Investing · Entrepreneur memoirs

Samuel Smiles:Thrift, Excerpt 221

Samuel Smiles《Thrift》· Thrift · Investing

It is not the want of money that prevents skilled workmen from becoming capitalists, and opening the door for the employment of labouring men who are poorer and less skilled than themselves. The work-people threw away half a million sterling during the Preston strike, after which they went back to work at the old terms. The London building trades threw away over three hundred thousand pounds during their strike; and even had they obtained the terms for which they struck, it would have taken six years to recoup them for their loss. The colliers in the Forest of Dean went back to work at the old terms after eleven weeks' play, at the loss of fifty thousand pounds. The iron-workers of Northumberland and Durham, after spending a third of the year in idleness, and losing two hundred thousand pounds in wages, went back to work at a reduction of ten per cent. The colliers and iron-workers of South Wales, during the recent strike or lock-out, were idle for four months, and, according to Lord Aberdare, lost, in wages alone, not less than three millions sterling!

Source: https://www.gutenberg.org/ebooks/14418
Locator:Excerpt 221 · Verified:2026-10-19 · Verification:Short excerpt

Today's question

Does this passage change one judgment about money or risk today?

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