In the event of his success, by any of these
courses or by their joint effects, a real and substantial good
will be produced. A larger portion of the public will receive
advantage from the use of the article, and they will procure it
at a lower price; and the manufacturer, though his profit on each
operation is reduced, will yet, by the more frequent returns on
the larger produce of his factory, find his real gain at the end
of the year, nearly the same as it was before; whilst the wages
of the workman will return to their level, and both the
manufacturer and the workman will find the demand less
fluctuating, from its being dependent on a larger number of
customers.
287. It would be highly interesting, if we could trace, even
approximately, through the history of any great manufacture, the
effects of gluts in producing improvements in machinery, or in
methods of working; and if we could shew what addition to the
annual quantity of goods previously manufactured, was produced by
each alteration. It would probably be found, that the increased
quantity manufactured by the same capital, when worked with the
new improvement, would produce nearly the same rate of profit as
other modes of investment.
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