Thevalueofthenewproductfurtherincludes:theequivalentofthevalueofthelabour—powertogetherwithasurplus—value。Thisissobecausethevalueofthelabour—power？soldforadefinitelengthoftime，sayaday，aweek，etc。？islessthanthevaluecreatedbyitsuseduringthattime。Buttheworkerhasreceivedpaymentfortheexchange—valueofhislabour—powerandbysodoinghasalienateditsuse—value？thisbeingthecaseineverysaleandpurchase。
Thefactthatthisparticularcommodity，labour—power，possessesthepeculiaruse—valueofsupplyinglabour，andthereforeofcreatingvalue，cannotaffectthegenerallawofcommodityproduction。If，therefore，themagnitudeofvalueadvancedinwagesisnotmerelyfoundagainintheproduct，butisfoundthereaugmentedbyasurplus—value，thisisnotbecausethesellerhasbeendefrauded，forhehasreallyreceivedthevalueofhiscommodity;itisduesolelytothefactthatthiscommodityhasbeenusedupbythebuyer。
Thelawofexchangerequiresequalityonlybetweentheexchange—valuesofthecommoditiesgiveninexchangeforoneanother。Fromtheveryoutsetitpre—supposesevenadifferencebetweentheiruse—valuesandithasnothingwhatevertodowiththeirconsumption，whichonlybeginsafterthedealisclosedandexecuted。
Thustheoriginalconversionofmoneyintocapitalisachievedinthemostexactaccordancewiththeeconomiclawsofcommodityproductionandwiththerightofpropertyderivedfromthem。Nevertheless，itsresultis:
（1）thattheproductbelongstothecapitalistandnottotheworker;
（2）thatthevalueofthisproductincludes，besidesthevalueofthecapitaladvanced，asurplus—valuewhichcoststheworkerlabourbutthecapitalistnothing，andwhichnonethelessbecomesthelegitimatepropertyofthecapitalist;
（3）thattheworkerhasretainedhislabour—powerandcansellitanewifhecanfindabuyer。
Simplereproductionisonlytheperiodicalrepetitionofthisfirstoperation;eachtimemoneyisconvertedafreshintocapital。Thusthelawisnotbroken;onthecontrary，itismerelyenabledtooperatecontinuously。
"Severalsuccessiveactsofexchangehaveonlymadethelastrepresentthefirst"（Sismondi，"NouveauxPrincipes，etc。，"p。70）。
Andyetwehaveseenthatsimplereproductionsufficestostampthisfirstoperation，insofarasitisconceivedasanisolatedprocess，withatotallychangedcharacter。"Ofthosewhosharethenationalincomeamongthemselves，theoneside（theworkers）acquireeveryyearafreshrighttotheirsharebyfreshwork;theothers（thecapitalists）havealreadyacquired，byworkdoneoriginally，apermanentrighttotheirshare"（Sismondi，l。c。，pp。110，111）。Itisindeednotoriousthatthesphereoflabourisnottheonlyoneinwhichprimogenitureworksmiracles。
Nordoesitmatterifsimplereproductionisreplacedbyreproductiononanextendedscale，byaccumulation。Intheformercasethecapitalistsquandersthewholesurplus—valueindissipation，inthelatterhedemonstrateshisbourgeoisvirtuebyconsumingonlyaportionofitandconvertingtherestintomoney。
Thesurplus—valueishisproperty;it，hasneverbelongedtoanyoneelse。Ifheadvancesitforthepurposesofproduction，theadvancesmadecomefromhisownfunds，exactlyasonthedaywhenhefirstenteredthemarket。Thefactthatonthisoccasionthefundsarederivedfromtheunpaidlabourofhisworkersmakesabsolutelynodifference。IfworkerBispaidoutofthesurplus—valuewhichworkerAproduced，then，inthefirstplace，Afurnishedthatsurplus—valuewithouthavingthejustpriceofhiscommoditycutbyahalf—penny，and，inthesecondplace，thetransactionisnoconcernofB’swhatever。WhatBclaims，andhasarighttoclaim，isthatthecapitalistshouldpayhimthevalueofhislabour—power。"Bothwerestillgainers:
theworkerbecausehewasadvancedthefruitsofhislabour"（shouldread:
