Page:Das Kapital (Moore, 1906).pdf/255

Rh more than 11$1⁄2$ hours a day, that is 12 hours for 5 days in the week, and nine on Saturday.

"Now the following analysis (!) will show that in a mill so worked, the whole net profit is derived from the last hour. I will suppose a manufacturer to invest £100,000:—£80,000 in his mill and machinery, and £20,000 in raw material and wages. The annual return of that mill, supposing the capital to be turned once a year, and gross profits to be 15 per cent., ought to be goods worth £115,000.… Of this £115,000, each of the twenty-three half-hours of work produces 5-115ths or one twenty-third. Of these 23-23rd8 (constituting the whole £115,000) twenty, that is to say £100,000 out of the £115,000, simply replace the capital;—one twenty-third (or £5000 out of the £115,000) makes up for the deterioration of the mill and machinery. The remaining 2-23rds, that is, the last two of the twenty-three half-hours of every day, produce the net profit of 10 per cent. If, therefore (prices remaining the same), the factory could be kept at work thirteen hours instead of eleven and a half, with an addition of about £2600 to the circulating capital, the net profit would be more than doubled. On the other hand, if the hours of working were reduced by one hour per day (prices remaining the same), the net profit would be destroyed—if they were reduced by one hour and a half, even the gross profit would be destroyed."