31[?] Polit. Economy. Analysis 29 Aug 1801

[Col. 2]

56.

Labour {encreasing

{diminishing

All other circumstances given the quantity of wealth produced within a given time will be as the quantity of labour {performed within that time.}

57.

But taking each branch of industry separately, the quantity of wealth produced by labour within a given time being given the quantity of wealth produced in the whole community in that time, will naturally be inversely as the quantity of labour exerted in that branch: becasue the less labour is bestwoed in any particular branch or say the greater the quantity of labour withdrawn from any particular branch The quantity of wealth produced in it not being thereby diminished—the more is left free to be employd in other branches.

[col. 3]

57.

This gives the solution of what otherwise might seem a paradox: viz that wealth is encreased, as well by /diminishing/diminution of/ labour as by the encrease of it.

[Col. 4]

58.

Labour(Quantity

(Efficiency

In every instance where an encrease in the quantity of wealth has been produced, an encrease in the quantity of labour bestowed has been {an eff} contributory to that encrease—or say an efficient cause of it or not: if not if the encrease has not been in the quantity of labour so bestowed, it has been in /the effect/the efficiency/ of the quantity of labour so bestowed.

The division is therefore an exhaustive one.

[Col. 5]

59.

Large Scale

Ways in which the concentration of a large mass of capital in one set of hands—that is under one management—is favourable to the encrease of wealth.

N o 15

1. Division of Labour. thence encrease of skill in regard to each operation. A. Sm

N o 16. II. 4

2. Division of Labour—thence saving goings and comings—expence of conveyance in minute distances. A. Sm. A. Sm II. 5

3. Introduction of machinery—thence substitution of agents less expensive than man in the character prime movers (sources of motion) and guides.

N o 0

4. Saving in respect of receptacles: the ratio of containing matter to contained space being less and less in proportion as the recptacle is greater and greater.

[Col. 6]

59.

5. Saving in respect of fragments of labour on the part of the managing hands, and other hands whose whole time is constantly paid for. If there In a small establishment if there is more work than can be done by two, three must be retained, although there be not /half/a quarter/ enough work to fill up the time of the third.

N o 0

6. Like saving in respect of cattle and dead instruments (tools or machines) which are but occasionally in use.

N o 0

7. Saving in respect of the employment of refuse articles: articles which if disposed in several establishments and situations would be hardly worth collecting but which possess a value worth regarding when ready collected in one.

[Col. 7]

59.

Large Scale

N o 23

8. Saving by purchases made at wholesale price. Not only the profit of the intermediate class or classes of dealers is thus saved, but the expence of conveyance from one to the other.

N o 16

9. Employment of cheaply paid hands. By means of the division of labour, employment may be found for hands of imperfect ability for whom employment could not have been otherwise found to advantage. Hence the labour of these hands may be obtained at a cheap rate with reference to the expence of the particular master, and perhaps even for nothing with reference to the expence of the community taken together: for the labourer thus maintained /out of/by/ the pay for which he [...?] pays in labour might otherwise have been to be kept for nothing.

[Col. 8]

59.

Large Scale

Apply this not to large manufactories only but to large Farms.

N o 0

10. Applying to each work the hands best adapted to that work. The faculty of doing this will be as the choice of hands, and that as the number of hands.

11. In Agriculture the faculty of making improvements rising one above another indefinitely in respect of the mass of capital required: ex gr: Manuring, draining, making Roads and other Communications.

So in regard to mining:

[Col. 9]

60.

Ways in which and means whereby the expence (real expence) attending the /extraction[?]/production/ of any article at the place where it is wanted to be employd may be reduced.

[Col. 10]

Preservation is

1.—for consumption as in cases of articles that are of use no otherwise than as consumed—as food drink &c.

2.—against consumption or say deperition as in cases of Houses furniture, cloaths &c.