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This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1881. Excerpt: ... CHAPTER III. CAPITAL. CAPiTAListheproduceofpastlabourdevoted to present production. "The wealth which has beenaccumu- lated with the object of assisting production, is termed capital; and therefore the capital of the country is the wealth which is not immediately consumed unproductively, and which may consequently be devoted to assist the further production." Capital is in fact the saving of past labour, for the special purpose of increasing the future store. Undoubtedly capital originally may have been acquired by saving or by inheritance, though that is only pushing the accumulation a step further back; and the grain pitsof Northern India, the yam barrows and tabu cocoa-nut groves of Polynesia, the stores of the Mexican aborigines, represent early and useful forms of capital. "Nothing," «ays Mr. Fawcctt, " more distinctly marks the superiority of man over the brute creation than the prudent foresight which causes an adequate provision to be made for the future. The more civilized men are, the more is this foresight shown. Civilized men anticipate with keen perception the wants of the future. To provide against the contingencies of the F future, engrosses perhaps the too anxious care of the nation." In these sentences Mr. Fawcett expresses far too favourable a view of the foresight of the present generation of civilized men. Never perhaps since civilization was first seen on the planet, have so many human beings been passing through life at the same time on insufficient food, as at the present moment. Nothing, indeed, is more striking than the want of foresight displayed under our present capitalist system of production. Whichever quarter of the globe we look to, we see the future entirely disregarded. We in England, for example, a vast industrial c...

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