entry of Faraday into the Royal Institution was not the least
significant for humanity.

On the morning of Christmas day, 1821, Faraday called his wife
into his laboratory to witness, for the first time in the
history of man, the revolution of a magnet around an electric
current. The foundations of electromagnetics were laid and the
edifice was built by Faraday upon this foundation in the
fourteen succeeding years. In those years and from those
labors, the electro-motor, the motor generator, the electrical
utilization of water power, the electric car, electric
lighting, the telephone and telegraph, in short all that is
comprised in modern electrical machinery came actually or
potentially into being. The little rotating magnet which
Faraday showed his wife was, in fact, the first electric motor.

What was the cash value to humanity of those fourteen years of
labor in a laboratory?

According to the thirteenth census of the United States, the
value of the electrical machinery, apparatus and supplies
produced in this country alone, in 1909 was $221,000,000. In
1907, the value of the electric light and power stations in the
United States was $1,097,000,000, of the telephones
$820,000,000, and the combined income from these two sources
was $360,000,000. Nor does this represent a tithe of the
values, as yet barely realized, which these researches placed
at our disposal. Thus in its waterfalls, the United States is
estimated to possess 150,000,000 available horse-power, which
can only be realized through the employment of Faraday's