labour defended against the claims of capital-第8章

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capitalist。　While　he　despoils　both；　so　completely　does　he　exclude
one　from　the　view　of　the　other　that　both　believe　they　are
indebted　him　for　subsistence。　He　is　the　middleman　of　all
labourers；　and　when　we　compare　what　the　skilled　labour　of　England
produces；　with　the　produce　of　the　untutored　labour　of　the　Irish
peasantry；　the　middlemen　of　England　cannot　be　considered　as
inferior　in　their　exactions　to　the　middlemen　of　Ireland。　They
have　been　more　fortunate；　however；　and　while　the　latter　are
stigmatised　as　oppressors；　the　former　are　honoured　as
benefactors。　Not　only　do　they　appropriate　the　produce　of　the
labourer；　but　they　have　succeeded　in　persuading　him　that　they　are
his　benefactors　and　employers。　At　least　such　are　the　doctrines　of
political　economy；　and　capitalist　may　well　be　pleased　with　a
science　which　both　justifies　their　claims　and　holds　them　up　to
our　admiration；　as　the　great　means　of　civilising　and　improving
the　world。
　　　　　To　show　the　labourer　the　effects　which　bestowing　this
abundant　reward　on　the　supposed　productive　powers　of　food；
clothing　and　instruments　have　on　his　poverty　or　wealth；　I　must
observe　that　all　political　economists　agree　in　saying　that　all
savings　in　society　are　usually　made　by　capitalists。　The　labourer
cannot　save；　the　landlord　is　not　disposed　to　save；　whatever　is
saved　is　saved　from　profits　and　becomes　the　property　of　the
capitalists。　Now　let　us　suppose　that　a　capitalist　possesses；　when
profit　is　at　ten　per　cent　per　annum；　100　quarters　of　wheat　and
100　steam　engines；　he　must　at　the　end　of　a　year　be　paid　for
allowing　the　labourer　to　eat　this　wheat　and　use　these　steam
engines　with　110　quarters　of　wheat　and　110　steam　engines；　all　in
the　same　excellent　condition　as　the　100　steam　engines　were　at　the
beginning。　It　being　an　admitted　principle　that；　after　a　portion
of　fixed　capital　is　prepared；　it　must　be　paid　for　at　a　rate
sufficient　to　pay　the　ordinary　rate　of　interest；　and　provide　for
the　repairs　or　the　remaking　of　the　instrument。　Let　us　suppose
that　5　quarters　of　wheat　and　5　steam　engines；　or　the　value　of
this　quantity；　suffices　for　the　owner's　consumption；　and　that　the
other　5　of　his　profit　being　added　to　this　capital　he　has　the　next
year　105　quarters　of　wheat　and　105　steam　engines；　which　he　allows
labourers　to　eat　or　use；　for　these　the　labourer　must　produce　for
him；　the　following　year；　supposing　the　rate　of　profit　to　continue
the　same；　a　sufficient　sum　to　replace　the　whole　of　this　capital；
with　the　interest；　or　115　quarters　4　bushels　of　wheat　and　155　？
steam　engines。　Supposing　that　the　value　of　the　5　quarters　and　of
5　steam　engines　suffices　for　the　consumption　of　the　capitalist；
he　will　have　the　next　year　110　quarters　4　bushels；　and　110　？
steam　engines；　for　the　use　of　which　he　must　be　paid　at　the　same
rate；　or　the　labourer　must　produce　and　give　him；　the　third　year；
121　quarters　and　1/20th　of　a　quarter；　and　121　steam　engines　and
1/20th　of　a　steam　engine。　It　is　of　no　use　calculating　all　these
fractions；　or　carrying　the　series　further；　it　is　enough　to
observe　that　every　atom　of　the　capitalist's　revenue；　which　he
puts　out　to　use；　or；　as　it　is　called；　saves；　which　means　given　or
lent　to　labourers；　goes　on　increasing　at　compound　interest。　Dr
Price　has　calculated　that　the　sum　of　one　penny　put　out　to
compound　interest　at　our　Saviour's　birth；　at　5　per　cent；　would　in
the　year　1791　amount　to　a　sum　greater　than　could　be　contained　in
three　hundred　millions　of　globes　like　this　earth；　all　solid　gold。
　　　　　Perhaps　I　can　make　the　evil　effects　of　capital　more　apparent
by　another　sort　of　example。　The　　real　price　of　a　coat　or　a　pair
of　shoes　or　a　loaf　of　bread；　all　which　nature　demands　from　man　in
order　that　he　may　have　either　of　these　very　useful　articles；　is　a
certain　quantity　of　labour；　how　much　it　is　almost　impossible　to
say；　from　the　manufacture　of　a　coat；　a　pair　of　shoes　or　a　loaf　of
bread　being　completed　by　many　persons。　But　for　the　labourer　to
have　either　of　these　articles　he　must　give　over　and　above　the
quantity　of　labour　nature　demands　from　him；　a　still　large
