OF LARGE FACTORIES.
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inherently defective: for it is obvious, that the little master manufacturers cannot afford, like the man who possesses considerable capital, to try the experiments which are requisite, and incur the risks, and even losses, which almost always occur, in inventing and perfecting new articles of manufacture, or in carrying to a state of greater perfection articles already established. He cannot learn, by personal inspection, the wants and habits, the arts, manufactures, and improvements of foreign countries; diligence, economy, and prudence, are the requisites of his character, not invention, taste, and enterprise; nor would he be warranted in hazarding the loss of any part of his small capital. He walks in a sure road as long as he treads in the beaten track; but he must not deviate into the paths of speculation. The owner of a factory, on the contrary, being commonly possessed of a large capital, and having all his workmen employed under his own immediate superintendence, may make experiments, hazard speculation, invent shorter or better modes of performing old processes, may introduce new articles, and improve and perfect old ones, thus giving the range to his taste and fancy, and, thereby alone enabling our manufacturers to stand the competition with their commercial rivals in other countries. Meanwhile, as is well worthy of remark (and experience abundantly warrants the assertion), many of these new fabrics and inventions, when their success is once established, become general among the whole body of manufacturers; the domestic manufacturers themselves thus benefiting, in the end, from those very factories which had been at first the objects of their jealousy. The history of almost all our other manufactures, in which great improvements have been made of late years, in some cases at an immense expense, and after numbers of unsuccessful experiments, strikingly illustrates and enforces the above remarks. It is besides an acknowledged fact, that the owners of factories are often amongst the
