The Industrial Revolution

Bibliographic data

Monograph

Identifikator:: 1027928145

URN:: urn:nbn:de:zbw-retromon-159926

Document type:: Monograph

Author:: Cunningham, William http://d-nb.info/gnd/128907487

Title:: The Industrial Revolution

Place of publication:: Cambridge

Publisher:: The University Press

Year of publication:: 1922

Scope:: xxii S., S. 404-886

Digitisation:: 2021

Collection:: Economics Books

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536 . LAISSEZ FAIRE AD.1776 the repeal of this part of the measure, since it had long ~— 18350. b . . fallen into desuetude, and the principle of the Act was con- This had " - julien into demned by exponents of the fashionable Political Economy of desuetude, the day’. The House of Commons does not appear to have thought it necessary to make any further enquiry into the probable effect of their action on the one class in the com- munity who addressed them on the subject. Petitions were sent from several centres in Lancashire, but the Bolton petition may be quoted at some length. It sets forth that— “The Petitioners are much concerned to learn that a Bill has been brought into the House to repeal so much of the Statute 5 Eliz. as empowers and requires the Magistrates, in their respective jurisdictions, to rate and settle the prices to be paid to labourers, handicrafts, spinners, weavers, etc, and that the Petitioners have endured almost constant reductions in the prices of their labour for many years, with sometimes a trifling advance, but during the last 80 months they have continued, with very little alteration, so low, that the average wages of cotton weavers do not exceed 5s. per week, though other trades in general earn from 20s. to 30s. per week ; and that the extravagant prices of provisions of all kinds render it impossible for the Petitioners to procure food for themselves and families, and the parishes are so burthened that an adequate supply cannot be had from that quarter; and that in the 40th year of His present Majesty, a Law was made to settle disputes between Masters and Workmen, which Law, having been found capable of evasion, and evaded, became unavailing ; after which in 1802, 1803, and 1804, applications being made to amend that of the 40th, another Law was of the cotton weavers, backed with the consent of their employers.” Parl. Debates, x1. 426, 427. 1 Chalmers held that the true interest of a manufacturing community can alone be effectually promoted by competition, which hinders the rise of wages among workmen and promotes at once the goodness and cheapness of the manu- facture. Chalmers, Estimate of the Comparative Strength of Great Britain, p. 37. Ricardo gave the sanction of his authority to this manner of dealing with the question when he spoke against any delay in the repeal of the Spitalfields Acts. * The principles of true political economy never changed, and those who did not understand that science had better say nothing about it, but endeavour to give good reasons, if they could find any, for supporting the existing act” (Parl. Debates, N. 8. 1x. 381. Compare Bonar, Letters of David Ricardo to Malthus, p. Xi}.

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