﻿14 
  Transactions. 
  — 
  Miscellaneous. 
  

  

  food 
  to 
  maintain 
  both 
  themselves 
  and 
  the 
  other 
  labourers, 
  he 
  is 
  said 
  

   to 
  invest 
  his 
  capital 
  and 
  to 
  live 
  on 
  the 
  interest. 
  The 
  more 
  he 
  gives 
  to 
  

   the 
  labom-ers 
  and 
  the 
  less 
  he 
  uses 
  for 
  himself, 
  the 
  more 
  he 
  is 
  said 
  to 
  

   save. 
  Of 
  course 
  there 
  can 
  be 
  no 
  limit 
  to 
  the 
  saving 
  of 
  this 
  kind 
  which 
  

   it 
  is 
  desirable 
  that 
  he 
  shaU 
  make, 
  short 
  of 
  his 
  not 
  keeping 
  enough 
  to 
  

   maintain 
  himself 
  in 
  average 
  comfort. 
  All 
  that 
  he 
  saves 
  is 
  consumed 
  by 
  

   the 
  workmen, 
  so 
  that 
  the 
  community 
  as 
  a 
  whole 
  stores 
  up 
  nothing. 
  

   Both 
  capitahsi 
  and 
  workmen 
  cannot 
  save 
  at 
  the 
  same 
  time, 
  except, 
  as 
  

   before 
  said, 
  by 
  making 
  new 
  implements. 
  If 
  they 
  both 
  persist 
  in 
  refusing 
  

   to 
  consume 
  the 
  wealth 
  produced, 
  theu' 
  barns 
  would 
  be 
  fiUed 
  with 
  grain 
  

   for 
  the 
  benefit 
  of 
  the 
  rats, 
  and 
  theix 
  warehouses 
  with 
  cloth 
  and 
  kon 
  

   for 
  the 
  moth 
  and 
  rust 
  to 
  corrupt 
  ; 
  but 
  they 
  could 
  not 
  go 
  on 
  for 
  ever 
  

   in 
  that 
  way, 
  and 
  would 
  have 
  eventuaUy 
  to 
  cease 
  work. 
  Any 
  indivi- 
  

   dual 
  workman 
  may 
  save, 
  that 
  is, 
  he 
  may 
  refrain 
  from 
  consuming 
  his 
  share 
  

   and 
  invest 
  it, 
  by 
  giving 
  it 
  to 
  his 
  fellow-workmen 
  who 
  would 
  consume 
  it 
  ; 
  

   but 
  the 
  whole 
  body 
  of 
  workmen 
  can 
  only 
  become 
  capitalists 
  by 
  making 
  new 
  

   implements, 
  unless 
  other 
  capitahsts 
  live 
  beyond 
  their 
  incomes. 
  

  

  It 
  must 
  not 
  be 
  forgotten 
  that 
  implements 
  are 
  made 
  for 
  the 
  purpose 
  of 
  

   being 
  at 
  once 
  useful 
  and 
  not 
  for 
  the 
  sake 
  of 
  storing 
  wealth. 
  If 
  one 
  genera- 
  

   tion 
  gets 
  any 
  advantage 
  from 
  the 
  labour 
  of 
  its 
  predecessor, 
  it 
  is 
  due 
  to 
  the 
  

   accident 
  that 
  most 
  implements, 
  and 
  some 
  articles 
  of 
  dhect 
  wealth, 
  are 
  made 
  

   of 
  durable 
  materials, 
  and 
  not 
  to 
  any 
  saving 
  made 
  intentionally 
  with 
  the 
  view 
  

   of 
  benefiting 
  posterity. 
  One 
  generation, 
  however, 
  owes 
  very 
  little 
  to 
  its 
  

   foregoers 
  of 
  the 
  material 
  wealth 
  it 
  enjoys. 
  The 
  greater 
  part 
  of 
  the 
  wealth 
  

   of 
  the 
  community 
  was 
  made 
  within 
  the 
  last 
  year, 
  and 
  very 
  little 
  is 
  ten 
  

   years 
  old. 
  The 
  accumulations 
  we 
  have 
  received 
  from 
  our 
  fathers, 
  and 
  

   owe 
  to 
  our 
  sons, 
  are 
  knowledge 
  of 
  the 
  laws 
  of 
  nature, 
  good 
  laws, 
  and 
  habits 
  

   of 
  labour. 
  If 
  these 
  are 
  increased, 
  the 
  means 
  of 
  producing 
  material 
  wealth 
  

   are 
  also 
  increased; 
  with 
  the 
  same 
  labour 
  our 
  sons 
  will 
  be 
  able 
  to 
  live 
  better 
  

   than 
  we, 
  unless 
  their 
  numbers 
  increase 
  so 
  much 
  that 
  they 
  cannot 
  produce 
  

   sufficient 
  food 
  without 
  increasing 
  the 
  proportion 
  of 
  those 
  employed 
  in 
  

   producing 
  it 
  as 
  compared 
  with 
  the 
  whole 
  community. 
  

  

  Capital. 
  

   This 
  word 
  has 
  not 
  been 
  as 
  closely 
  defined 
  as 
  its 
  importance 
  requires, 
  

   nor 
  is 
  it 
  uniformly 
  used 
  in 
  its 
  defined 
  meaning. 
  Mill 
  says 
  it 
  is 
  "a 
  requisite 
  

   without 
  which 
  no 
  productive 
  operations 
  beyond 
  the 
  rude 
  and 
  scanty 
  

   beginnings 
  of 
  ^Drimitive 
  industry 
  are 
  possible." 
  His 
  first 
  definition 
  already 
  

   quoted, 
  makes 
  it 
  equivalent 
  to 
  all 
  exchangeable 
  wealth, 
  except 
  land 
  and 
  its 
  

   spontaneous 
  productions. 
  With 
  this 
  meaning 
  it 
  is 
  clearly 
  an 
  unnecessary 
  

   word. 
  Land 
  is 
  simply 
  an 
  implement, 
  and 
  does 
  not 
  require 
  to 
  be 
  classed 
  

  

  