which govern production. These laws are founded upon the natural action of the system of exchange, carrying forward all its operations by the natural action of the great principle of demand and supply. When capital and labour know how to accommodate themselves to the direction of these natural laws, they are in a healthy state with respect to their individual rights, and the rights of industry generally. They are in that state in which each is working to the greatest profit in carrying forward the business of production. The story of the prodigal goes on to say, "He then looked out for the next thing that might chance to offer; and went with indefatigable industry through a succession of servile employments, in different places, of longer and shorter duration." Here we see the principle of Demand and Supply still in active operation. "He _looked out_ for the next thing that might chance to offer." He was ready with his supply of labour immediately that he saw a demand for it. Doubtless, the "indefatigable industry" with which he was ready with his supply created a demand, and thus he had in some degree a control over the demand. But in most cases the demand went before the supply, and he had thus to watch and wait upon the demand. In many instances demand and supply exercise a joint influence and control, each with regard to the other. Pliny, the Roman naturalist, relates that in the year 454 of the building of Rome (300 years before Christ) a number of barbers came over from Sicily to shave the Romans, who till that time had worn long beards. But the barbers came in consequence of being sent for by a man in authority. The demand here distinctly went before the supply; but the supply, doubtless, acted greatly upon the demand. During a time of wild financial speculation in Paris, created by what is called the Mississippi bubble, a hump-backed man went daily into the street where the stock-jobbers were accustomed to assemble, and earned money by allowing them to sign their contracts upon the natural desk with which he was encumbered. The hump-back was doubtless a shrewd fellow, and saw the difficulty under which the stock-jobbers laboured. He supplied what they appeared to want; and a demand was instantly created for his hump. He was well paid, says the story. That was because the supply was smaller than the demand. If other men with humps had been attracted by the demand, or if persons had come to the street with portable desks more convenient than the hump, the reward of his service would naturally have become less. He must have yielded to the inevitable law by which the amount of circulating capital, as compared with the number of labourers, prescribes the terms upon which capital and labour are united.