UPON MANUFACTURES.

287

“ from the fall in prices of nets beyond the reduction“ in the prices of cotton and wages. This class“ of persons having become indebted to the cotton“ merchant, have been compelled to pay a com-“ paratively excessive price for the thread they have“ used, and to sell their goods at the lowest prices“ of the market. Besides, their machines are princi-“ pally narrow and making short pieces, while the“ absurd system of bleaching at so much a piece“ goods of all lengths and widths, and dressing at“ so much all widths, has caused the new machines“ to be all wide, and capable of producing long“ pieces; of course to the serious disadvantage,“ if not utter ruin, of the small owner of narrow“ machines.

“ It has been observed above, that wages have“ been reduced, say 25 per cent, in the last two“ years, or from 24s. to 18s. a week. Machines“ have increased in the same time one-eighth in“ number, or from four thousand to four thousand“ five hundred, and one-sixth in capacity of produc-“ tion. It is deserving the serious notice of all“ proprietors of existing machines, that machines“ are now introducing into the trade of such power“ of production as must still more than ever depre-“ ciate (in the absence of an immensely increased“ demand) the value of their proparty, have a direct“ tendency to sink the small owners into journeymen,“ and either greatly increase the labour, or depreciate“ the workman’s wages. It is a curious fact, as“ illustrative of the progress of machinery, that there“ are bohbin-net machines, which being worked by“ three men, six hours each, or eighteen hours per