H6 Essay on Sfieej). 



ten per cent, or about two shillings and five^ 

 pence; the whole labour then employed in the 

 manufacture is only seven shillings and one 

 penny sterling. Suppose the price of labour 

 here to be fifty per cent, higher, which exceeds 

 the fact, then the price of the material being 

 the same, the cost of making it here should be 

 three-eighths more than in England, that is, three 

 shillings and eight-pence upon twenty-four shil- 

 lings; and cloth of that price, if manufactured 

 in the United States should sell for twenty-seven 

 shillings and eight-pence sterling, or about five 

 dollars and sixty-three cents (five shillings ster- 

 ling to the dollar), whereas no imported cloth of 

 that quality can be purchased here for less than 

 twelve dollars. What an immense saving then 

 would it be to the United States to cultivate the 

 breed of sheep which will furnish materials for 

 an article on which they now pay upwards of 

 100 per cent. ! what a field does it open both to 

 the manufacturer and the farmer! While the 

 one can aftbrd to give two dollars and fifty cents 

 per pound for wool, the other, even after hav- 

 ing received that advanced price, can purchase 

 his cloth much cheaper than he can now do, 

 when he sells the fleeces of his flock at thirty- 

 six cents per pound. But how much greater 

 ^till will be the profit, if he manufactures his 



