political economy-第20节
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does not stop till his ten thousand pounds are done； and he no longer has new sums to employ in the operation。 If it be then asked why he stops； he will answer； like the workman； that money is wanting； that money does not circulate。 It is not； however； money which is then wanting any more than in the former case； it is consumption； or the consumer's revenue。 On commencing his manufacture； the capitalist studied to adjust it to the demand； and he reckoned that as soon as his cloths should be ready； they would be purchased by consumers； whose money； the sign of their revenue； would replace his capital； and become the sign of subsistence to new workmen； to whom he would pay new wages。 It is not money which the consumer is in want of； but revenue。 Some have had inferior harvests this year； some have gained a smaller interest on their capitals； a smaller share on the annual re…production of the fruits of industry； others； who have no income but what arises from their labour； have not found employment； or else the whole three classes are not poorer than they were； but the manufacturer had imagined them to be richer； and regulated his production according to an income which does not exist。 Income； of which we have seen all the different sources in the second chapter； is a material and consumable thing； it springs from labour； it is destined for enjoyment； it is exactly of the same nature with the advances in wages and raw material laid out by the manufacturer； and money is but the sign and the measure of it。 The capital it should replace is also composed of material objects； destined for consumption； and incessantly renewed。 Money serves but to represent it； and always forms the smallest part of each merchant's funds。 We have supposed the cloth…maker to possess 100；000 l。； but； it half this sum is employed in fixed capitals； it will be sufficient； if his sale amount weekly to 1200 l。 to give him； in the shape of interest and profit； 20 per cent。 on his circulating capital； and to allow 1000 l weekly； in money； to maintain an annual production of 60；000 l。； so that he never possesses in cash more than the fiftieth part of his circulating capital。 An increase of the national capitals is the most powerful encouragement of labour； either because this augmentation presupposes an augmentation of income； and； consequently； of means of consumption； or because these capitals； not being profitable to their proprietor； except as they are employed； each capitalist incessantly endeavours to create new production by their means。 In distributing them to his workmen； he gives to those workmen revenue which enables them to purchase and consume the preceding year's production； and he sees those capitals return increased by the revenue； which he is to expect from them in the following year's production。 But though he distributes and afterwards recovers them； by means of the circulating medium； which serves for all exchanges； it is not the circulating medium which forms the essential requisite in his operation。 The same cloth…maker； labouring each year on an equal quantity； sends 2400 pieces of cloth to the market； which have been valued at 60；000 l。 or 25 l。 a piece。 He exchanges 400 pieces for such objects of consumption as are needed to supply the wants； the enjoyments； the luxuries of himself and family。 He exchanges 2000 pieces for the raw materials； and the labour which； within the year； are to re…produce an equal quantity； and thus next year； and every following year； he will have； as before； 2400 pieces to exchange on the same conditions。 His capital； equally with his revenue； is actually in cloths； not in money； and the perpetual result of his commerce is to exchange cloth against cloth。 If the consumption of cloth is increased； if by this means his trade； in place of comprehending 2400 pieces annually； comprehends 3000； more labour will； no doubt； be ordered by him； and executed by his workmen； but if the money alone is increased； and not the consumption or the income which determines it； labour and production cannot increase。 Let us take separately each one of his customers； as he calls them。 There is not one of them who does nor levy a greater or a smaller portion of his income in kind； but all may arrange matters so as to receive the whole of it in money。 They are not； however； more rich on this account； they will not be at more expense； they will not buy more cloth from him； and this trade will experience no kind of augmentation。 What happens to individuals may equally happen to nations。 The revenue of a country or the sum total of profits arising from the different kinds of labour； amounted； we shall say； last year； and this year； to fifty millions； but last year the country levied all its profit in goods； in merchandise destined for its consumption； this year； from some mercantile circumstance； some arrangement of exchanges； it has levied the fourth； the third part； in money imported through the frontiers。 It is neither richer nor poorer； for this alteration； its consumption will； as formerly； be fifty millions； and with regard to the money imported； apparently its industry required this money； otherwise it will be again exported。 To increase the circulating medium of a country； without increasing its capital； without increasing its revenue； without increasing its consumption is to do nothing for its prosperity； nothing for the encouragement of labour。 Since no labour can be accomplished without a capital to set it in motion； since no re…production of wealth can take place without raw materials for the work； and subsistence for the workmen； it follows that the furnisher of those wages and materials has taken the most intimate share in the re…production； he is； in a great degree； the author of its profits； and has the most evident right to participate in them。 But he who lends a capital lends nothing else but those wages and raw materials represented by money。 He lends a thing eminently productive； or rather the only one which is productive； for since all wealth proceeds from labour； and all labour is put in motion by its wage； he lends labour itself； or the first cause of production in all kinds of wealth。 Hence； whenever an odious sense has been attached to the word usury； meaning by it any kind of interest paid for the use of a sum of money； under pretext that as money produced no fruit； there could be no lawful share of profit where there was no profit； in this case； an absurd distinction has been formed。 There was just as much reason to prohibit the renting of land； or the wages of labour； because without a capital to put land and labour in exercise； both would remain unfruitful。 Theologians； however； were right in saying that gold and silver were barren by nature： they are barren so long as kept in their own shape； they cease to be barren； the instant they become the sign of another kind of wealth； which is emphatically productive。 Theologians； if they determined to abide by the single principle on which their prohibition was founded； should have been contented with declaring usury criminal； every time the lender obliged the borrower to keep the deposit in its primary form； locked up in a strong box； from the moment of borrowing to that of payment。 For it is quite certain that money； whilst locked up； produces no fruit； and neither borrower； nor lender can get good of it except by parting with it。 But； if money is of itself barren； it produces no fruit but in so far as it is the sign of other values； then it is evident that no good can be done by multiplying the sign and not the thing。 It is true； if you multiply the sign in a single country； you give this country the means of commanding the thing； provided that thing be found in any； country。 but when you multiply the sign in all countries at once； you do nothing for any。 At present； there exists such a proportion between the sign and the thing； that a pound sterling is worth a bag of corn； but if； by the stroke of a magic rod； you should instantly double all the money in the world； since every thing to be obtained in exchange would continue the same； two pounds in place of one would be required to represent a bag of corn。 The quantity of corn consumed by a workman； in food； would not be altered； consequently his wage must be doubled。 With twice as many guineas； exactly the same work would be done； and nothing would be changed but names and numbers。 Capitalists require their capital to be employed； that it may gain a revenue； and hence they offer it for a certain price； to such as wish to cause labour； workmen； on the other hand； and those who employ workmen； have need of capital for their labour； and； after reckoning up the profit expected from it； they offer a certain share of their advantage to capitalists。 The necessities of money…lenders and of money…borrowers； come thus to a state of equilibrium in all markets； those classes of men agree upon a medium rate。 The regulator of their bargain is always the quantity of labour required by consumers； compared with the quantity of capital； representing raw materials and wages； to be disposed of in executing this labour。 If the want is great； and the means of labour small； the interest of money will be considerable；
