In looking back upon all the various circumstances which we have exhibited as necessary for carrying industry to the greatest point of productiveness, we think that we must have established satisfactorily that the two great elements which concur in rendering labour in the highest degree beneficial, are, 1st, the accumulated results of past labour, and 2nd, the contrivances by which manual labour is assisted,--those contrivances being derived from the accumulations of knowledge. Capital and skill, therefore, are essential to the productive power of labour. The different degrees in which each possesses capital and skill make the difference between an English manufacturer and a North American savage; and the less striking gradations in the productive power of the English manufacturer of the present time, and the English manufacturer of five hundred years ago, may be all resolved into the fact that the one has at his command a very large amount of capital and skill, and that the other could only command a very small amount of the same great elements of production. We think, also, that we have shown that the accumulation of former labour in the shape of tangible wealth, and the accumulation of former labour in the shape of the no less real wealth of knowledge, are processes which go on together, each supporting, directing, and regulating the other. Knowledge is the offspring of some leisure resulting from a more easy supply of the physical wants; and that leisure cannot exist unless capital exists; which allows some men to live upon former accumulations. Capital, therefore, may be said to be the parent of skill, as capital and skill united are the encouragers and directors of profitable labour. We have shown that the only foundation of accumulation is security of property--we have shown, too, that labour is the most sacred of properties. It results, therefore, that in any state of society in which the laws did not equally protect the capitalist and the labourer as free exchangers, each having the most absolute command over his property, compatible with a due regard to the rights of the other,--in such a state, where there was no real freedom and no real security, there would be very imperfect production; and production being imperfect, all men, the capitalists and the labourers, would be equally destitute, weak, ignorant, and miserable. It is under these several conditions, all working together with united force, that the entire labour of this country, and indeed of all other countries advanced in civilization, must now be directed. The enormous increase of productiveness which we have exhibited, in so many operations of industry, is chiefly the result of production carried on upon a large scale, and working with every possible application of science. It is in this sense that Knowledge is Power; and skilled labour is a part of that power. [Illustration: Medal to Locke]