Nor, in this view of
the subject, must we omit the fact, that although hand-looms
would have increased in number if those moved by steam had not
been invented, yet it is the cheapness of the article
manufactured by power-looms which has caused this great extension
of their employment, and that by diminishing the price of one
article of commerce, we always call into additional activity the
energy of those who produce others. It appears that the number of
hand-looms in use in England and Scotland in 1830, was about
240,000; nearly the same number existed in the year 1820: whereas
the number of power-looms which, in 1830, was 55,000, had, in
1820, been 14,000. When it is considered that each of these
powerlooms did as much work as three worked by hand, the
increased producing power was equal to that of 123,000
hand-looms. During the whole of this period the wages and
employment of hand-loom weavers have been very precarious.
413. Increased intelligence amongst the working classes, may
enable them to foresee some of those improvements which are
likely for a time to affect the value of their labour; and the
assistance of savings banks and friendly societies, (the
advantages of which can never be too frequently, or too strongly,
pressed upon their attention), may be of some avail in remedying
the evil: but it may be useful also to suggest to them, that a
diversity of employments amongst the members of one family will
tend, in some measure, to mitigate the privations which arise
from fluctuation in the value of labour.
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