Now for the question of profits; according to the economists.

1. When profits are high, wages are low; 2. In America, profits are very high;

3. Therefore, in America, wages are very low. Again,

1. When wages are low, profits are high; 2. Wages are very high in America ;

3. Therefore, profits are very low in America. Or thus,

1. When profits are low, wages are high; 2. In England, profits are very low;

3. Therefore, in England, wages are very high. And again,

1. When wages are low, profits are high;

2. Wages are very low in England;

3. Therefore, in England, profits are very high. Deuce take the conclusion! it always comes wrong, which ever way one looks for it. I had been puzzling myself to get over a difficulty in political-economy by means of logic, when growing more and more confused, I at last had the good luck to fall asleep. Good luck, I say, because during my sleep I had a dream, which explained to me why profits and wages, both together, are so low in England and so high in America. This was my dream :

I was shipwrecked and cast into the sea. I heard the shrieks of my shipmates who were drowning, and felt the pain of having my own

head struck against a rock. My next impression was less disagreeable. I found myself alone, but quite well, in Robinson Crusoe's island, walking up the green slope from the creek to the cave. Robinson came out by his ladder to meet me, and said with a smile-"Welcome! countryman." For my part, I embraced him tenderly, as an old and very dear friend. Presently, Friday ran up to us, and though he made me laugh by bowing very low and kicking up his legs, backwards, one after the other, expressing respect and joy at the same time, still I could not help shaking hands with him also, the faithful creature. Robinson asked me to take something after my voyage; but I, not to be behind him in politeness, seeing that he was in a hurry to show me all his fine things, said"Not at present, thank you; I should like to see your improvements." Hereupon he led me, first to his crops, which had a most creditable appearance; and then within the inclosure, where I admired his goats, the tools which had cost him so much trouble, and the great store of provisions and seeds which he had laid up. At length, we sat down to a very respectable dinner of fish and roasted kid; chatting as follows during the meal. Dreamer." Altogether, Mr. Crusoe, you seem quite at your ease."

Robinson." Why, yes, blessed be God! but I have had my trials. It was a sore trial when I was obliged to sow the seed that I would fain have

eaten, and when I had no Friday to help me; but I have been very comfortable since I got before the world, with a good stock of seeds, tools and goats: nay, since I lighted on Friday, I have lived like a gentleman, quite at my ease, as you say."

D. "You are a capitalist now, Robinson?"
R. "Capitalist! what is that?"

D. " Why, seeds, tools and goats, are capital, and as you possess these you are a capitalist. Friday works you direct him, and give him a share of the produce: Friday is a labourer."

R. "A labourer! yes, he works; a share! he takes what he pleases."

D. "Of course, high wages of labour, eh; and high profits of stock also, or you would not be so much at your ease, Mr. Robinson Crusoe."

R. "I have forgotten some of my English. High wages of labour, high profits of stock! what are they?"

D. "In this island, high wages mean, that you can let Friday take what he pleases without stinting yourself; and high profits mean, that Friday takes what he pleases without stinting you. Friday's labour, with the aid of your seeds, tools and goats, produces plenty for both of you."

R. "Yes-but hark! man Friday ! friend ! down upon your knees! here's another earthquake!"

And sure enough it was a terrible earthquake;

for though it hurt none of us and did not last a minute, when we recovered ourselves and passed from the cave, through the inclosure, and over the outer fence, behold, every part of the island was covered with water, except the rock which formed the cave and about half an acre of land in front of us. Robinson and his man knelt again, and returned thanks to God for having preserved our lives; whilst I stood by, distressed to think of what would become of them with only that half acre of land. Crusoe's calmness and resignation were quite admirable. Rising he embraced Friday, saying-" the Lord giveth and the Lord taketh away; blessed be the name of the Lord!" Poor Friday, however, began to cry; and I felt disposed to keep him company, when Robinson pointing to the inclosure said "We have plenty left, food for a year, seed, tools and goats; capital, sir, I think you called them?"

"But what," asked I, "is the use of capital without a field to employ it on? Your goats will be starved, and with no more than this little bit of land you will be unable to use half your tools, or a quarter of your seeds."

Robinson looked rather blank at this, but said "We must do with less; there will be less for Friday and less for me, but enough, I hope, to keep us alive."

"Low wages and low profits," said I; " but that is a shocking state to be in. Cannot you set

I

Friday to make, with the things that are left from your wreck, instruments and ornaments for some neighbouring savages, who have more food than In that way, if they know what to do with ?

Friday were expert and industrious, you might be better supplied than ever."

"Our neighbours," answered Robinson," would make food of us if they could."

"Oh !" said I, "I had forgotten that restriction on trade. Well, you cannot enlarge your field of production in that way, and it is a sad affair; but I know what the English political economists would advise ; for Friday's sake, at least."

"Political economists!" exclaimed Robinson, "who are they?"

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They are," I replied "a new sect, and have set up a new god, which is called Capital, and which they worship devoutly."

"The wicked idolaters! but what would they advise?"

"Only for Friday's sake, mind, in order that his wages might be higher, they would advise you to increase your capital."

"What! when I have already more than Friday and I shall know how to use ?”

"Yes; with abundance of capital, they believe, wages are sure to be high."

"And my share, the profits I think you called it, how is that to be made high ?"

"By diminishing your capital, so that wages