oftheunpaidlabourofotherworkers）"beforetheworkwasdone"（shouldread:beforehisownlabourhadbornefruit）;"theemployer（lemaître），becausethelabourofthisworkerwasworthmorethanhiswages"（shouldread:producedmorevaluethanthevalueofhiswages）。（Sismondi，l。c。，p。135。）
Tobesure，thematterlooksquitedifferentifweconsidercapitalistproductionintheuninterruptedflowofitsrenewal，andif，inplaceoftheindividualcapitalistandtheindividualworker，weviewintheirtotality，thecapitalistclassandtheworking—classconfrontingeachother。Butinsodoingweshouldbeapplyingstandardsentirelyforeigntocommodityproduction。
Onlybuyerandseller，mutuallyindependent，faceeachotherincommodityproduction。Therelationsbetweenthemceaseonthedaywhenthetermstipulatedinthecontracttheyconcludedexpires。Ifthetransactionisrepeated，itisrepeatedasthe—resultofanewagreementwhichhasnothingtodowiththepreviousoneandwhichonlybychancebringsthesamesellertogetheragainwiththesamebuyer。
If，therefore，commodityproduction，oroneofitsassociatedprocesses，istobejudgedaccordingtoitsowneconomiclaws，wemustconsidereachactofexchangebyitself，apartfromanyconnexionwiththeactofexchangeprecedingitandthatfollowingit。Andsincesalesandpurchasesarenegotiatedsolelybetweenparticularindividuals，itisnotadmissibletoseekhereforrelationsbetweenwholesocialclasses。
Howeverlongaseriesofperiodicalreproductionsandprecedingaccumulationsthecapitalfunctioningto—daymayhavepassedthrough，italwayspreservesitsoriginalvirginity。Solongasthelawsofexchangeareobservedineverysingleactofexchangethemodeofappropriationcanbecompletelyrevolutionisedwithoutinanywayaffectingthepropertyrightswhichcorrespondtocommodityproduction。Thesesamerightsremaininforcebothattheoutset，whentheproductbelongstoitsproducer，who，exchangingequivalentforequivalent，canenrichhimselfonlybyhisownlabour，andalsointheperiodofcapitalism，whensocialwealthbecomestoanever—increasingdegreethepropertyofthosewhoareinapositiontoappropriatecontinuallyandeverafreshtheunpaidlabourofothers。
Thisresultbecomesinevitablefromthemomentthereisafreesale，bythelabourerhimself，oflabour—powerasacommodity。Butitisalsoonlyfromthenonwardsthatcommodityproductionisgeneralisedandbecomesthetypicalformofproduction;itisonlyfromthenonwardsthat，fromthefirst，everyproductisproducedforsaleandallwealthproducedgoesthroughthesphereofcirculation。Onlywhenandwherewage—labourisitsbasisdoescommodityproductionimposeitselfuponsocietyasawhole;butonlythenandtherealsodoesitunfoldallitshiddenpotentialities。Tosaythatthesuperventionofwage—labouradulteratescommodityproductionistosaythatcommodityproductionmustnotdevelopifitistoremainunadulterated。Totheextentthatcommodityproduction，inaccordancewithitsowninherentlaws，developsfurther，intocapitalistproduction，thepropertylawsofcommodityproductionchangeintothelawsofcapitalistappropriation。[8]
Wehaveseenthateveninthecaseofsimplereproduction，allcapital，whateveritsoriginalsource，becomesconvertedintoaccumulatedcapital，capitalisedsurplus—value。Butinthefloodofproductionallthecapitaloriginallyadvancedbecomesavanishingquantity（magnitudoevanescens，inthemathematicalsense），comparedwiththedirectlyaccumulatedcapital，i。e。，withthesurplus—valueorsurplus—productthatisreconvertedintocapital，whetheritfunctionsinthehandsofitsaccumulator，orinthoseofothers。Hence，PoliticalEconomydescribescapitalingeneralas"accumulatedwealth"（convertedsurplus—valueorrevenue），"thatisemployedoveragainintheproductionofsurplus—value，"[9]andthecapitalistas"theownerofsurplus—value。"[10]Itismerelyanotherwayofexpressingthesamethingtosaythatallexistingcapitalisaccumulatedorcapitalisedinterest，forinterestisamerefragmentofsurplus—value。[11]
