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 It is also a very satisfactory feature of the case that the amount so distributed has been universally well spent; by some, in the purchase of shares in the company; by others, in paying an instalment towards the purchase of a plot of freehold land, whereon to build a cottage; while the purchase articles of furniture, for domestic comforts, were very numerous. In considering the applicability of the principle of industrial co-operation adopted by Messrs. Briggs to other undertakings, it is desirable to bear in mind that upwards of 60 per cent. of the cost of raising coal consists in wages paid for maunal labour, chiefly performed under ground, and a further 12 or 15 per cent, in materials, any unnecessary waste of which can be prevented by care on the part of the miners. From this circumstance arises the greater applicability of the principle to mining enterprise than to any undertaking, the prosperity of which largely depends upon the commercial shrewdness of any one or two individuals. The success of Messrs. Briggs's experiment in greatly improving the relations between themselves and their workmen, has been most striking. As has been before remarked, the year gone by has been free from any trade dispute, a larger quantity of coal has been worked, and a larger profit has been realised by the partners than during any previous year, whilst higher wages have been paid to the workmen. It may, therefore, reasonably be hoped that the bond of union between employers and employed will be so strengthened that it will bear the strain of the adverse times which, sooner or later, must be felt by every member of our commercial community. That proved, there remains but little doubt, but that the principle of industrial co-operation is destined to spread wherever, over the civilised world, man has to earn his living by the sweat of his brow.

P.S.—April 12th, 1867.—Since the above was written, there has been a large increase in the business of the company; the weekly sales having risen from about 6000 to near 8000 tons, and the weekly wages paid to about 1300l.; or, at the rate of 67,000l. per annum.

The interest shown by the workmen in the system of operation between themselves and their employers, and their appreciation of the advantages offered them, are constantly increasing.