These circumstances are sufficient to account, in part, for the different prices of labor, in southern India, and in the northern parts of Europe, and of the United States. Laborers in Batavia are hired for four cents a day; and, in India, I believe, they are hired for a less sum. This would scarcely pay for the fuel, with which the meals of a northern laborer are cooked.

It would seem, at first view, from these facts, that laborers in southern latitudes would have a great advantage over those at the north, and must, of necessity, undersell them in every thing. But such seems not to be the case. The enervating nature of the climate, unfits them for labor; and indisposes them to the putting forth of intellectual skill. Hence it is, that this labor is mere feeble muscular force, accompanied by scarcely any of the advantages derived from natural agents. The rigors of a northern latitude, compel men to invention, and invigorate them for continued effort. Hence, although a northern laborer receives one dollar, or one dollar and fifty cents per day, and the Hindoo receives only four cents, yet the former is, in fact, the cheaper laborer; that is, it is the most economical to employ

And the evidence of this is seen in the fact, that raw cotton is, at present, carried from India, manufactured in Great Britain, and then, carried back to India, and sold cheaper than it can be made in India by the native workmen.

SECONDLY. I have, thus far, treated only of the cost of simple labor; that is, of labor with which no such skill is united, as requires a previous education.

But, this is only a part of the labor which is employed by man. A large portion of it, requires special and peculiar training. This, of course, adds to its cost. Suppose, as I have already stated, that the natural price of simple labor were merely sufficient to sustain a family, consisting of the ordinary number of persons. A man would, therefore, by labor, without any education, under such circumstances,

earn this amount. But, if another labored for the same number of hours, but labored at an operation which he could not learn to perform, without spending six or seven years in acquiring an education, it is manifest that the second would be entitled to additional wages. Thus, suppose the laborer must spend seven years in acquiring a knowledge of his trade. During this time he is earning nothing. Now his wages, at compound interest, if he had been at profitable labor, would amount to a considerable sum, specially if they had been invested in capital, which might have been united with his own labor. He is entitled, therefore, to such an addition to his wages, as would pay the interest upon this amount. Besides, in many cases, the learner not only earns nothing, but is obliged to board and clothe himself. This amount is to be added to the capital which he has expended, and for which his wages should pay the interest. Nor is this all. The learner is frequently obliged to pay a large sum for instruction. This, also, is to be added to his investment, for which he is to be paid when we employ him. Thus, in the learned professions, a student is obliged, commonly, to spend two or three years in preparing for college, to spend four years in college, and three years in professional studies, before he is permitted to practice. During the whole of these nine or ten years, in which he earns nothing, he must be fed, clothed and furnished with books, and must pay a very considerable sum to his instructors for tuition. He must, in most cases, also possess the means to meet all these expenses, before he commences. Now, had he used such a sum skilfully, from the time at which he commenced, to that at which he concluded his studies, it would have amounted to a small competency. He is, therefore, fairly entitled, in addition to the price of simple labor, to such wages as would pay the interest of whatever such a sum would have amounted to, had it been used with ordinary skill.

Wages, which, in addition to the price of simple labor, would pay the interest of whatever is expended in procuring the necessary education, would hence be the lowest cost of such labor. And, it is manifest, also, that these should vary with the cost of the investment necessary for acquiring the skill. Thus, the wages of him who was obliged to sustain himself while a learner should be higher than those of him, who, though he earned nothing, was boarded and clothed by his teacher. The wages of him who was obliged to pay for his tuition, should be higher than those of him, who, though he boarded and lodged himself, received his tuition for his services. And, if such wages be not generally paid, such labor will not ordinarily be produced. Parents who have capital to bestow upon their children, are generally desirous of investing it to the best advantage. If the capital necessary to furnish a professional education, will not improve the condition of a child, the parent will not invest the money in a professional education, but will employ it, for the advantage of his child, in some other way. In this manner, the supply of such labor will be diminished, until necessity obliges men to offer greater inducements to produce it..

II. Of the supply and demand for simple and educated Labor.

FIRST. Of the supply of Simple Labor. I have before stated that the number of children born, does not depend either upon the riches or the poverty of the parents; but that the number born, is generally greater among the poor, than among the rich. I have also stated, however, that the number reared does depend, very greatly, upon the circumstances of the parents. When the wages of parents are barely sufficient to rear two children, but two will be reared; the rest will die in infancy. When wages will allow of rearing four, four will, on an average, be reared; and so on, until we arrive at the natural limit of fecundity of the human race, supposing the

habits of the parents to be virtuous, industrious, and frugal. Now, as simple labor requires nothing but healthy human beings, it is manifest that the supply of this labor will be in proportion to the demand; that is, if wages be such as to indicate an actual demand for a large increase of labor, a large increase of labor will be the result. If wages be such as to demand only a diminished amount of labor, a diminished number of laborers will be reared. And this result will take place, until, on the one hand, it reaches the limit of the natural increase of the human race; or until, on the other hand, the number of human beings be so reduced by death or by emigration, that it can be sustained by the wages which industry can command.

If this first limit be reached; that is, if wages be so high as to support all the children that are born, and yet there be a want of laborers, wages will rise very high; and the deficiency will generally be supplied by immigration. Laborers from less favored countries will then flow in, to supply the demand. The overburdened population of an older country will be drained off, and the surplus capital of a new country will be profitably employed.

2. Such is the case with simple labor, or that which is produced by the mere multiplication of human beings. The same principles apply, in substance, to that sort of labor which consists of industry, directed by previously acquired skill, but which requires no special natural endowment. In this case, as has been remarked, if the investment made in education will afford sufficient emolument, in addition to that obtained by simple labor, it will be produced. If this additional emolument be insufficient, it will not be produced; that is, men will not be educated for this particular occupation; or, if they have been educated for it, they will leave it, and devote themselves to some other pursuit.

3. But, it frequently happens, that not only an education, but also peculiar native talent is necessa

ry, in order to arrive at eminence, in a particular pursuit. When this is the case, the supply is limited by the gift of the Creator, and cannot be increased by the agency of man. No pecuniary emolument could create the talent of a Milton or a Shakspeare, a Cicero or a Demosthenes, a Watt or a Fulton. Hence, the demand for such talent being great, and the supply limited, and by human effort incapable of increase, the exchangeable value of its productions is frequently great. The emoluments of Sir Walter Scott were princely. It not unfrequently happens, however, that this sort of talent is in advance of its age, and its value is not appreciated until after the death of its possessor. Although, however, demand cannot create unusual genius, yet it is the fact, that, whenever the demand is greatest for any particular talent, then, that talent is most likely to arise. The reason I suppose to be, that, in proportion to the encouragement which it receives, the less is the liability that any portion of that which the Creator has bestowed will be lost. Military talent, which is commonly held in the high estimation, seems to be of very frequent occurrence. A nation has rarely any real need for it, without producing, in a short time, as great an amount of it as can be desired. The same remarks apply, in a considerable degree, to the talent for invention; for scientific investigation; for eloquence; and many others.

SECONDLY. Of demand for Labor. We have already divided labor into two kinds, viz: First, Simple labor, comprehending, under this term, that which requires only that skill which every person may easily acquire; and, secondly, that which requires some peculiar talent, and is perfected only by long and expensive training. We shall here, as above, consider these separately.

I. Of Simple Labor, and that which requires only such skill as may be easily acquired by all.

This is the sort of labor required to produce the necessaries of life; that is, labor in the several de