Of the above owners, one thousand work in their own machines, and enter into the class of journeymen as well as that of masters in operating on the rate of wages. If they reduce the price of their goods in the market, they reduce their own wages first; and, of course, eventually the rate of wages throughout the trade. It is a very lamentable fact, that one-half, or more, of the one thousand one hundred persons specified in the list as owning one, two, and three machines, have been compelled to mortgage their machines for more than their worth in the market, and are in many cases totally insolvent. Their machines are principally narrow and making short pieces, while the absurd system of bleaching at so much a piece goods of all lengths and widths, and dressing at so much all widths, has caused the new machines to be all wide, and capable of producing long pieces; of course to the serious disadvantage, if not utter ruin, of the small owner of narrow machines. It has been observed above, that wages have been reduced, say 25 per cent in the last two years, or from 24s. to 18s. a week. Machines have increased in the same time one-eighth in number, or from four thousand to four thousand five hundred, and one-sixth in capacity of production. It is deserving the serious notice of all proprietors of existing machines, that machines are now introducing into the trade of such power of production as must still more than ever depreciate (in the absence of an immensely increased demand) the value of their property. 431. From this abstract, we may form some judgement of the importance of the bobbin net trade. But the extent to which it bids fair to be carried in future, when the eastern markets shall be more open to our industry, may be conjectured from the fact which Mr Felkin subsequently states that 'We can export a durable and elegant article in cotton bobbin net, at 4d. per square yard, proper for certain useful and ornamental purposes, as curtains, etc.; and another article used for many purposes in female dress at 6d. the square yard.' 432. Of patents. In order to encourage the invention, the improvement, or the importation of machines, and of discoveries relating to manufactures, it has been the practice in many countries, to grant to the inventors or first introducers, an exclusive privilege for a term of years. Such monopolies are termed patents; and they are granted, on the payment of certain fees, for different periods, from five to twenty years. The following table, compiled from the Report of the Committee of the House of Commons on Patents, 1829, shows the expense and duration of patents in various countries: Countries; Expense (L s. d.); Term of years; Number granted in six years, ending in 1826.(Rep. p. 243.)