means of production, ruins the small manufacturer, and drives him into the proletariat. Then, the rate of interest falling in proportion as capital accumulates, the little rentiers and retired tradespeople, who can no longer live upon their small incomes, are forced to look out for some business again and ultimately to swell the number of proletarians. Finally, the more productive capital grows, the more it is compelled to produce for a market whose requirements it does not know—the more supply tries to force demand, and consequently crises increase in frequency and in intensity. But every crisis in turn hastens the concentration of capital, adds to the proletariat.
Thus, as productive capital grows, competition among the workers grows too, and grows in a far greater proportion. The reward of labor is less for all, and the burden of labor is increased for some at least.
In 1829 there were, in Manchester, 1088 cotton spinners employed in 36 factories. In 1841 there were but 448, and they tended 53,353 more spindles than the 1088 spinners did in 1829. If manual labor had increased in the same proportion as productive force, the number of spinners ought to have risen to 1848; improved machinery had, therefore, deprived 1100 workers of employment.
We know beforehand the reply of the economists—the people thus thrown out of work will find other kinds of employment. Dr. Bowring did not fail to reproduce this argument at the Congress of Economists. But neither did he fail to contradict himself. In 1833, Dr. Bowring made a speech in the House of Commons upon the 50,000 hand-loom weavers of London who had been starving without being able to find that new kind of employment which the free traders hold out to them in the distance. Let us hear the most striking portion of this speech of Mr. Bowring.
