This is
the case amongst the framework knitters: and Mr Henson, in
speaking of the rate of payment for the use of their frames,
states, that the proprietor receives such a rent that, besides
paying the full interest for his capital, he clears the value of
his frame in nine years. When the rapidity with which
improvements succeed each other is considered, this rent does not
appear exorbitant. Some of these frames have been worked for
thirteen years with little or no repair. But circumstances
occasionally arise which throw them out of employment, either
temporarily or permanently. Some years since, an article was
introduced called cut-up work, by which the price of
stocking-frames was greatly deteriorated. From the evidence of Mr
J. Rawson, it appears that, in consequence of this change in the
nature of the work, each frame could do the work of two, and many
stocking frames were thrown out of employment, and their value
reduced full threefourths.(3*)
This information is of great importance, if the numbers here
given are nearly correct, and if no other causes intervened to
diminish the price of frames; for it shews the numerical
connection between the increased production of those machines and
their diminished value.
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