Principles of Political Economy: Abridged with Critical, Bibliographical, and Explanatory Notes, and a Sketch of the History of Political Economy
John Stuart Mill · en
61 Wyoming 17 2
62 Indian 25 2
Territory
63 Washington 24 1
64 Arizona 14 1
65 Idaho 19 1
66 Greece 58 0
67 Montana 10 0
68 Bosnia and 53 0
Herzegovina
69 Servia 56 0
70 Eastern 61 0
Roumelia
71 Montenegro 70 0
72 Andorra 72 0
(The United States have substantially one mile of railway to each 540
inhabitants. Europe has one mile to each 3,000 inhabitants, if Russia be
included; about one mile to each 2,540, exclusive of Russia.)
The materials of manufactures being all drawn from the land, and many of
them from agriculture, which supplies in particular the entire material of
clothing, the general law of production from the land, the law of
diminishing return, must in the last resort be applicable to manufacturing
as well as to agricultural history. As population increases, and the power
of the land to yield increased produce is strained harder and harder, any
additional supply of material, as well as of food, must be obtained by a
more than proportionally increasing expenditure of labor. But the cost of
the material forming generally a very small portion of the entire cost of
the manufacture, the agricultural labor concerned in the production of
manufactured goods is but a small fraction of the whole labor worked up in
the commodity.
Mr. Babbage(137) gives an interesting illustration of this
principle. Bar-iron of the value of £1 became worth, when
manufactured into—
£
Slit-iron, for nails 1.10
Natural steel 1.42
Horseshoes 2.55
Gun-barrels, ordinary 9.10
Wood-saws 14.28
Scissors, best 446.94
Penknife-blades 657.14
Sword-handles, polished steel 972.82
It can not, however, be said of such manufactures as coarse cotton
cloth, wherein the increased cost of raw cotton causes an
immediate effect upon the price of the cloth, that the cost of the
materials forms but a small portion of the cost of the
manufacture.(138)