SECTION2。ERRONEOUSCONCEPTION，BYPOLITICALECONOMY，OFREPRODUCTIONONAPROGRESSIVELY
INCREASINGSCALE
Beforewefurtherinvestigateaccumulationorthereconversionofsurplus—valueintocapital，wemustbrushononesideanambiguityintroducedbytheclassicaleconomists。
Justaslittleasthecommoditiesthatthecapitalistbuyswithapartofthesurplus—valueforhisownconsumption，servethepurposeofproductionandofcreationofvalue，solittleisthelabourthathebuysforthesatisfactionofhisnaturalandsocialrequirements，productivelabour。
Insteadofconvertingsurplus—valueintocapital，he，onthecontrary，bythepurchaseofthosecommoditiesandthatlabour，consumesorexpendsitasrevenue。Inthefaceofthehabitualmodeoflifeoftheoldfeudalnobility，which，asHegelrightlysays，"consistsinconsumingwhatisinhand，"andmoreespeciallydisplaysitselfintheluxuryofpersonalretainers，itwasextremelyimportantforbourgeoiseconomytopromulgatethedoctrinethataccumulationofcapitalisthefirstdutyofeverycitizen，andtopreachwithoutceasing，thatamancannotaccumulate，ifheeatsupallhisrevenue，insteadofspendingagoodpartofitintheacquisitionofadditionalproductivelabourers，whobringinmorethantheycost。Ontheotherhandtheeconomistshadtocontendagainstthepopularprejudice，thatconfusescapitalistproductionwithhoarding，[12]andfanciesthataccumulatedwealthiseitherwealththatisrescuedfrombeingdestroyedinitsexistingform，i。e。，frombeingconsumed，orwealththatiswithdrawnfromcirculation。Exclusionofmoneyfromcirculationwouldalsoexcludeabsolutelyitsself—expansionascapital，whileaccumulationofahoardintheshapeofcommoditieswouldbesheertomfoolery。[13]Theaccumulationofcommoditiesingreatmassesistheresulteitherofover—productionorofastoppageofcirculation。[14]Itistruethatthepopularmindisimpressedbythesight，ontheonehand，ofthemassofgoodsthatarestoredupforgradualconsumptionbytherich，[15]andontheotherhand，bytheformationofreservestocks;thelatter，aphenomenonthatiscommontoallmodesofproduction，andonwhichweshalldwellforamoment，whenwecometoanalysecirculation。Classicaleconomyisthereforequiteright，whenitmaintainsthattheconsumptionofsurplus—productsbyproductive，insteadofbyunproductivelabourers，isacharacteristicfeatureoftheprocessofaccumulation。Butatthispointthemistakesalsobegin。AdamSmithhasmadeitthefashion，torepresentaccumulationasnothingmorethanconsumptionofsurplus—productsbyproductivelabourers，whichamountstosaying，thatthecapitalisingofsurplus—valueconsistsinmerelyturningsurplus—valueintolabour—power。
LetusseewhatRicardo，e。g。，says:"Itmustbeunderstoodthatalltheproductionsofacountryareconsumed;butitmakesthegreatestdifferenceimaginablewhethertheyareconsumedbythosewhoreproduce，orbythosewhodonotreproduceanothervalue。Whenwesaythatrevenueissaved，andaddedtocapital，whatwemeanis，thattheportionofrevenue，sosaidtobeaddedtocapital，isconsumedbyproductiveinsteadofunproductivelabourers。Therecanbenogreatererrorthaninsupposingthatcapitalisincreasedbynon—consumption。"[16]TherecanbenogreatererrorthanthatwhichRicardoandallsubsequenteconomistsrepeatafterA。Smith，viz。，that"thepartofrevenue，ofwhichitissaid，ithasbeenaddedtocapital，isconsumedbyproductivelabourers。"
Accordingtothis，allsurplus—valuethatischangedintocapitalbecomesvariablecapital。Sofarfromthisbeingthecase，thesurplus—value，liketheoriginalcapital，dividesitselfintoconstantcapitalandvariablecapital，intomeansofproductionandlabour—power。labour—poweristheformunderwhichvariablecapitalexistsduringtheprocessofproduction。
