of these one hundred workingmen. A new machine, however, which should dispense with the work of fifty of these one hundred men usually requires the expenditure of a large sum of money entirely out of proportion with the weekly allowance of the fifty workingmen whose labor is dispensed with. That is why modern capitalistic enterprises require such large amounts of capital properly to carry them on. The new machine must therefore not only cost in original price and expenses of keeping less than it would cost to employ the fifty men during the time of service of this machine, but it must also pay sufficient to warrant the large investment of capital involved in its introduction. In other words, the labor-saving quality of the\ machine must be a very substantial one. A mere small saving of labor will not warrant the introduction of costly machinery, requiring, as it usually does, an entire change of the system of production and large expenditures not only in the buying of the machine itself but also in its accommodation in buildings, etc., and involving as it does, the destruction of much old capital.
Now, if it were true that the workingmen who are thrown out of employment by this machine can be re-employed in the production of this very machine, that is to say, if it required as much labor to produce this machine as it was formerly required to produce the product which this machine is now to produce, there evidently will not only be, no cheapening of production, but on the contrary, production will become more expensive for it will require the same expenditure of work or labor (for the machine and the product together), and a larger outlay of capital. Evidently, this machine must not require in its production the same amount or even nearly the same amount of labor which would be required to produce the products which it produces.
Of course, the same number of people may be employed in producing this machine, but this machine should produce a vastly larger amount of product than was ever be-
