“Nothing was said, therefore, about the length of time that your labour and our capital were to work together: and it was well that there was not; for in time both the changes happened that I have described. First, the demand for labour increased so much that you asked higher wages, which we cheerfully gave, because the prosperous state of trade pointed them out as your due. After a while the opposite change took place. Demand declined, prices fell, and we could not afford to give you such high wages, and you agreed to take less, and again less, as trade grew worse. So far both parties were of one mind. Both felt the change of times, and were sorry on account of all; but neither supposed that the other could have helped the misfortune. The point on which they split—unhappily for both—was the introduction of new machinery.” Here there was a murmur and bustle among the people below, which seemed to betoken that they were unwilling to hear. Some, however, were curious to know what Mr. Wallace would say, and cried “Silence!” “Hush!” with so much effect that the speaker was soon able to proceed. “As no profit can be made, no production raised from the ground, or manufactured in the furnace or the loom, or conveyed over land and sea, without the union of capital and labour, it is clear that all attempts to divide the two are foolish and useless. As all profit is in proportion to the increase of labour and capital, as all the comforts every man enjoys become more common and cheap in proportion as these two grow in amount, it is clear that it must be for the advantage of everybody that labour and capital should be saved to the utmost, that they may grow as fast as possible. The more capital and labour, for instance, there is spent upon procuring and preparing mahogany, the more cheap will be mahogany tables and chairs, and the more common in the cottages of the working classes. In the same way, broad-cloth was once a very expensive article, because very few attempted to manufacture it; but now, when many more capitalists have set up their manufactories of broad-cloth, and much more labour is spent upon it, every decent man has his cloth coat for Sundays. In like manner the more capital and labour can be saved to be employed in the iron-trade, the cheaper and more common will iron be: and if it can be an evil to us that it is already cheaper, we must find a remedy in making it more common, more extensively used, so that the quantity we sell may make up for the lowering of the price. It is plain, then, that all economy of capital and labour is a good thing for everybody in the long run. How is this saving to be effected?