Inthisprocessthelabour—powerisitselfconsumedbythecapitalistwhilethemeansofproductionareconsumedbythelabour—powerintheexerciseofitsfunction，labour。Atthesametime，themoneypaidforthepurchaseofthelabour—power，isconvertedintonecessaries，thatareconsumed，notby"productivelabour，"butbythe"productivelabourer。"AdamSmith，byafundamentallypervertedanalysis，arrivesattheabsurdconclusion，thateventhougheachindividualcapitalisdividedintoaconstantandavariablepart，thecapitalofsocietyresolvesitselfonlyintovariablecapital，i。e，islaidoutexclusivelyinpaymentofwages。Forinstance，supposeaclothmanufacturerconverts£2，000
intocapital。Oneportionhelaysoutinbuyingweavers，theotherinwoollenyam，machinery，&c。Butthepeople，fromwhomhebuystheyarnandthemachinery，payforlabourwithapartofthepurchasemoney，andsoonuntilthewhole£2，000arespentinthepaymentofwages，i。e，untiltheentireproductrepresentedbythe£2，000hasbeenconsumedbyproductivelabourers。Itisevidentthatthewholegistofthisargumentliesinthewords"andsoon，"whichsendusfrompillartopost。Intruth，AdamSmithbreakshisinvestigationoff，justwhereitsdifficultiesbegin。[17]
Theannualprocessofreproductioniseasilyunderstood，solongaswekeepinviewmerelythesumtotaloftheyear’sproduction。
Buteverysinglecomponentofthisproductmustbebroughtintothemarketasacommodity，andtherethedifficultybegins。Themovementsoftheindividualcapitals，andofthepersonalrevenues，crossandintermingleandarelostinthegeneralchangeofplaces，inthecirculationofthewealthofsociety;
thisdazesthesight，andpropoundsverycomplicatedproblemsforsolution。
InthethirdpartofBookII。Ishallgivetheanalysisoftherealbearingsofthefacts。ItisoneofthegreatmeritsofthePhysiocrats，thatintheirTableauéconomiquetheywerethefirsttoattempttodepicttheannualproductionintheshapeinwhichitispresentedtousafterpassingthroughtheprocessofcirculation。[18]
Fortherest，itisamatterofcourse，thatPoliticalEconomy，actingintheinterestsofthecapitalistclass，hasnotfailedtoexploitthedoctrineofAdam。Smith，viz。，thatthewholeofthatpartofthesurplus—productwhichisconvertedintocapital，isconsumedbytheworking—class。
SECTION3。SEPARATIONOFSURPLUS—VALUEINTOCAPITALANDREVENUE。THEABSTINENCETHEORY
Inthelastprecedingchapter，wetreatedsurplus—value（orthesurplus—product）
solelyasafundforsupplyingtheindividualconsumptionofthecapitalist。
Inthischapterwehave，sofar，treateditsolelyasafundforaccumulation。
Itis，however，neithertheonenortheother，butisbothtogether。Oneportionisconsumedbythecapitalistasrevenue，[19]theotherisemployedascapital，isaccumulated。
Giventhemassofsurplus—value，then，thelargertheoneoftheseparts，thesmalleristheother。Caeterisparibus，theratioofthesepartsdeterminesthemagnitudeoftheaccumulation。
Butitisbytheownerofthesurplus—value，bythecapitalistalone，thatthedivisionismade。itishisdeliberateact。Thatpartofthetributeexactedbyhimwhichheaccumulates，issaidtobesavedbyhim，becausehedoesnoteatit，i。e，becauseheperformsthefunctionofacapitalist，andenricheshimself。
