ABSTRACT
The pinmaker, the weaver, the worker in a spinning mill, know how to produce more than the unskilled manual worker; they have acquired the knowledge of their trade by much labor and much longer privations. Yet, it has really cost a certain amount, and their work ought to pay an annuity on sunk capital, over and above the usual wage. The employment of machines to replace human labor is an operation similar to the call for, and creation of, new workers. In a country where provisions are dirt cheap, a manufacture which employs much labor is proper, because it multiplies consumers of its provisions. Similarly, in a country where capitals are cheap, a manufacture that uses up much capital, that demands very large investments, can be proper, because it will make capitals fruitful which did not find any employment. If any manufacture is established, it must be of the kind which employs much capital, much science, and few hands.
