890 PROCEEDINGS OF SECTION G. 
there would be increased earnings to the amount of £400, £100 
in the production and £100 in an additional production with the 
corresponding secondary incomes of the like amounts. 
(4.) The new production in a country of some article of inven- 
tion or utility not in use before. 
The result in the production and distribution of wealth may 
then be considered still greater, for there is in such a case a new 
source of wealth, in addition to all other available resources which 
it may be possible to utilise. 
Take for instance the manufacture or production of bicycles in 
a manufacturing country like the United States, where the whole 
of the raw material, or the whole with but a fractional portion 
will be manufactured, as well as the article itself. There is an 
addition to the wealth of the country, primarily, of the whole value 
of the production, except so far as some other industry is not 
displaced by the new utility, and the large expenditure in the 
country for the purchase of bicycles will not diminish the funds 
previously available for other expenditure. The new industry 
will promote an additional production of general products to the 
like amount, and the circulation of the wages and profits will give 
four incomes, each the value of the production ; in addition, in 
the first instance, to the expenditure of capital for the construc- 
tion of plant, which is generally one million for each million of 
annual production, and also the additional production which it 
will stimulate, and the secondary incomes, incident to both of 
such latter productions. There might also be an expenditure of 
capital for the erection of factories,in a new manufacturing 
industry, of three-fourths of a million, the general estimate for 
each million of production ; with the like results as to an addi- 
tional production and secondary incomes. In the case of the 
individual, it may be that some other expenditure will be curtailed ; 
but, taking the community in the aggregate, the funds for expendi- 
ture will be increased. It is otherwise in Australia where the 
bicycle is not manufactured ; the funds available in the aggregate 
for expenditure will be lessened by the amount paid for purchases. 
There will be some decreased earnings by those employed in other 
means of locomotion for the conveyance of passengers, or engaged 
in the breeding or care of horses, in the cultivation of pasturage 
and the procurement of fodder for the lesser number of horses 
employed ; but this will be very fractional in a manufacturing 
country which derives increased wealth, not only from the internal 
trade, but also from the supply of foreign markets. This increase 
of wealth in a country like the United States or England must 
be very great. Iam not aware if figures are available in respect 
to this particular industry. I find a statement in the Sczentific 
American for 1896 that over sixty million dollars (£12,000,000) 
nei: ig hy See 
