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ductions might have become realised wealth, in some of its 
useful forms — such as the building of houses, improving 
lands, highways, and harbours, erecting mills, manufactories, 
and other industrial establishments, building ships, engines, 
and the like. In place, however, of any great extensions of 
such national wealth, a huge public debt was contracted, 
wherein was absorbed most of the savings of the wealthy 
classes of the nation, thus not only spending all the 
surplus creations of wealth of the passing generations but 
bequeathing a heavy burden to be borne as a drag upon the 
productive labour of the present and future generations. 
Let us be thankful that we are not crushed by this weight, 
and try to avoid the vices and follies of the past, and make 
better use of our surplus productions in future. It would 
seem worth while to enquire how it happens that the nation 
can now sustain such heavy drawbacks from the proceeds of 
its industry, and yet be able to accumulate wealth so 
rapidly and in .such abundance as we have seen in these 
later years. 
On this question a short retrospect will be useful. The 
great work of Jacob Leopold — “Theatrum Machinarum ,” 
published at Amsterdam about 200 years ago (I forget the 
exact date), contains a full description, with engravings, of 
all the tools and machines then used or known in Europe. 
It is curious to observe how few of either kind had been in 
any essential degree changed , either in their forms or prin- 
ciples of action before the beginning of the present century; 
as also how few of them had been superseded by new in- 
ventions for the same mechanical processes. Then com- 
menced the new era for employing the power driven 
machines in place of manual labour, for so many important 
purposes. 
We may thus see why a nation, however largely favored 
by its natural sources of wealth, may continue in nearly a 
stationary condition for long ages, until some awakening 
