With these two dollars saved, John will purchase a pair of shoes, James a book, William a piece of furniture, etc.

Human labor, in the general, will thus continue to be encouraged to the amount of fifty millions; but this sum, beside giving the same number of hats as before, will add the gratifications obtained by the twenty millions which the machine has spared.

These gratifications are the net products which America has gained by the invention.

It is a gratuitous gift, a tax, which the genius of man has imposed on Nature.

We do not deny that, in the course of the change, a certain amount of labor may have been _displaced_; but we cannot agree that it has been destroyed, or even diminished.