Mercatura

MERCATURA. - I. CONCEPT. - M., in general, is any exchange of goods or values. Among the various forms of exchange, buying and selling predominates.

Three main kinds of m. are distinguished: the profit-making, the economic, the industrial. Profit-making m. is a purchase inspired exclusively by the desire for gain. Two elements therefore distinguish it: the intention of reselling later at a higher price what was bought; and moreover of reselling it without first making any modification to it that might in any way have raised its economic value. If, on the other hand, one buys not with the aim of reselling at a higher price, but of satisfying one's own needs, even though in fact one will later find it more advantageous to resell, were it only for the reason of rising prices, one has economic m. To buy, finally, with the intention of reselling at a higher price what one has acquired, but after having raised its value by suitable processing, constitutes industrial m. In that case the excess of the selling price over the purchase price represents not only a profit, but also the remuneration for the labor of the modifications made, whether this labor has been carried out personally by the buyer or by others at his expense. In practice the three forms of m. can in various ways coexist or combine with one another and with every other economic activity, whether productive, industrial or commercial.

II. MORALITY

All three forms of trade are, in themselves, morally licit; but the profit-making form, dominated as it is exclusively by the desire for gain that is never satisfied, is not entirely consonant with the dignity of man. Moreover, it exposes one to grave dangers, when the craving for profit is not kept within the bounds of a higher purpose; for example, the support of one's family. It is furthermore certain that profit-making trade is alien to the work of sanctification of oneself and of others, to which clerics and religious dedicate their lives. Therefore the Church, in accordance with most ancient traditions, prohibits it for the former (can. 142) and for the latter (cann. 593 and 679 § 1) within the following limits.

The prohibition is against every form of profit-making trade. Included in it are stock-market speculations (v.) or in any case speculations on commercial shares and bonds; it remains lawful, however, to invest one's capital in such securities for the purpose of receiving the corresponding income (Holy Office, 13 April 1885). The prohibition also strikes industrial trade, but only when, in order to transform the merchandise to be resold at a higher price, the cleric or religious makes use of hired labor. This is the concordant interpretation of canonists and moralists, based moreover on the analogy of such trade with profit-making trade. The prohibition is grave; not, however, against isolated transactions, but against the practice of them, constituted by their multiplicity, under the influence of one and the same deliberation. This practice remains always gravely illicit, whether its execution is entrusted to others, or even whether the profits realized are destined to the advantage of others, of pious or profane causes. By decree of the Congregation of the Council, 22 March 1950, the transgression of this law is sanctioned with excommunication speciali modo reserved to the Holy See (AAS, 42 [1950], pp. 330-31).

For reasons evident in themselves, certain exceptions escape this ecclesiastical prohibition. If a cleric inherits a share in an economic activity based on profit-making trade, he may exploit it, carrying it on through his co-heirs; he is not obliged to renounce or to alienate his share. The practice of profit-making trade is also tolerated when it presents itself as the only means of support for oneself and one's family. In this case, however, so that everything may be conducted in a manner worthy of the clerical or religious state and only within the limits of necessity, the Ordinary will grant permission for it, at least as regards territories outside Italy (Clement XIII, Cum primum, 17 Sept. 1759). Probably also for Italy, after the promulgation of the new CIC, the permission of the Ordinary is sufficient and that of the Holy See is no longer necessary, as the cited document prescribed. Profit-making trade is also licit when it develops in an accessory manner alongside another principal economic activity (v. COMMERCIO).

Leonardo Azzollini