ADAPTATION 195 



part of the iron habitually consumed for other purposes, and 

 to raise the price of iron. Presently, the iron-makers feol 

 this change, and their stocks dwindle. As, however, the. 

 quantity of iron required for ship-building, forms but a small 

 part of the total quantity required for all purposes ; the ex- 

 tra demand on the iron-makers, can be nothing like so great 

 in proportion as is the extra demand on the ship- builders. 

 "Whence it follows, that there will be much less tendency to 

 an immediate enlargement of the iron-producing industry 

 the extra quantity will for some time be obtained by working 

 extra hours. Nevertheless, if, as fast as more iron can be 

 thus supplied, the ship- building industry goes on growing 

 if, consequently, the iron-makers experience a permanently- 

 increased demand, and out of their greater profits get higher 

 interest on capital, as well as pay higher wages ; there will 

 eventually be an abstraction of capital and labour from other 

 industries, to enlarge the iron-producing industry : new blast- 

 furnaces, new rolling-mills, new cottages for workmen, will 

 be erected. But obviously, the inertia of capital and labour 

 to be overcome, before the iron-producing industry can grow 

 by a decrease of some other industries, will prevent its growth 

 from taking place until long after the increased ship-build- 

 ing industry has demanded it ; and meanwhile, the growth 

 of the ship-building industry must be limited by the 

 deficiency of iron. A remoter restraint of the same nature, 

 meets us if we go a step further a restraint which can 

 be overcome, only in a still longer time. For the manu- 

 facture of iron depends on the supply of coal. The pro- 

 duction of coal being previously in equilibrium with the 

 consumption ; and the consumption of coal for the manu- 

 facture of iron, being but a small part of the total con- 

 sumption ; it follows that a considerable extension of the iron 

 manufacture, when it at length takes place, will cause but a 

 comparatively small additional demand on the coal-owners and 

 coal-miners a demand which will not, for a long period, suf- 

 fice to cause enlargement of the coal- trade, by drawing capita] 



