It has been objected to me, that I have exposed too freely the secrets of trade. The only real secrets of trade are industry, integrity, and knowledge: to the possessors of these no exposure can be injurious; and they never fail to produce respect and wealth.
The alterations in the present edition are so frequent, that I found it impossible to comprise them in a supplement. But the three new chapters, "On Money as a Medium of Exchange;"—"On a New System of Manufacturing;" and "On the Effect of Machinery in reducing the Demand for Labour;" will shortly be printed separately, for the use of the purchasers of the first edition.
I am inclined to attach some importance to the new system of manufacturing; and venture to throw it out with the hope of its receiving a full discussion amongst those who are most interested in the subject. I believe that some such system of conducting manufactories would greatly increase the productive powers of any country adopting it; and that our own possesses much greater facilities for its application than other countries, in the greater intelligence and superior education of the working classes. The system would naturally commence in some large town, by the union of some of the most prudent and active workmen; and their example, if successful, would be followed by others. The small capitalist would next join them, and such factories would go on increasing until competition compelled the large capitalist to adopt the same system; and, ultimately, the whole faculties of every man engaged in manufacture would be concentrated upon one object—the art of producing a good article at the lowest possible cost:—whilst the moral effect on that class of the population would be useful in the highest degree, since it would render character of far greater value to the workman than it is at present.
To one criticism which has been made, this volume is perfectly open. I have dismissed the important subject of the Patent-laws in a few lines. The subject presents, in my opinion,
