WORKMEN'S CAPITAL 29 



slave-owner had their health, strength, and skill 

 as a part of his own capital. A free man is not 

 owned ; he has his own capital ; that capital is 

 not part of the capital of any other owner, but 

 it is a most important part of the capital of 

 the country in which the free man works. 



This capital of the artisan is a type, therefore, 

 of the class of capital which is called labour- 

 capital. And it is perceived to consist chiefly of 

 labour-capital, the property of the artisan and 

 of the nation, and possibly of invested capital, 

 which in this case is generally also the property 

 of the artisan and a part of the national capital. 



It should be added that artisans subscribe from 

 their savings to unions and friendly societies, 

 and sometimes to co-operative stores. The funds 

 of these institutions may be partly invested in 

 such a way as not to form a part of the national 

 capital. 



We come next to the employer of labour. He 

 may be a farmer, a manufacturer, a shipbuilder, 

 a mine- or railway-owner, a shopkeeper, a builder, 

 — any one who so organises labour and materials 

 as to produce articles, move articles from one 

 place to another, or distribute articles, necessary 

 for use at home or abroad. The producer of 

 articles, or the mover or distributor of articles, 

 has first of all, as capital, his trained power of 

 organisation. He has also something to sell. 

 This may be a stack of corn, a cargo of piece 

 goods, a package of cutlery, a power of haulage, 

 or groceries, or ironmongery for retail. All these 

 are capital, part of the capital of the employer 



