POLITICAL ECONOMY. 



has within the last forty years the most rapidly 

 increased? Anyone will answer, the cotton and 

 the iron manufactures. But if we were asked in 

 what branches of manufacture has labour-saving 

 machinery been most extensively introduced, we 

 must also answer, the cotton and the iron manu- 

 factures. Moreover, if we compare any manufac- 

 ture in which machinery has been introduced only 

 to a small extent with a manufacture in which 

 machinery has been extensively introduced, we 

 find that the labourers in the former are poorly 

 paid, and diminishing in number, while the 

 labourers in the latter are well paid, and are 

 increasing in number. These facts abundantly 

 demonstrate the benefit of machinery, even in 

 increasing the demand for labour. 



The reason is easily seen. Suppose that only 

 10,000 yards of cotton at a high price could be 

 sold in a given district, and it required 100 men 

 to make them. If, by introducing machinery, 

 these 10,000 yards could be made by 50 men, it 

 is evident that 50 men would be thrown out of 

 work. But suppose that, by the change, the 

 cotton cloth which was sold at 2s. could be sold 

 at is., so that twice the quantity could be purchased 

 with the same money, and that, owing to the great 

 fall in price, 20,000 yards were now wanted, there 

 would be a demand for just the same number 

 of workmen as before, so that the workman 

 would be just as well off as he was before. Sup- 

 pose, further, that when cotton was at 2s. a yard, 

 only those worth ^200 a year could afford to 

 purchase it, while now it is at is., those worth 

 ,100 per annum can become purchasers. The 

 number of persons in a community worth ^100 

 a year is more than double those worth ^200. 

 Hence the demand of this class alone would place 

 the labourer in as good circumstances as he was 

 before. But there must be added the demands 

 of those worth 120, ^150, and 200; and each 

 one of these classes will now use more cotton 

 cloth than the class of ,200 did formerly. Again, 

 by the reduction of price, cotton cloth may now 

 be used for purposes for which it would not 

 formerly have been thought of. In short, the 

 greater the productiveness of industry, the cheaper 

 will be its products, and the greater will be the 

 demand for them ; and, in general, the more 

 extensively labour-saving machinery is introduced 

 into any department, the greater will the demand 

 be for labourers in it. 



While the labourer is thus benefited in his wages 

 by the use of machinery, he is also benefited by 

 the cheapening of commodities. Every one knows 

 how much cheaper woollen and cotton goods, 

 carpets, newspapers, books, and most of the 

 necessaries of life now are than they were a few 

 years since. Not only are they cheaper, they are 

 also better. These benefits the labourer shares 

 with the rest of the community. He has therefore 

 a double advantage. His wages are raised, and 

 the price of what he purchases with them is 

 reduced. The rich man receives no higher inter- 

 est for his capital than before his wages remain 

 the same : his only advantage is, that with the 

 same money he can procure what he wants at a 

 cheaper rate, or in greater abundance. 



Of Conditions of Society Favourable to Productiveness. 



It is essential to the promotion of industry that a 

 man as far as possible be allowed to labour in the 



way he finds most productive, and to use as he 

 pleases all that he gains, provided he do this 

 without hurt to his neighbour. 



It is for the most part necessary that property be 

 vested in individuals, that each particular thing 

 belong exclusively to some one person. Unless 

 the land belong to some one, it will not be prop- 

 erly tilled. We see this in a country of savages, 

 where property is in common ; and in most com- 

 mons, so called, where no one having a particular 

 interest in any one part no part is cultivated. 



It is not enough that property be divided ; it 

 must be protected. It is for the interest of every 

 man in a community to see that none interfere 

 with another man's property. And the com- 

 munity have committed the charge of this to the 

 government. It is the special business of govern- 

 ment to protect individuals from violation of 

 the right of property ; and the industry of a 

 country depends very much upon the goodness 

 of its laws and the faithful execution of them. If 

 laws allow violation of property, many become 

 thieves instead of labourers ; and as thieving 

 produces nothing, there is soon left little to steal. 

 If, through neglect, the laws be not put into execu- 

 tion, the result is the same as if there were none. 



The right of property may be violated by indi- 

 viduals, as by robbing, stealing, house-breaking, 

 &c. Were this allowed, no one would labour at 

 all ; no one would labour for the sake of seeing 

 his property plundered and wasted by thieves and 

 robbers. The case is the same when property is 

 plundered and destroyed by mobs. If a man 

 would not labour for the sake of seeing his prop- 

 erty destroyed by one robber, he would not 

 labour any the more for the sake of seeing his 

 property destroyed by five hundred robbers. 



Governments themselves Sometimes violate the 

 laws and rights of property, as in many despotic 

 governments, and in times of civil disorder and 

 war. When this is so, a people becomes dispirited, 

 disorderly, and indolent. A man will not labour 

 his ground if he knows the crops will be 

 plundered. We see some of the most fertile 

 regions of the earth, under such a government, 

 lying almost uncultivated ; the inhabitants few, 

 and these poor and spiritless. Hence the import- 

 ance of good government. 



An important condition of society favourable 

 to productiveness is the intelligence of the people. 

 If ignorant, they neither are sensible of the im- 

 portance of industry, nor know how to use it It 

 is of consequence, therefore, that all should be, as 

 far as possible, enlightened by education and 

 suitable training. 



IV. EXCHANGE. 



We have seen that few people or none receive 

 from nature, or produce by their own labour, all 

 the commodities they desire to possess. One 

 inherits land, another raises corn, another builds 

 houses, another weaves cloth, and in due time 

 each exchanges what of these he does not require 

 for such other articles as he may desire out of 

 those owned by his neighbours. It is found in 

 the long-run that by such arrangement the supply 

 of commodities is indefinitely multiplied, and that 

 the community fares far better than if each mem- 

 ber of it had by his own labour to manufacture 

 whatever he wanted for himself. It is now proper 



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