_that
such occupations can never be more profitable; that they must usually be
less profitable; and that they are always more exposed to vicissitudes
than any other class_.

They never can be more profitable, because capital and enterprise will
always be attracted to any occupation which offers a larger profit than
the usual rate, till it is reduced to a level with others; they will
usually be less profitable, indeed always in a community of increasing
numbers, because the price being maintained by restriction above the
price of the world, prevents an extension of such trades in the same
proportion as those who naturally belong to them, and look to them for
occupation, increase in numbers: they will be exposed to greater
vicissitudes, because, being confined to the supply of only one market,
any accidental circumstance, which either increases the usual supply, or
diminishes the usual demand, will cause an infinitely greater depression
than if they were in a condition to avail themselves of the markets of
the whole world, over which they could spread an accidental and unusual
surplus.

Thus, previous to 1824, the silk manufacturers of this country were
protected to a greater extent than any other trade, and the price of
silk goods was maintained much above the rate of other countries; our
silk trade was therefore necessarily confined almost exclusively to the
home market and our colonies, and though they had a monopoly of those
markets, it was at the cost of exclusion (on account of higher price)
from all other markets.

Notwithstanding this monopoly, the silk manufacturers could never
command at any time larger _profits_ than other trades; for had they
done so, competition would have increased until the rate was reduced to
the common level of the country: on the contrary, the tendency was for
profits and rates of wages to be smaller than in other great
manufacturing branches, requiring equal capital and skill; because, with
the increasing numbers who belonged to the silk trade,--the sons of
manufacturers and of weavers, who naturally, in the first instance, look
to the trade of their parents for their occupation,--the trade did not
proportionably increase, from the fact of our being unable to extend our
exports; and, lastly, it was exposed to much greater vicissitudes than
other trades; for when, either from a temporary change of fashion or
taste, or from a temporary stagnation of trade in this country, the
accusto