﻿24 
  Transactions. 
  — 
  Miscellaneous. 
  

  

  It 
  is 
  also 
  commonly 
  supposed 
  tliat 
  a 
  spendthrift 
  who 
  expends 
  his 
  capital 
  

   in 
  one 
  year, 
  does 
  more 
  dii-ect 
  harm 
  to 
  the 
  working 
  classes 
  than 
  a 
  wealthier 
  

   man 
  who 
  expends 
  as 
  large 
  a 
  sum 
  out 
  of 
  his 
  interest 
  ; 
  there 
  is 
  a 
  feeling 
  that 
  

   in 
  the 
  one 
  case 
  capital 
  has 
  been 
  destroyed, 
  and 
  that 
  on 
  capital 
  the 
  well- 
  

   being 
  of 
  the 
  workmen 
  depends, 
  while 
  in 
  the 
  other 
  case 
  the 
  capital 
  which 
  

   produced 
  the 
  interest 
  is 
  still 
  intact. 
  There 
  is, 
  however, 
  no 
  difference, 
  

   except 
  indirectly, 
  in 
  the 
  two 
  cases. 
  Both 
  consume 
  certain 
  wealth, 
  which, 
  

   had 
  they 
  not 
  consumed 
  it, 
  would 
  have 
  gone 
  to 
  the 
  working 
  classes. 
  It 
  

   makes 
  no 
  difference 
  to 
  the 
  latter 
  whether 
  what 
  they 
  want 
  and 
  would 
  have 
  

   had, 
  if 
  it 
  had 
  not 
  been 
  taken 
  by 
  some 
  one 
  else, 
  is 
  taken 
  by 
  A 
  or 
  by 
  B 
  ; 
  nor 
  is 
  

   their 
  future 
  stock 
  of 
  wealth 
  at 
  all 
  influenced, 
  for 
  the 
  men 
  who 
  were 
  employed 
  

   in 
  producing 
  the 
  commodities 
  consumed 
  by 
  prudent 
  B 
  were 
  just 
  as 
  much 
  

   taken 
  away 
  from 
  the 
  production 
  of 
  goods 
  to 
  be 
  used 
  by 
  workmen, 
  as 
  were 
  

   those 
  employed 
  in 
  producing 
  for 
  spendthrift 
  A. 
  

  

  When 
  a 
  spendthrift 
  squanders 
  his 
  wealth 
  he 
  ceases 
  to 
  be 
  a 
  capitalist, 
  

   but 
  the 
  others 
  acquu'e 
  the 
  share 
  which 
  he 
  has 
  lost. 
  The 
  whole 
  class 
  owns 
  

   between 
  them 
  all 
  the 
  wealth 
  produced. 
  If 
  one 
  of 
  their 
  number 
  falls 
  out 
  of 
  

   the 
  ranks 
  it 
  is 
  so 
  much 
  the 
  better 
  for 
  the 
  rest 
  ; 
  on 
  the 
  other 
  hand, 
  a 
  capitalist 
  

   who 
  increases 
  his 
  share 
  by 
  saving 
  and 
  investing 
  a 
  larger 
  proportion 
  of 
  his 
  

   gross 
  share 
  than 
  the 
  average, 
  acquires 
  his 
  right 
  at 
  the 
  expense 
  of 
  the 
  

   others. 
  He 
  benefits 
  the 
  working 
  classes, 
  not 
  only 
  dii-ectly 
  by 
  increasing 
  

   their 
  wages, 
  but 
  also 
  indirectly, 
  by 
  compelling 
  other 
  capitahsts 
  to 
  be 
  more 
  

   frugal 
  so 
  as 
  to 
  maintain 
  then- 
  proportionate 
  share 
  of 
  the 
  future 
  stock 
  ; 
  

   the 
  spendthrift 
  injures 
  the 
  working 
  classes 
  directly 
  by 
  consuming 
  the 
  wealth 
  

   which 
  they 
  have 
  produ.ced, 
  and 
  also 
  indirectly, 
  by 
  making 
  it 
  easier 
  for 
  the 
  

   average 
  man 
  to 
  keep 
  his 
  position 
  as 
  a 
  capitalist, 
  and 
  thus 
  keeping 
  up 
  the 
  

   rate 
  of 
  mterest. 
  

  

  It 
  is 
  the 
  interest 
  of 
  the 
  capitalists 
  to 
  give 
  as 
  little 
  as 
  they 
  can 
  to 
  the 
  

   labourers, 
  and 
  to 
  receive 
  as 
  much 
  from 
  them 
  as 
  possible, 
  consistently 
  with 
  

   their 
  attaining 
  other 
  objects 
  they 
  have 
  in 
  view. 
  As 
  a 
  rule, 
  while 
  they 
  wish 
  

   to 
  live 
  comfortably 
  or 
  luxuriously 
  themselves, 
  they 
  also 
  wish 
  to 
  leave 
  

   to 
  their 
  heirs 
  a 
  right 
  to 
  a 
  share 
  of 
  the 
  common 
  wealth, 
  not 
  less 
  than 
  

   that 
  which 
  they 
  themselves 
  enjoy. 
  If 
  they 
  live 
  too 
  abstemiously, 
  they 
  

   increase 
  the 
  share 
  to 
  which 
  they 
  are 
  entitled, 
  but 
  exercise 
  a 
  self-restraint 
  

   which, 
  under 
  the 
  circumstances, 
  they 
  consider 
  unnecessary 
  ; 
  if 
  they 
  live 
  too 
  

   weU, 
  other 
  more 
  abstemious 
  men 
  will 
  push 
  them 
  from 
  their 
  stools, 
  and 
  

   acquire, 
  to 
  their 
  loss, 
  a 
  right 
  to 
  the 
  wealth 
  produced 
  by 
  the 
  community. 
  In 
  

   order 
  to 
  hold 
  their 
  own 
  they 
  must 
  conform 
  their 
  personal 
  expenditure 
  to 
  

   that 
  of 
  the 
  average 
  of 
  their 
  fellow- 
  capitalists. 
  

  

  Capitalists 
  are 
  not 
  necessarily 
  men 
  of 
  more 
  than 
  common 
  intelligence, 
  

  

  