﻿18 
  Transactions. 
  — 
  Miscellaneous. 
  

  

  capital 
  could 
  not 
  increase." 
  The 
  community 
  as 
  a 
  whole 
  does, 
  however, 
  

   practically 
  consume 
  all 
  that 
  it 
  produces. 
  If 
  population 
  is 
  stationary, 
  

   nothing 
  more 
  is 
  required 
  to 
  increase 
  the 
  average 
  wealth 
  than 
  to 
  rejplace 
  all 
  

   worn-out 
  implements 
  with 
  new 
  ones 
  of 
  a 
  more 
  scientific 
  kind. 
  If 
  population 
  

   is 
  increasing, 
  the 
  number 
  of 
  implements 
  must 
  be 
  increased 
  as 
  well 
  as 
  their 
  

   quality 
  improved, 
  in 
  order 
  that 
  the 
  larger 
  population 
  may 
  labour 
  more 
  

   advantageously 
  than 
  the 
  smaller 
  had 
  done. 
  This 
  would 
  not 
  in 
  the 
  ordinary 
  

   meaning 
  of 
  the 
  word 
  be 
  called 
  saving 
  ; 
  if 
  the 
  community 
  increases, 
  it 
  is 
  

   part 
  of 
  its 
  current 
  expenditure 
  to 
  provide 
  the 
  new 
  members 
  with 
  facilities 
  

   of 
  producing 
  wealth 
  for 
  their 
  own 
  support. 
  

  

  The 
  meaning 
  of 
  " 
  capital" 
  in 
  this 
  case 
  appears 
  to 
  be 
  the 
  wealth 
  which 
  

   the 
  capitalists 
  give 
  to 
  the 
  labouring 
  classes 
  in 
  exchange 
  for 
  their 
  labour 
  ; 
  

   and 
  the 
  theorem 
  is 
  little 
  more 
  than 
  an 
  identical 
  proposition. 
  

  

  The 
  third 
  theorem 
  is, 
  that 
  "Capital, 
  although 
  saved 
  and 
  the 
  result 
  of 
  

   saving, 
  is 
  nevertheless 
  consumed." 
  This 
  follows 
  from 
  what 
  has 
  been 
  

   already 
  said 
  ; 
  everything 
  which 
  is 
  saved 
  by 
  the 
  capitahst 
  is 
  consumed 
  by 
  

   the 
  labourers, 
  except 
  new 
  implements, 
  the 
  production 
  of 
  which 
  may 
  be 
  

   called 
  saving 
  by 
  the 
  whole 
  community, 
  as 
  it 
  implies 
  a 
  sacrifice 
  of 
  present 
  

   for 
  future 
  advantage. 
  All 
  that 
  Mill 
  deduces 
  from 
  it 
  does 
  not, 
  however, 
  

   follow. 
  He 
  says 
  : 
  " 
  Saving, 
  in 
  short, 
  enriches, 
  and 
  spending 
  impoverishes, 
  

   the 
  community 
  along 
  with 
  the 
  individual 
  ; 
  which 
  is 
  but 
  saving, 
  in 
  other 
  

   words, 
  that 
  society 
  at 
  large 
  is 
  richer 
  by 
  what 
  it 
  expends 
  in 
  maintain- 
  

   ing 
  and 
  aiding 
  productive 
  labour, 
  but 
  poorer 
  by 
  what 
  it 
  expends 
  on 
  its 
  

   enjoyments." 
  Sa\dng 
  by 
  the 
  capitalist, 
  as 
  has 
  been 
  so 
  often 
  said 
  above, 
  

   enriches 
  the 
  workman, 
  but 
  saving 
  by 
  the 
  community 
  would 
  enrich 
  no 
  one. 
  

   The 
  object 
  of 
  labour 
  is 
  the 
  bettering 
  the 
  conditions 
  of 
  life, 
  and 
  the 
  com- 
  

   munity, 
  therefore, 
  is 
  the 
  richer 
  by 
  what 
  it 
  expends 
  on 
  its 
  enjoyments, 
  and 
  

   not 
  the 
  poorer 
  ; 
  it 
  is 
  the 
  richer 
  by 
  what 
  the 
  capitalist 
  saves, 
  simply 
  because 
  

   this 
  kind 
  of 
  saving 
  is 
  only 
  another 
  name 
  for 
  more 
  equal 
  distribution. 
  

  

  The 
  community 
  does 
  not 
  require 
  to 
  save 
  ; 
  it 
  requires 
  only 
  that 
  its 
  labour 
  

   shall 
  be 
  wisely 
  dhected, 
  so 
  that 
  the 
  produce 
  shall 
  give 
  the 
  greatest 
  possible 
  

   comfort 
  and 
  enjoyment. 
  If 
  the 
  necessaries 
  of 
  hfe 
  are 
  not 
  produced 
  in 
  

   sufficient 
  quantity 
  it 
  will 
  suffer 
  privation, 
  although 
  every 
  man 
  had 
  been 
  

   engaged 
  in 
  what 
  is 
  generally 
  called 
  productive 
  labour 
  ; 
  no 
  amount 
  of 
  cloth 
  

   or 
  iron 
  would 
  make 
  good 
  the 
  want 
  of 
  food. 
  The 
  necessaries 
  having 
  been 
  

   first 
  pro\dded 
  for, 
  the 
  common 
  labour 
  should 
  be 
  devoted 
  to 
  producing 
  those 
  

   luxuries 
  which 
  all 
  can 
  share. 
  This 
  is 
  the 
  "productive 
  labour" 
  which 
  it 
  

   is 
  the 
  interest 
  of 
  society 
  to 
  " 
  maintain 
  and 
  aid." 
  An 
  actor 
  or 
  pubhc 
  

   singer 
  may 
  more 
  properly 
  be 
  called 
  a 
  productive 
  labourer 
  than 
  a 
  velvet- 
  

   maker 
  or 
  diamond- 
  digger, 
  because 
  the 
  enjoyment 
  which 
  his 
  labour 
  pro- 
  

  

  