And the professor calls this an "analysis!" If, giving credence to the out-cries of the manufacturers, he believed that the workmen spend the best part of the day in the production, i. e., the reproduction or replacement of the value of the buildings, machinery, cotton, coal, &c., then his analysis was superfluous. His answer would simply have been:—Gentlemen! if you work your mills for 10 hours instead of 1112, then, other things being equal the daily consumption of cotton, machinery, &c., will decrease in proportion. You gain just as much as you lose. Your work-people will in future spend one hour and a half less time in producing or replacing the capital that has been advanced.—If, on the other hand, he did not believe them without further inquiry, but, as being an expert in such matters, deemed an analysis necessary, then he ought, in a question that is concerned exclusively with the relations of net profit to the length of the working day, before all things to have asked the manufacturers, to be careful not to lump together machinery, workshops, raw material, and labour, but to be good enough to place the constant capital, invested in buildings, machinery, raw material, &c., on one side of the account, and the capital advanced in wages on the other side. If the professor then found, that in accordance with the calculation of the manufacturers, the workman reproduced or replaced his wages in 2 half-hours, in that case, he should have continued his analysis thus:
According to your figures, the workman in the last hour but one produces his wages, and in the last hour your surplus-value or net profit. Now, since in equal periods he produces equal values, the produce of the last hour but one, must have the same value as that of the last hour. Further, it is only while he labours that he produces any value at all, and the amount of his labour is measured by his labour-time. This you say, amounts to 1112 hours a day. He employs one portion of these 1112 hours, in producing or replacing his wages, and
vanced. There remain 3 half-hours, which yield 323 × £115,000 = £15,000 or the gross profit. Of these 3 half-hours, one yields 123 × £115,000 = £6000; i. e., it makes up for the wear and tear of the machinery; the remaining 2 half-hours, i. e., the last hour, yield 223 × £115,000 = £10,000 or the net profit. In the text Senior converts the last 223 of the product into portions of the working day itself.
