a week, could earn L2 by working
at lace frame-making in Nottingham.
On examining the nature of this profitable work, the master
clockmakers perceived that one part of the bobbin net machines,
that which held the bobbins, could easily be made in their own
workshops. They therefore contracted with the machine-makers, who
had already more work ordered than they could execute, to supply
the bobbin carriers, at a price which enabled them, on their
return home, to give such increased wages as were sufficient to
retain their own workmen, as well as yield themselves a good
profit. Thus an additional facility was afforded for the
construction of these bobbin net machines: and the conclusion was
not difficult to be foreseen. The immense supply of bobbin net
thus poured into the market, speedily reduced its price; this
reduction in price, rendered the machines by which the net was
made, less valuable; some few of the earliest producers, for a
short time, carried on a profitable trade; but multitudes were
disappointed, and many ruined. The low price at which the fabric
sold, together with its lightness and beauty, combined to extend
the sale; and ultimately, new improvements in the machines,
rendered the older ones still less valuable.
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