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 powell] TECHNOLOGY, OR THE SCIENCE OF INDUSTRIES 337

him. The ultimate correlation is dependent on the equity of transactions.

There is still another phase of transportation that must be mentioned without stopping to fully set forth its nature. A man's wants may be supplied by transporting supplies to him- self, or they may be supplied by transporting himself to them. No inconsiderable part of transportation is employed in trans- ferring individuals themselves.

The substances that are employed in transportation are air, water, rocks, plants, and animals. The constructions that are em- ployed in transportation are (i) those which are designed to utilize the air, such as ships that are impelled by sails and pneumatic tubes which are utilized by air pressure ; (2) those constructions which are employed to utilize water for transportation, such as the steam-engine and that machinery by which material is transported from one part of the mill to another by water-power ; (3) those which are employed to utilize wood, or coal (which is fossilized wood), for transportation ; (4) those appliances which are necessary to utilize animal muscles for transportation, such as saddles, common road vehicles, and all of those articles which have become necessary when human beings transport freight ; (5) all of the tools and machinery which are employed in the utilization of electricity for transportation.

Exchange or Merchandizing — The man whose industry is buy- ing and selling goods is the exchanger, and he regards goods or freight as commodities. Goods or freight thus become commodi- ties to him, but the merchant has to buy his commodities instead of to manufacture them. The industry of merchandizing is there- fore distinct from the industry of transportation, as the merchant is also distinct from that of the mechanician who produces useful powers, or from the constructor who produces useful forms, or from the industry of the man who produces useful substances. The elements of merchandizing are buying, storing, exchanging, delivering, and gaining. In buying, the merchant must consider

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