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between 1660 and 1685, it was complained that the mechanics demanded one shilling a day for their labor, though they often accepted less. In 1830, the wages of the English carpenter was five shillings and six pence per day. The legal rate of interest, which had been, in the time of Henry VIII., ten per cent, and in the reign of James I. eight per cent, was, in 1660, six per cent; and it fell, the next century, to five per cent. The common rate in England, to-day, is from three to four per cent. This increase of the price of labor and cheapening of capital prove, as by a double argument, that capital grows faster than the laboring power of the world. But the full breadth of the proof is not seen without taking into account that capital plays constantly a relatively larger part, and labor constantly a smaller part, in the world's work. Machinery, which is one of the forms of capital, has replaced a large part of the hand laborers of former times, thus increasing the demand for capital and diminishing relatively the demand for labor; and yet the aggregate increase of capital has grown so far beyond the increasing aggregate demand, that its price steadily falls, while the aggregate demand for labor has so steadily outgrown the supply that work has multiplied and wages increased even faster than the interest on capital has fallen.

H. C. Carey has interpreted this increase of wages and diminution of interest as an increase of the value and power of men over the power and value of capital. He says ("Principles of Social Science"): "With the growth of wealth and numbers, the power of combination increases, with great increase in the productiveness of labor, and in the power of accumulation,—every step in that direction being attended by decline in the power of the already existing capital to command the services of the laborer, and by increase of power on the part of the latter to command the aid of capital. The laborer's proportion of the increased product tends thus steadily to increase, while that of the capitalist tends as regu

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larly to decline." This aspect of the fact is doubtless also true as a result, the larger demand for labor over the demand for capital giving the laborer power over capital. Mr. Carey also brings out the fact that, notwithstanding the diminished rate of interest, the capitalist gets a larger return than before. He states that in France, in the period from 1700 to 1840, the average wages of agricultural labor quadrupled. At the first date, the proportion of products allotted the laborer was thirty-five per cent; at the latter date, it was sixty per cent; the land-owner retaining, in the first case, sixty-five per cent, and in the latter, forty per cent. But so great has been the increase of product, that the smaller proportion of the latter date gave to the capitalists 2,000,000,000 francs in place of 850,000,000 francs, which they received at the earlier one.

203. No antagonism of capital and labor.-It seems almost unnecessary, after the facts already stated, to affirm that there is no antagonism between labor and capital,—that their true relation is one of mutual dependence and helpful coöperation. But this antagonism is so frequently implied or paraded in popular speech, that it seems wise and needful to notice the question here, if for no other reason, yet to send it where it properly belongs-to the chapter on Distribution of Wealth and to Social Economy.

It has already been shown that capital without labor can earn nothing (the interest on money loaned being in the last analysis paid out of production), and that labor without capital-that is, without its tools, materials, and supplies-can scarcely win its daily food. A quarrel between labor and capital would be a quarrel between the worker and his tools-between raw materials and the hand that proposed to shape them into things of beauty and utility.

The antagonism, if one exists, must be between the laborer and the capitalist, as men; and it comes about from some disagreement as to the share which each shall have of the products of their united work and wealth. It is, therefore, a ques

tion of the distribution of values. But, as it also involves questions of the rights and well-being of both capitalists and laborers, it belongs also to Social Economy.

204. The great forms of work. Groups of industry. The field of work must now be viewed under another aspect. Our survey has thus far taken in its great factors,— nature's gifts, labor, and capital, under their general laws and relations; but, under a closer view, the innumerable industries will be seen to group themselves into a few great classes, each having its own special field and its own distinctive forms of materials, labor, and capital.

In our first broad glance at the field of work, Chapter X, we saw before us man confronting the world of matter and force, and our inquiry showed that his power over nature was limited to three great classes of changes which he might effect: 1. Changes in substances; 2. Changes in forms; and, 3. Changes in place. These three furnish the ground and occasion for the chief subdivision of human industries.

The changes of substance are effected by nature's vital and chemic molecular forces, and may be counted, therefore, as including all nature's immediate products, animal, vegetable, and mineral. Man, in these, does but watch and serve natural processes, and collect for himself their products.

The changes in forms are such as man imposes upon crude matter, shaping the raw and commonly worthless materials into forms designed by his own thoughts. These products are preeminently products of mechanic art. The changes in place are the transportation of goods and materials from their places of production to those of final use or consumption. They involve, as their necessary adjunct, the exchanges of goods.

The general features of these groups of changes have already been given with sufficient fullness in Chapter X. We now recall them to study their economic conditions; and, for the convenience of the reader and student, we show them first in outline.

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The limits of this volume forbid more than a brief discussion of one or two of these.



205. Synoptical view.-Agriculture, the widest employment of mankind, has marked features which give it a distinct as well as a prominent place in economic science. As our discussion of it must be limited to a single chapter, in place of the volume which it properly demands, it will help us to present it first in outline, as follows:

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