Exceptaspersonifiedcapital，thecapitalisthasnohistoricalvalue，andnorighttothathistoricalexistence，which，touseanexpressionofthewittyLichnowsky，"hasn’tgotnodate。"Andsofaronlyisthenecessityforhisowntransitoryexistenceimpliedinthetransitorynecessityforthecapitalistmodeofproduction。But，sofarasheispersonifiedcapital，itisnotvaluesinuseandtheenjoymentofthem。butexchange—valueanditsaugmentation，thatspurhimintoaction。Fanaticallybentonmakingvalueexpanditself，heruthlesslyforcesthehumanracetoproduceforproduction’ssake;hethusforcesthedevelopmentoftheproductivepowersofsociety，andcreatesthosematerialconditions，whichalonecanformtherealbasisofahigherformofsociety，asocietyinwhichthefullandfreedevelopmentofeveryindividualformstherulingprinciple。Onlyaspersonifiedcapitalisthecapitalistrespectable。Assuch，heshareswiththemiserthepassionforwealthaswealth。Butthatwhichinthemiserisamereidiosyncrasy，is，inthecapitalist，theeffectofthesocialmechanism，ofwhichheisbutoneofthewheels。Moreover，thedevelopmentofcapitalistproductionmakesitconstantlynecessarytokeepincreasingtheamountofthecapitallaidoutinagivenindustrialundertaking，andcompetitionmakestheimmanentlawsofcapitalistproductiontobefeltbyeachindividualcapitalist，asexternalcoercivelaws。Itcompelshimtokeepconstantlyextendinghiscapital，inordertopreserveit，butextendithecannot，exceptbymeansofprogressiveaccumulation。
Sofar，therefore，ashisactionsareamerefunctionofcapital？endowedascapitalis，inhisperson，withconsciousnessandawill？hisownprivateconsumptionisarobberyperpetratedonaccumulation，justasinbook—keepingbydoubleentry，theprivateexpenditureofthecapitalistisplacedonthedebtorsideofhisaccountagainsthiscapital。Toaccumulate，istoconquertheworldofsocialwealth，toincreasethemassofhumanbeingsexploitedbyhim，andthustoextendboththedirectandtheindirectswayofthecapitalisp;[20]
Butoriginalsinisatworkeverywhere。Ascapitalistproduction，accumulation，andwealth，becomedeveloped，thecapitalistceasestobethemereincarnationofcapital。Hehasafellow—feelingforhisownAdam，andhiseducationgraduallyenableshimtosmileattherageforasceticism，asamereprejudiceoftheold—fashionedmiser。Whilethecapitalistoftheclassicaltypebrandsindividualconsumptionasasinagainsthisfunction，andas"abstinence"fromaccumulating，themodernisedcapitalistiscapableoflookinguponaccumulationas"abstinence"frompleasure。
"Twosouls，alas，dodwellwithinhisbreast;
Theoneiseverpartingfromtheother。"[21]
Atthehistoricaldawnofcapitalistproduction，？andeverycapitalistupstarthaspersonallytogothroughthishistoricalstage？avarice，anddesiretogetrich，aretherulingpassions。Buttheprogressofcapitalistproductionnotonlycreatesaworldofdelights;itlaysopen，inspeculationandthecreditsystem，athousandsourcesofsuddenenrichmenp;Whenacertainstageofdevelopmenthasbeenreached，aconventionaldegreeofprodigality，whichisalsoanexhibitionofwealth，andconsequentlyasourceofcredit，becomesabusinessnecessitytothe"unfortunate"capitalist。
Luxuryentersintocapital’sexpensesofrepresentation。Moreover，thecapitalistgetsrich，notlikethemiser，inproportiontohispersonallabourandrestrictedconsumption，butatthesamerateashesqueezesoutthelabour—powerofothers，andenforcesonthelabourerabstinencefromalllife’senjoyments。Although，therefore，theprodigalityofthecapitalistneverpossessesthebonâ—fidecharacteroftheopen—handedfeudallord’sprodigality，but，onthecontrary，hasalwayslurkingbehinditthemostsordidavariceandthemostanxiouscalculation，yethisexpendituregrowswithhisaccumulation，withouttheonenecessarilyrestrictingtheother。Butalongwiththisgrowth，thereisatthesametimedevelopedinhisbreast，aFaustianconflictbetweenthepassionforaccumulation，andthedesireforenjoyment。
Dr。Aikinsaysinaworkpublishedin1795:"ThetradeofManchestermaybedividedintofourperiods。First，whenmanufacturerswereobligedtoworkhardfortheirlivelihood。"Theyenrichedthemselveschieflybyrobbingtheparents，whosechildrenwereboundasapprenticestothem;
