demand new ones: but the statement which has been given of the usual progress in the improvement of the machinery employed in any manufacture, and of the average time which elapses before it is superseded by such improvements, is a complete reply to this objection. If our customers abroad did not adopt the new machinery contrived by us as soon as they could procure it, then our manufacturers would extend their establishments, and undersell their rivals in their own markets.
(447.) It may also be urged, that in each kind of machinery a maximum of perfection may be imagined, beyond which it is impossible to advance; and certainly the last advances are usually the smallest when compared with those which precede them: but it should be observed, that these advances are generally made when the number of machines in employment is already large; and when, consequently, their effects on the power of producing are very considerable. But though it should be admitted that any one species of machinery may, after a long period, arrive at a degree of perfection which would render further improvement nearly hopeless, yet it is impossible to suppose that this can be the case with respect to all kinds of mechanism. In fact the limit of improvement is rarely approached, except in extensive branches of national manufactures; and the number of such branches is, even at present, very small.
(448.) Another argument in favour of the exportation of machinery, is, that it would facilitate the transfer of capital to any more advantageous mode of employment which might present itself. If the exportation of machinery were permitted, there would
