Word: underbid
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...meet a part, at least, of the enormous demand, the high prices will prevail. Even then, however, they will decline very gradually and there is no prospect of an early lowering in prices. When Europe can take care of her own demand, she will then be able to underbid us in our markets and furnish goods at a lower price, for in Europe there are no such exorbitantly high wages paid as there are here...