theparentspaidahighpremium，whiletheapprenticeswerestarved。Ontheotherhand，theaverageprofitswerelow，andtoaccumulate，extremeparsimonywasrequisite。Theylivedlikemisersandwerefarfromconsumingeventheinterestontheircapital。"Thesecondperiod，whentheyhadbeguntoacquirelittlefortunes，butworkedashardasbefore，"？fordirectexploitationoflabourcostslabour，aseveryslave—driverknows？"andlivedinasplainamannerasbefore……Thethird，whenluxurybegan，andthetradewaspushedbysendingoutridersforordersintoeverymarkettownintheKingdom……Itisprobablethatfewornocapitalsof£3，000
to£4，000acquiredbytradeexistedherebefore1690。However，aboutthattime，oralittlelater，thetradershadgotmoneybeforehand，andbegantobuildmodembrickhouses，insteadofthoseofwoodandplaster。"
Evenintheearlypartofthe18thcenturp;aManchestermanufacturer，whoplacedapintofforeignwinebeforehisguests，exposedhimselftotheremarksandheadshakingsofallhisneighbours。Beforetheriseofmachinery，amanufacturer’seveningexpenditureatthepublichousewheretheyallmet，neverexceededsixpenceforaglassofpunch，andapennyforascrewoftobacco。Itwasnottill1758，andthismarksanepoch，thatapersonactuallyengagedinbusinesswasseenwithanequipageofhisown。"Thefourthperiod，"thelast30yearsofthe18thcentury，"isthatinwhichexpenseandluxuryhavemadegreatprogress，andwassupportedbyatradeextendedbymeansofridersandfactorsthrougheverypartofEurope。"[22]WhatwouldthegoodDr。AikinsayifhecouldrisefromhisgraveandseetheManchesterofto—day？
Accumulate，accumulate！ThatisMosesandtheprophets！"Industryfurnishesthematerialwhichsavingaccumulates。"[23]Therefore，save，save，i。e，reconvertthegreatestpossibleportionofsurplus—value，orsurplus—productintocapital！Accumulationforaccumulation’ssake，productionforproduction’ssake:bythisformulaclassicaleconomyexpressedthehistoricalmissionofthebourgeoisie，anddidnotforasingleinstantdeceiveitselfoverthebirth—throesofwealth。[24]Butwhatavailslamentationinthefaceofhistoricalnecessity？Iftoclassicaleconomy，theproletarianisbutamachinefortheproductionofsurplus—value;ontheotherhand，thecapitalistisinitseyesonlyamachinefortheconversionofthissurplus—valueintoadditionalcapital。
PoliticalEconomytakesthehistoricalfunctionofthecapitalistinbitterearnest。Inordertocharmoutofhisbosomtheawfulconflictbetweenthedesireforenjoymentandthechaseafterriches，Malthus，abouttheyear1820，advocatedadivisionoflabour，whichassignstothecapitalistactuallyengagedinproduction，thebusinessofaccumulating，andtotheothersharersinsurplus—value，tothelandlords，theplace—men，thebeneficedclergy，&c。，thebusinessofspending。Itisofthehighestimportance，hesays，"tokeepseparatethepassionforexpenditureandthepassionforaccumulation。"[25]Thecapitalistshavinglongbeengoodliversandmenoftheworld，utteredloudcries。What，exclaimedoneoftheirspokesmen，adiscipleofRicardo，Mr。Malthuspreacheshighrents，heavytaxes，&c。，sothatthepressureofthespurmayconstantlybekeptontheindustriousbyunproductiveconsumers！
Byallmeans，production，productiononaconstantlyincreasingscale，runstheshibboleth;but"productionwill，bysuchaprocess，befarmorecurbedinthanspurredon。Norisitquitefairthustomaintaininidlenessanumberofpersons，onlytopinchothers，whoarelikely，fromtheircharacters，ifyoucanforcethemtowork，toworkwithsuccess。"[26]Unfairashefindsittospurontheindustrialcapitalist，bydeprivinghisbreadofitsbutter，yethethinksitnecessarytoreducethelabourer’swagestoaminimum"tokeephimindustrious。"Nordoesheforamomentconcealthefact，thattheappropriationofunpaidlabouristhesecretofsurplus—value。"Increaseddemandonthepartofthelabourersmeansnothingmorethantheirwillingnesstotakelessoftheirownproductforthemselves，andleaveagreaterpartofittotheiremployers;andifitbesaid，thatthisbegetsglut，bylesseningconsumption"（onthepartofthelabourers），"Icanonlyreplythatglutissynonymouswithlargeprofits。"[27]
