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ON 1NDLrSTRIAL PARTNERSHIPS. 153
results by Professor Cairnes, in “Biacmillan’e Magazine,”
Januerg, 1865. But even where payment is by quantity,
tho men might usually save a great deal were their inhrests
enlisted in economy. Thus, in collieries, the hewing of tho
coal is paid by the weight got, nevertheless the value of tho
coal greatly depends upon the proportion of the large coal to
the broken coal and slack, and also upon the careful picking of
the coal from duff or rubbish. Agaiu, tho cost of the wooden
props, by which the roof is supported in a colliery, is a considemble
item in tho expenditure, and a careful coal-bcwer can
extract and save more than a careless one.
The Messrs. Briggs show that tho saving by care in thcir
own works might easily be as follows :*
In getting the coal unbroken ... ... E1500 a year.
In getting tho coal dean .,. ... 1500 ,,
In saving of props ... ... ... :WO ,,
-
Total saring . . . . . , E:nm ))
This is independent of savings derived from superior cam
of the workings and property of the colliery generally.
It would be obviously undesirable to adopt the partnership
arrangement where the risks of the business are very great,
and arise chiefly from speculative causes, so that the amount
of profit depends almost entirely upon t,he judgment and
energy of the principals. In such cases, doubtless, tho men
could not compensate their masters by superior care for tho
dividends they would receive; and as the risks would remain
nndiminished, the dividends wou.ld really be subtracted from
the legitimate profits of the capitalist. No one supposes for a
moment that the scheme could succeed under such circumstances.
But it would be entirely wrong to suppose that the
scheme cannot adapt itself to trades with varying risk. As the
Messrs. Briggs point out, there is DO particular reason for adopting
ten more than twelve or fift.een per cent., or any other rata
* **&port on the Formetion, Principle, and Operations of the System
of Industriel Partnership, adopted by Henry Briggs, Son & Go.,
w8kefie1a.n