In the case of the smallest Venetian
chain the value of the labour is not above thirty times that of
the gold. The pendulum spring of a watch, which governs the
vibrations of the balance, costs at the retail price two pence,
and weighs fifteen one-hundredths of a grain, whilst the retail
price of a pound of the best iron, the raw material out of which
fifty thousand such springs are made, is exactly the same sum of
two pence.
214. The comparative price of labour and of raw material
entering into the manufactures of France, has been ascertained
with so much care, in a memoir of M. A. M. Heron de Villefosse,
Recherches statistiques, sur les Metaux de France.(2*) that we
shall give an abstract of his results reduced to English
measures. The facts respecting the metals relate to the year
1825.
In France the quantity of raw material which can be purchased
for L1, when manufactured into
Silk goods is worth L2.37
Broad cloth and woollens 2.15
Hemp and cables 3.94
Linen comprising thread laces 5.00
Cotton goods 2.44
The price of pig-lead was L1 1s. per cwt; and lead of the value
of L1 sterling, became worth, when manufactured into
Sheets or pipes of moderate dimensions L 1.
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