246 Memoir of the Life of Eli Whitney. 
if the patentee succeeds in procuring the renewal of his patent, he 
will be too rich. There is no probability that the patentee, if the 
term of his patent were extended for twenty years, would ever ob- 
tain for his invention one half as much as many an individual will 
gain by the use of it. Up to the present time, the whole amount of 
what he has acquired from this source, (after deducting his expences,) 
does not exceed one half the sum which a single individual has gain- 
ed by the use of the machine in one year. It is true that considera- 
ble sums have been obtained from some of the States where the ma- 
chine is used ; but no small portion of these sums has been expend- 
ed in prosecuting his claim in a State where nothing has been ob- 
tained, and where his machine has been used to the greatest advan- 
e. ‘ 
« Your memorialist has not been able to discover any reason why 
he, as well as others, is not entitled to share the benefits of his own 
labors. He who speculates upon the markets, and takes advantage 
of the necessities of others, and by these means accumulates propel 
ty, is called “a man of enterprise”—“a man of business”—he is 
complimented for his talents, and is protected by the laws. He 
however only gets into his possession, that which was before i the 
possession of another; he adds nothing to the public stock ; and can 
he who has given thousands to others, be thought unreasonable, if he 
asks one in return? 
“Tt is to be remembered, that the pursuit of wealth by means of 
new inventions, is a very precarious and uncertain one ;—a lotte 
where there are many thousand blanks to one prize- Of all the va 
rious attempts at improvements, there are probably not more than 
one in five hundred for which a patent is taken out; and of all the 
patents taken out, not one in twenty has yielded a net profit to the 
patentee equal to the amount of the patent fees. In cases where # 
useful and valuable invention is brought into operation, the rewa? 
ought to be in proportion to the hazard of the pursuit. 
for damages have been instituted against those W 
the right of patentees; and it is a fact, that very rarely has 
patentee ever recovered. If you would hold out inducemen 
men of real talents to engage in these pursuits, your =f 
must be sure and substantial. Men of this description ©” a 
late, and will know how to appreciate, the recompence which nd 
are to receive for their labors. If the encouragement el ie 
specious and delusive, the discerning will discover the fallacy: * 
