the firm, are not in some proportion to be divided among the subordinates of it.
2. I do not wish, for the moment, to enter into any inquiry as to the just claims of capital, or as to the proportions in which profits ought to be, or are in actually existing firms, divided. I merely take the one assured and essential condition, that a somewhat larger income will be in co-operative firms secured to the subordinates, by the diminution of the income of the chief. And the general tendency of such a system is to increase the facilities of advancement among the subordinates; to stimulate their ambition; to enable them to lay by, if they are provident, more ample and more early provision for declining years; and to form in the end a vast class of persons wholly different from the existing operative:—members of society, possessing each a moderate competence; able to procure, therefore, not indeed many of the luxuries, but all the comforts of life; and to devote some leisure to the attainments of liberal education, and to the other objects of free life. On the other hand, by the exact sum which is divided among them, more than their present wages,
