were also the offences of forestalling (buying merchandise on its way to market) and badgering or regrating (buying to sell again at an unduly enhanced price). The old laws in restraint of trade were not found to work well. So far from making the necessities of life cheap as they were intended to do, they discouraged producers and traders, and so made prices abnormally high. The English statutes on the subject were therefore repealed in 1772, and the offences of engrossing, &c. were finally abolished, both in England and in Scotland, in 1844. In the United States, engrossing is a common-law offence; and the constitutions of several states declare that monopolies are 'contrary to the genius of true government;' but with the development of modern commerce these restrictions have become obsolete, and 'rings,' 'corners,' 'syndicates,' 'trusts,' are year by year becoming more common on both sides of the Atlantic.