quantity　to　the　capitalist。　Before　he　can　have　a　coat；　he　must
pay　interest　for　the　farmer's　sheep；　interest　on　the　wool　after
it　has　got　into　the　hands　of　the　wool　merchant；　interest　for　this
same　wool　as　raw　material；　after　it　is　in　the　hands　of　the
manufacturer；　interest　on　all　buildings　and　tools　he　uses；　and
interest　on　all　the　wages　he　pays　his　men。　Moreover；　he　must　pay
interest　or　profit　on　the　tailor's　stock；　both　fixed　and
circulating；　and　this　rate　of　interest　is　increased　in　all　these
instances　by　something　more　being　always　necessary　to　pay　the
rent　of　all　these　different　capitalists。　In　the　same　manner
before　a　labourer　can　have　a　loaf　of　bread　he　must　give　a
quantity　of　labour　more　than　the　loaf　costs；　by　all　that　quantity
which　pays　the　profit　of　the　farmer；　the　corn　dealer；　the　miller
and　the　baker；　with　profit　on　all　the　buildings　they　use；　and　he
must；　moreover；　pay　with　the　produce　of　his　labour　the　rent　of
the　landlord。　How　much　more　labour　a　labourer　must　give　to　have　a
loaf　of　bread　than　that　loaf　costs；　it　is　impossible　for　me　to
say。　I　should　probably　underrate　it　were　I　to　state　it　at　six
times；　or　were　I　to　say　that　the　real　cost　of　that　loaf；　for
which　the　labourer　must　give　sixpence；　is　one　penny。　Of　this；
however；　I　am　quite　certain；　that　the　Corn　Laws；　execrable　as
they　are　in　principle；　and　mischievous　as　they　are　to　the　whole
community；　do　not　impose　anything　like　so　heavy　a　tax　on　the
labourer　as　capital。　Indeed；　however　injurious　they　may　be　to　the
capitalist；　it　may　be　doubted　whether　they　are　so　to　the
labourer。　They　diminish　the　rate　of　profit；　but　they　do　not　in
the　end　lower　the　wages　of　labour。　Whether　there　are　Corn　Laws　or
not；　the　capitalist　must　allow　the　labourer　to　subsist；　and　as
long　as　his　claims　are　granted　and　acted　on　he　will　never　allow
him　to　do　more。　In　other　words；　the　labourer　will　always　have　to
give　much　about　the　same　quantity　of　labour　to　the　capitalist　for
a　loaf；　whether　that　loaf　be　the　produce　of　one　hour's　or　one
day's　labour。　Knowing　the　vast　influence　capitalists　have　in
society；　one　is　not　surprised　at　the　anathemas　which　have　of　late
been　hurled　against　the　Corn　Laws；　nor　at　the　silence　which　has
been　preserved　with　respect　to　their　more　mighty　and；　to　the
labourer；　more　mischievous　exactions。
　　　　　What　the　capitalist　really　puts　out　to　interest；　however；　is
not　gold　or　money；　but　food；　clothing　and　instruments；　and　his
demand　is　always　to　have　more　food；　clothing　and　instruments
produced　than　he　puts　out。　No　productive　power　can　answer　this
demand；　and　both　the　capitalists　and　political　economists　find
fault　with　the　wisdom　of　Nature；　because　she　refuses　to　minister
to　the　avarice　of　the　former；　and　does　not　exactly　square　in　her
proceedings　with　the　wishes　of　the　latter。
　　　　　Of　course　the　ultimate　term　to　which　compound　interest　tends
can　never　be　reached。　Its　progress　is　gradually　but　perpetually
checked；　and　it　is　obliged　to　stop　far　short　of　the　desired　goal。
Accordingly；　in　most　books　on　Political　Economy；　one　or　the　other
of　two　causes　is　assigned　for　the　constant　falling　off　of　profit
in　the　progress　of　society。　The　political　economists　either　say；
with　Adam　Smith；　that　the　accumulation　of　capital　lowers　profits；
or；　with　Mr　Ricardo；　that　profits　are　lowered　by　the　increasing
difficulty　of　procuring　subsistence。　Neither　of　them　has　assigned
it　to　the　right　cause；　the　impossibility　of　the　labourer
answering　the　demands　of　the　capitalist。　A　mere　glance　must
satisfy　every　mind　that　simple　profit　does　not　decrease　but
increase　in　the　progress　of　society　　that　is；　the　same　quantity
of　labour　which　at　any　former　period　produced　100　quarters　of
wheat　and　100　steam　engines　will　now　produce　somewhat　more；　or
the　value　of　somewhat　more；　which　the　same　thing：　or　where　is　the
utility　of　all　our　boasted　improvements？　In　fact；　also；　we　find
that　a　much　greater　number　of　persons　now　live　in　opulence　on
profit　in　this　country　than　formerly。
　　　　　It　is　clear；　however；　that　no　labour；　no　productive　power；
no　ingenuity　and　no　art　can　answer　the　overwhelming　demands　of
compound