exercising a moderate degree of caution in increasing their numbers. Wages must increase when capital increases more rapidly than population, and it is the duty of the working man, therefore, to take every reasonable precaution to check the increase of population and to accelerate the augmentation of capital. Can working-men, by combination, permanently raise the rate of wages? One gentleman presiding at a meeting of the National Association for the Promotion of Social Science for the discussion of the labor question, very fairly said, "It is not in the power of the men alone, or of the masters alone, or of both combined, to say what shall be the amount of wages at any particular time in any trade or country. The men and the masters are, at most, competitors for the division, at a certain rate, of a certain fund, provided by [themselves and] others--that is, by the consumers. If that fund is small, no device can make the rate of profit or rate of wages higher." This is in theory quite correct, if it means that no device can make the total divisible greater than it is, but not if it refers to the increase of profit or wages by partial distribution. In practice, although it is true that if the fund be small and the seekers to share it be many, the quotient to each must be necessarily very small, yet it is also true that a few of the competitors--_i.e._ the capitalists, may and do absorb for their portions of profits an improper and unfairly large amount, thus still further reducing the wretchedly small pittance in any case receivable by the mass of laborers. It is warmly contended that the capitalist and laborer contend for division of the fund appropriable in fair and open field; that the capitalist has his money to employ, the man his labor to sell; that if workmen are in excess of the capitalist's requirements, so that the laborer has to supplicate for employment, wages can not rise, and will probably fall; but that if, on the contrary, capital has need to invite additional laborers, then wages must rise. That is the law of supply and demand brought prominently forward. In great part this is true, but it is not true that capital and labor compete in fair and open field, any more than it is true that an iron-clad war vessel, with heavy ordnance, would compete in fair field with a wooden frigate, equipped with the material in use thirty years ago. Capital is gold-plated, and carries too many guns for unprotected labor.