The affairs of the concern underwent perpetual and anxious consideration by the partners. They thought apart, they consulted together, they exercised the greatest possible care to promote the interest of all concerned in all their measures. Knowing that it is an unfounded prejudice that the interests of the two parties united in production can be opposed to each other, they wished that their men should understand the reasons of their measures and approve of them, and were therefore ever ready to converse with such as made their complaints or proposed their doubts in a reasonable manner. Some such there were, and some had already informed themselves sufficiently respecting the fluctuations to which trade is liable, to be more sorry than surprised at the present state of things; but there were many more who were ignorant enough to suppose that their earnings were never to be lessened, however the fortunes of their masters might be suffering; and who made as heavy complaints at every mention of a reduction of wages as if they had been treated with injustice. It was hard for the partners, who were as benevolent as they were discreet, to bear these complaints in addition to their own change of fortune; but they would willingly have listened to them, if the grumblers would in turn have heard their reply. This, however, the men were unwilling to do. If they had chosen, they might have known that the affairs of the concern stood thus. The capital employed in this iron-work was made up, as we have seen, of three parts,—the implements of labour, the material on which labour was to be employed, and the subsistence, or wages, of labourers.—Of these three parts, the first, comprehending the buildings, machinery, and tools, came under the head of fixed capital. The second and third, comprehending the mineral material of the manufacture and the wages of the work-people who carried it on, constituted the reproducible capital of the concern. The fixed capital had not itself brought in any profit; its purpose had been to enable the reproducible capital to bring in a profit: that is, the furnaces and steam-engine had yielded no money themselves, but were necessary to bring the iron-stone into a saleable shape. When the bar-iron sold well, it not only paid the owners the interest of the money they had laid out as fixed capital, and whatever they had spent in iron-stone and in wages, but a great deal over for profit. This profit was called their revenue, and out of it they paid the expenses of living, and then added what remained to their capital, which enabled them to employ more labour, to produce more iron, and therefore to increase again their revenue and their capital. If all had proceeded smoothly, if there had been a continually increasing demand and no foreign competition, it is clear that the wealth of the partners and the prosperity of the concern would have gone on continually increasing; but as it did not, a change in the employment of the capital