345. The durability of watches, when well made, is very remarkable. One was produced, in going order, before a committee of the House of Commons to enquire into the watch trade, which was made in the year 1660; and there are many of ancient date, in the possession of the Clockmaker's Company, which are still actually kept going. The number of watches manufactured for home consumption was, in the year 1798, about 50,000 annually. If this supply was for Great Britain only, it was consumed by about ten and a half millions of persons. 346. Machines are, in some trades, let out to hire, and a certain sum is paid for their use; in the manner of rent. This is the case amongst the framework knitters: and Mr Henson, in speaking of the rate of payment for the use of their frames, states, that the proprietor receives such a rent that, besides paying the full interest for his capital, he clears the value of his frame in nine years. When the rapidity with which improvements succeed each other is considered, this rent does not appear exorbitant. Some of these frames have been worked for thirteen years with little or no repair. But circumstances occasionally arise which throw them out of employment, either temporarily or permanently. Some years since, an article was introduced called cut-up work, by which the price of stocking-frames was greatly deteriorated. From the evidence of Mr J. Rawson, it appears that, in consequence of this change in the nature of the work, each frame could do the work of two, and many stocking frames were thrown out of employment, and their value reduced full three-fourths.(3*) This information is of great importance, if the numbers here given are nearly correct, and if no other causes intervened to diminish the price of frames; for it shews the numerical connection between the increased production of those machines and their diminished value. 347. The great importance of simplifying all transactions between masters and workmen, and of dispassionately discussing with the latter the influence of any proposed regulations connected with their trade, is well examplified by a mistake into which both parties unintentionally fell, and which was productive of very great misery in the lace trade. Its history is so well told by William Allen, a framework knitter, who was a party to it, that an extract from his evidence, as given before the Framework Knitters' Committee of 1812, will best explain it.