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Manufacturers put up new machinery, merchants mi zafers erect new warehouses or new shco-ins, the latter siten ver A expensive, ship-owners in spice of free trade huid new soS. and omnibus proprietors start new armags, min may sch case new capital is sunk. This is a gem of rat meta importance. Now, as a general mile. iv je fumi hat nev capital sunk in any particular business has been savi fum income made in that business. Hence nos of de neverments are those of persons invesong her ver agai prosperous trader or man faccre cannot n'es is sinis capital to so much advantage in my ide vy s is business. It this happens that prosperous imanenes of ndustry do, for the most part themselves penent de apa by which they are exten iei.

From this will be seen the peenar ffening v1 17 obstructs the application of new Torre Leng the last war, the immense recus winch were togamet zan et the farmers to go on, year aber rang de 1 savings in the land. This was the sea of de aquí ansion which then took place. The engines recet lev capital for itself, as manufactures e doing a nomear Lancashire; and the men and the money being ngene, wi out cumbrous and costly formaltes, new antes But no one can suppose that time as of late pare generated new capital. The most prosperona dermere t not have been able to do much more dan icut me ground, and for the great majority, their ad rá is 174 VA diminished since 1846, unless we are to suppose ** ***** dustry in previous years was as profcalle e viting. i wner, apital of their own to T T = "SPA ed cultivation vici, w

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would be ceraitiş testers.**. market is open to them, a % MAX ing them are indeed there, ve! il the farmers are are, we'r ity, rate of interest, and wha

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