for its productiveness upon times and trade,
but is steadily accumulating, and is always ready at hand for use when
the pinch of adversity occurs.

[Footnote 1: "The new cotton factories which have been called
co-operative, and which, under that name, have brought together large
numbers of shareholders of the wage classes, are all now in reality
common joint-stock companies, with limited liability. The so-called
co-operative shareholders in the leading establishments decided, as I am
informed, by large majorities, that the workers should only be paid
wages in the ordinary manner, and should not divide profits. The wages
being for piecework, it was held that the payment was in accordance with
communistic principle, 'each according to his capacity, each according
to his work.' The common spinner had had no share in the work of the
general direction, nor had he evinced any of the capacity of thrift or
foresight of the capitalist, and why should he share profits as if he
had? The wage class, in their capacity of shareholders, decided that it
was an unjust claim upon their profits, and kept them undivided to
themselves."--_Edwin Chadwick, C.B._]

Mr. Bright stated in the House of Commons, in 1860,[2] that the income
of the working classes was "understated at three hundred and twelve
millions a year." Looking at the increase of wages which has taken place
during the last fifteen years, their income must now amount to at least
four hundred millions.

[Footnote 2: Speech on the Representation of the People Bill.]

Surely, out of this large fund of earnings, the working classes might
easily save from thirty to forty millions yearly. At all events, they
might save such an amount as, if properly used and duly economized,
could not fail to establish large numbers of them in circumstances of
comfort and even of comparative wealth.

The instances which we have already cited of persons in the humbler
ranks of life having by prudential forethought accumulated a
considerable store of savings for the benefit of their families, and as
a stay for their old age, need not by any means be the comparatively
exceptional cases that they are now. What one well-regulated person is
able to do, others, influenced by similar self-reliant motives, and
practising like sobriety and frugality, might with equal ease and in one
way or another accomplish. A man who has more money about him than he
requires for current purposes, is tempted to spend it.