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 now rises to 3 shillings 7$1⁄5$ d. without any variation in the price of labour. The same result might follow if, instead of the extensive amount of labour, its intensive amount increased, The rise of the nominal daily or weekly wages may therefore be accompanied by a price of labour that remains stationary or falls. The same holds as to the income of the labourer’s family, as soon as the quantity of labour expended by the head of the family is increased by the labour of the members of his family. There are, therefore, methods of lowering the price of labour independent of the reduction of the nominal daily or weekly wages.

As a general law it follows that, given the amount of daily, weekly labour, &c., the daily or weekly wages depend on the price of labour which, itself varies either with the value of labour-power, or with the difference between its price and its value, Given, on the other hand, the price of labour, the daily or weekly wages depend on the quantity of the daily or weekly labour.

The unit measure for time-wages, the price of the working-hour, is the quotient of the value of a day’s labour-power, divided by the number of hours of the average working-day. Let the latter be 12 hours, and the daily value of labour-power 3 shillings, the value of the product of 6 hours of labour. Under these circumstances the price of a working-hour is 3d,