﻿Caeeu*hees. 
  — 
  On 
  some 
  of 
  the 
  Terms 
  used 
  in 
  Political 
  Economy. 
  27 
  

  

  and 
  otliers, 
  the 
  speudtlirifts 
  and 
  prodigals, 
  are 
  dropping 
  out 
  of 
  the 
  list 
  

   of 
  capitalists, 
  the 
  average 
  rate 
  of 
  interest 
  tends, 
  even 
  when 
  the 
  population 
  

   is 
  stationary, 
  to 
  become 
  lower, 
  to 
  approximate 
  more 
  closely 
  to 
  what 
  will 
  

   satisfy 
  the 
  more 
  frugal 
  part 
  of 
  the 
  class. 
  

  

  As 
  population 
  increases, 
  and 
  it 
  becomes 
  necessary 
  to 
  cultivate 
  inferior 
  

   land 
  in 
  order 
  to 
  produce 
  a 
  sufficiency 
  of 
  food, 
  the 
  average 
  effectiveness 
  of 
  

   labour 
  tends 
  to 
  decrease, 
  and 
  the 
  rents 
  of 
  the 
  landlords 
  to 
  increase, 
  the 
  

   labourers 
  can 
  then, 
  besides 
  making 
  new 
  implements, 
  produce 
  little 
  more 
  than 
  

   is 
  sufficient 
  to 
  maintain 
  themselves 
  and 
  to 
  pay 
  the 
  landlords. 
  The 
  tempta- 
  

   tion 
  to 
  expend 
  wealth 
  instead 
  of 
  to 
  invest 
  it 
  becomes 
  greater, 
  and 
  in 
  the 
  

   struggle 
  for 
  a 
  position 
  the 
  smaller 
  capitalists 
  are 
  gradually 
  pushed 
  out 
  of 
  

   the 
  ranks 
  by 
  the 
  larger, 
  who 
  can, 
  with 
  less 
  sacrifice, 
  afford 
  to 
  invest 
  a 
  

   larger 
  proportion 
  of 
  their 
  capital. 
  

  

  There 
  is 
  thus 
  a 
  tendency 
  of 
  wealth 
  to 
  fall 
  into 
  the 
  hands 
  of 
  a 
  few, 
  and 
  

   the 
  extremes 
  both 
  of 
  riches 
  and 
  poverty 
  are 
  generally 
  found 
  in 
  the 
  same 
  

   community. 
  

  

  In 
  an 
  extreme 
  case, 
  the 
  number 
  of 
  capitalists 
  may 
  become 
  so 
  small 
  that 
  

   a 
  practical 
  combination 
  may 
  occur 
  amongst 
  them 
  to 
  reduce 
  the 
  wages 
  fund; 
  

   and 
  something 
  like 
  this 
  appears 
  to 
  have 
  taken 
  place 
  in 
  the 
  later 
  years 
  of 
  

   Kome. 
  

  

  Those 
  who 
  share 
  the 
  interest 
  fund 
  are 
  the 
  owners 
  of 
  money 
  and 
  land, 
  

   the 
  fund-holders, 
  and 
  those 
  whose 
  wealth, 
  invested 
  either 
  in 
  implements 
  or 
  

   wages, 
  had 
  been 
  instrumental 
  in 
  its 
  production. 
  

  

  The 
  owners 
  of 
  that 
  large 
  stock 
  of 
  wealth 
  which 
  is 
  in 
  the 
  hands 
  of 
  the 
  

   consumer, 
  dwelling 
  houses, 
  furniture, 
  clothes, 
  etc., 
  do 
  not 
  share 
  in 
  it, 
  nor 
  

   do 
  the 
  owners 
  of 
  goods 
  manufactured 
  for 
  the 
  use 
  of 
  capitalists. 
  The 
  velvet 
  

   manufacturer, 
  for 
  instance, 
  gets 
  no 
  interest 
  on 
  his 
  velvet 
  ; 
  it 
  is 
  the 
  product 
  

   of 
  " 
  expended 
  " 
  wealth. 
  As 
  a 
  rule, 
  he 
  would 
  not 
  himself 
  be 
  the 
  consumer 
  

   of 
  his 
  own 
  manufactures 
  ; 
  he 
  has 
  only 
  manufactured 
  them 
  so 
  as 
  to 
  

   procure 
  other 
  goods 
  which 
  he 
  requires 
  ; 
  the 
  velvet 
  was 
  made 
  because 
  other 
  

   capitalists 
  had 
  so 
  willed 
  it, 
  he 
  knowing 
  from 
  former 
  experience 
  that 
  they 
  

   had 
  done 
  so, 
  and 
  that, 
  in 
  the 
  same 
  way, 
  whatever 
  he 
  willed 
  to 
  be 
  produced 
  

   would 
  be 
  duly 
  provided. 
  If 
  he 
  intended 
  to 
  invest 
  his 
  wealth, 
  others 
  would 
  

   provide 
  the 
  commodities 
  which 
  he 
  requires 
  to 
  give 
  to 
  his 
  workmen, 
  and 
  

   he 
  will 
  be 
  able 
  to 
  get 
  these 
  in 
  exchange 
  for 
  his 
  velvet. 
  He 
  has, 
  it 
  is 
  

   true, 
  " 
  expended 
  " 
  his 
  wealth 
  in 
  making 
  a 
  commodity 
  for 
  the 
  use 
  of 
  

   capitalists, 
  but 
  by 
  so 
  doing 
  has 
  induced 
  those 
  capitalists 
  to 
  " 
  invest 
  " 
  theirs 
  

   in 
  making 
  goods 
  for 
  the 
  future 
  use 
  of 
  his 
  labourers 
  ; 
  by 
  exchange 
  each 
  gets 
  

   exactly 
  what 
  he 
  wants, 
  more 
  conveniently 
  than 
  he 
  could 
  otherwise 
  have 
  

   done. 
  If 
  there 
  had 
  not 
  been 
  a 
  prospect 
  amounting 
  to 
  a 
  certainty 
  that 
  this 
  

  

  