Miscellaneous Series, Bulletins

Miscellaneous Series, Bulletins

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This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1892 edition. Excerpt: ...institutions designed to supply it. The process of supplementing human energy with a constantly increasing number and variety of labor-saving devices was in the main essentially a process of augmenting the proportion of capital employed in production. Larger and larger production, brought about by conjoining with human labor a larger and larger supply of the instruments calculated to increase its effectiveness--such has been the general course of industrial progress, each augmentation of wealth through the use of improved appliances being the stepping stone to a wider use of such appliances and through that to a still further augmentation of wealth. Those--whether in manufactures, agriculture, or elsewhere--who have had to continue the use of inferior implements have labored under a heavy disadvantage. Yet at some points in almost every field of industry, and often at many, the old appliances have remained in use long after they had disappeared elsewhere. There are communities in which the spinning wheel and loom are still implements of household industry. In Italy, even at so recent a date as that which saw the completion of Italian unity, modern agricultural implements were still almost unknown, and there are other European countries yet more backward; while even in the most advanced there are districts which have shared very meagerly in the general progress. Now wherever the inability to exchange old and inefficient appliances for more effective ones arises from the lack of capital, there exists a field for credit, provided it can be supplied with safety and on such terms that the interest required will not absorb too large a part of the gain resulting from the exchange in question. The works consulted on the subject of credit in Italy, and on...show more

Product details

  • Paperback | 264 pages
  • 189 x 246 x 14mm | 476g
  • Rarebooksclub.com
  • United States
  • English
  • black & white illustrations
  • 1236503139
  • 9781236503138