political economy-第18部分
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the other; a subsistence for the artisan。 Labour cannot be carried on so as to produce any material fruit; any fruit capable of becoming wealth; without raw materials on which to operate; the workman cannot labour without food to support him; and; therefore; every kind of labour is impossible without a capital previously existing in objects of consumption; to furnish his materials and his wages; and; if the workman himself lay out these advances; it is because he combines for this little object; the two characters of capitalist and artisan。 As the workman requires a capitalist; so the capitalist requires workmen; because his capital will be unproductive if it continue idle; and the revenue which he expects and has to live upon springs from the labour which he causes to be executed。 Hence; whenever he is occupied in a productive enterprise; he employs all his capital in causing labour; and leaves no part of it in idleness。 If he is a cloth…maker; and has devoted ten thousand pounds to his manufacture; he 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;