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Rh other branches of industry there are even greater differences than these. Mr. Babbage states that the various parts of which a watch is composed employ a hundred distinct trades, and the skill required in some of these trades is much greater than in others. A watch-case is, comparatively speaking, a simple article to make, whilst on the other hand, some of the parts on which the accuracy of a chronometer depends, must be so delicately adjusted that only very few workmen ever acquire the refined skill which is needed. These work-men therefore possess a virtual monopoly, and can obtain wages far exceeding any which are usually paid. If there were no division of labour in pin-making, each workman who made the pins must possess the skill which is required for each of the operations. He must be able to sharpen the pins, and the labour of a man who can sharpen pins is, as we have seen, worth four shillings per day. Without division of labour the work-man cannot spend his whole time in sharpening the ends of pins; he will have to devote a portion of his time to fastening on the heads of pins, and is then doing work which is only worth fourpence per day, thus incurring the most serious waste. Hence a workman would be compelled to produce what was worth only fourpence per day when his labour might produce what was worth four shillings per day. Mr. Babbage has attempted to form some estimate of the loss which would be thus incurred, for he has calculated "that even supposing a workman could make a pound of pins in the same time in which ten workmen combining their labour can make ten pounds, they would cost in making three times and three-quarters as much as they now do by means of the division of labour." A still greater loss would be incurred if the mechanician upon whose skill the accuracy of a chronometer depends had to waste his time, and perhaps destroy the delicacy of his touch, upon some of the rougher work by which parts of the watch are made. Labour is most efficient in the production of wealth when each individual can be employed upon work which is best suited to the skill and physical strength which he possesses. The perfection of modern manufacturing industry makes such a minute division of labour possible,