288

EFFECT OF TAXES

“ day, are turning off twenty thousand square yards“ of good net per annum. Now it is not to be fairly“ denied, that such machines being multiplied to“ some extent, must, with only the actual demand,“ lower even the present trifling value of the six-“ teen hundred or seventeen hundred narrow hand-“ machines, one half or more, and reduce the rate of“ wages of those who work in them one-third, and“ that of the remaining hand-machine workmen at“ least one-fourth; or, which is the same thing,

compel them to increase their labour in the same

proportion.”

(316.) From this abstract, we may form somejudgment of the importance of the bobbin-net trade.But the extent to which it bids fair to be carried infuture, when the eastern markets shall be more opento our industry, may be conjectured from the factwhich Mr. Felkin subsequently states,—that, “ Me“ can export a durable and elegant article in cotton“ bobbin-net, at 4 d. per square yard, proper for eer-“ tain useful and ornamental purposes, as curtains,“ &c.; and another article used for many purposes“ in female dress at (id. the square yard.”

(317.) Of Patents. In order to encourage theimportation, the improvement, or the invention ofmachines, and discoveries relating to manufactures,it has been the practice in many countries, to grantto the first introducers, an exclusive privilege for aterm of years. Such monopolies are termed Patents ;and they are granted, on the payment of certain fees,for dilferent periods, from five to twenty years.

The following table, compiled from the Reportof the Committee of the House of Commons “ on