BY R. M. JOHNSTON, T.L.S. 



179 



c. Indirect Fruits of The possession of lands, mines. 



Labour and Skill costly macliines, railways, 



(Anterior Labour of canals, ships, buildings, instru- 



Bastiat). ments of all kinds that have or 



may be lought or sold by the 



accumulated previous or current 



savings of skill, industry, or 



common physical labour. 



If capital, as a term, be confined to h and c, there could be 



no objection if it were not assumed afterwards that these 



alone formed the whole of the forces necessary to produce 



fresh wants in exchange in sufficiency for all. Similarly, 



there would be no objection to confine the term capital to 



labour, if it were not ignored in after applications that th.e 



important portions, viz., Indirect Fruits of Previous Labour 



and Skill or Anterior Labour (& c) are also necessary for the 



effectual production of the wants of all, and that those gained 



by right of previous savings are not generally distributed 



possessions. 



We come now to the second great category : — 



(B.) Modes op Appropriation of Wants in ExcHANas 

 Created or Produced, or About to be Created or 

 Produced. 



Mode. 

 a. (By Wages or Salary.) 



J. (By Commission, In- 

 terest Bent, or Income.) 



Labourers or poor capitalists share 

 in respect of personal services 

 mainly. 

 Employers or possessors of a 

 more than ordinary share of the 

 equivalents of previously stored 

 labour and skill — rich capi- 

 talists — obtained mainly from 

 the possession of a larger 

 share than ordinary of the 

 actual fruits, or the equivalents 

 of previouslv stored labour and 

 skill. 

 From this analysis, which is sufficiently comprehensive, it 

 would appear that labourers are simply poor capitalists, and 

 employers and wealthy people are rich capitalists ; that both 

 forms of capital are necessary to the production of fresh wants 

 for all, and that both — whether as wages or salary, or whether 

 as commission, interest, rent or income — derive their share of 

 these wants by the aid of the combined action of the two 

 groups. In this sense it is no more true or false that wages 

 are derived from capital, than that commission, interest, rent, 

 or income is derived from capital. If this view of the case be 



