The Slave Trade, Domestic and Foreign: Why It Exists, and How It May Be Extinguished — John Shaqi
The Slave Trade, Domestic and Foreign: Why It Exists, and How It May Be ExtinguishedCarey, Henry Charles
History
The Slave Trade, Domestic and Foreign: Why It Exists, and How It May Be Extinguished
Carey, Henry Charles
Labor; Slave trade; Slavery; Slavery -- United States; Tariff -- United States; Working class
All labour thus expended in fashioning the great machine is but the
prelude to the application of further labour, with still increased
returns. With each such application, wages rise, and hence it is that
portions of the machine, as it exists, invariably exchange, when
brought to market, for far less labour than they have cost. There is
thus a steady decline of the value of capital in labour, and a daily
increase in the power of labour over capital, and with each step in
this direction man becomes more free. The man who cultivated the thin
soils was happy to obtain a hundred bushels for his year's work. With
the progress of himself and his neighbour down the hill into the more
fertile soils, wages have risen, and two hundred bushels are now
required. His farm will yield a thousand bushels; but it requires the
labour of four men, who must have two hundred bushels each, and the
surplus is but two hundred bushels. At twenty years' purchase this
gives a capital of four thousand bushels, or the equivalent of twenty
years' wages; whereas it has cost, in the labour of himself, his sons,
and his assistants, the equivalent of a hundred years of labour, or
perhaps far more. During all this time, however, it has fed and
clothed them all, and the farm has been produced by the insensible
contributions made from year to year, unthought of and unfelt.
It has become worth twenty years' wages, because its owner has for
years taken from it a thousand bushels annually; but when it had lain
for centuries accumulating wealth it was worth nothing. Such is the
case with the earth everywhere. The more that is taken from it the
more there is to be returned, and the greater our power to draw upon
it. When the coal-mines of England were untouched, they were
valueless. Now their value is almost countless; yet the land contains
abundant supplies for thousands of years. Iron ore, a century since,
was a drug, and leases were granted at almost nominal rents. Now, such
leases are deemed equivalent to the possession of large fortunes,
notwithstanding the great quantities that have been removed, although
the amount of ore now known to exist is probably fifty times greater
than it was then.
Public-domain text, read in full here on John Shaqi.
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