Where each little locality is for most oldinary purposes selfdependent, using its own agricultural and other natural resources to supply the needs of its own inhabitants by its own industry, such
natural happenings as droughts, storms, floods, diseases of crops and cattle, must involve great irregularity of enlployment. Where millers only grind the wheat grown ,vithin a few miles of the mill, where spinners and weavers are entirely dependent for their wool upon a single country-side, employment even in the staple manufactures must remain very uneven and precarious. Every expansion in the area of the market for raw materials and for products evidently diminishes the aggregate waste of industrial energy from these natural causes. For it is less likely that crops will fail over an entire county than in a single parish, in the whole country than in a single county; and when there is a world-market for wheat the aggregate waste will be reduc.ed to a minimum. Every improvement in transport, in storage, and in markets, equalises both in space and time the uses of raw materials for production and for consumption, and tends correspondingly to regularise the working of the whole industrial system..