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--0£Lili.w. York*- 



THE 



POPULAR SCIEI^CE 

 MONTHLY 



MARCH, 1888. 



THE ECONOMIC OUTLOOK— PRESENT AND PROSPECTIVE. 



Br Hon. DAVID A. WELLS. 

 ECOlfOMIO DISTtJRBANCE SERIES, No. VIIL 



PART II. 



THE causes of the almost universal discontent of labor, which has 

 characterized the recent transitions in the world's methods of pro- 

 duction and distribution, and which, intensified by such transitions, 

 have been more productive of disturbances than at any former period, 

 (for, as pi'eviously shown, there are really no new factors concerned in 

 the experiences under consideration), would seem to be mainly these : 



1. The dis2)laceme)it or sup2)lantmg of labor through more econom- 

 ical a7ul effective methods of production and distribution. 



2. Changes in the character or nature of employinents consequent 

 upon the introduction of new methods — machinery or processes — which 

 in turn, it is claimed, have tended to loioer the grade of labor, impair- 

 the independence and restrict the mentcd development of the laborer. 



3. The increase hi intelligence, or general information, on the part 

 of the m,asses, in all civilized countries. 



To a review of the character and influence of these several causes, 

 separately and in detail, attention is next invited. 



And, frst, as to the extent and influence of the displacement of 

 labor through more economic and effective methods of production and 

 distribution. Of the injury thus occasioned, and of the suffering at- 

 tendant, no more pitiful and instructive example of recent date could; 

 be given, than the following account, furnished to the United States 

 Department of State,* of the effect of the displacement of hand-loom 

 weaving in the city of Chemnitz, Saxony, by the introduction, and use 

 of the power-loom : 



* Report of United States Consul George C. Tanner, Chemnitz, December,. IfiS 6. 

 VOL. XXXII. — 37 