Thelearneddisputation，howthebootypumpedoutofthelabourermaybedivided，withmostadvantagetoaccumulation，betweentheindustrialcapitalistandtherichidler，washushedinfaceoftherevolutionofJuly。Shortlyafterwards，thetownproletariatatLyonssoundedthetocsinofrevolution，andthecountryproletariatinEnglandbeganto，setfiretofarm—yardsandcorn—stacks。OnthissideoftheChannelOwenismbegantospread;ontheotherside，St。SimonismandFourierism。Thehourofvulgareconomyhadstruck。ExactlyayearbeforeNassauW。SeniordiscoveredatManchester，thattheprofit（includinginterest）ofcapitalistheproductofthelasthourofthetwelve，hehadannouncedtotheworldanotherdiscovery。
"Isubstitute，"heproudlysays，"forthewordcapital，consideredasaninstrumentofproduction，thewordabstinence。"’Anunparalleledsamplethis，ofthediscoveriesofvulgareconomy！Itsubstitutesforaneconomiccategory，asycophanticphrase？voilàtout。"Whenthesavage，"saysSenior，"makesbows，heexercisesanindustry，buthedoesnotpractiseabstinence。"[28]Thisexplainshowandwhy，intheearlierstatesofsociety，theimplementsoflabourwerefabricatedwithoutabstinenceonthepartofthecapitalist。
"Themoresocietyprogresses，themoreabstinenceisdemanded，"[29]namely，fromthosewhoplytheindustryofappropriatingthefruitsofothers’industry。Alltheconditionsforcarryingonthelabour—processaresuddenlyconvertedintosomanyactsofabstinenceonthepartofthecapitalist。Ifthecornisnotalleaten，butpartofitalsosown？abstinenceofthecapitalist。Ifthewinegetstimetomature？abstinenp;ofthecapitalist。[30]Thecapitalistrobshisownself，wheneverhe"lends（！）theinstrumentsofproductiontothelabourer，"thatis，wheneverbyincorporatinglabour—powerwiththem，heusesthemtoextractsurplus—valueoutofthatIabour—power，insteadofeatingthemup，steam—engines，cotton，railways，manure，horses，andall;orasthevulgareconomistchildishlyputsit，insteadofdissipating"theirvalue"inluxuriesandotherarticlesofconsumption。[31]Howthecapitalistsasaclassaretoperformthatfeat，isasecretthatvulgareconomyhashithertoobstinatelyrefusedtodivulge。Enough，thattheworldstilljogson，solelythroughtheself—chastisementofthismodernpenitentofVishnu，thecapitalist。Notonlyaccumulation，butthesimple"conservationofacapitalrequiresaconstantefforttoresistthetemptationofconsumingit。"[32]Thesimpledictatesofhumanitythereforeplainlyenjointhereleaseofthecapitalistfromthismartyrdomandtemptation，inthesamewaythattheGeorgianslave—ownerwaslatelydelivered，bytheabolitionofslavery，fromthepainfuldilemma，whethertosquanderthesurplus—product，lashedoutofhisniggers，entirelyinchampagne，orwhethertoreconvertapartofitintomoreniggersandmoreland。
Ineconomicformsofsocietyofthemostdifferentkinds，thereoccurs，notonlysimplereproduction，but，invaryingdegrees，reproductiononaprogressivelyincreasingscale。Bydegreesmoreisproducedandmoreconsumed，andconsequentlymoreproductshavetobeconvertedintomeansofproduction。Thisprocess，however，doesnotpresentitselfasaccumulationofcapital，norasthefunctionofacapitalist，solongasthelabourer’smeansofproduction，andwiththem，hisproductandmeansofsubsistence，donotconfronthimintheshapeofcapital。[33]RichardJones，whodiedafewyearsago，andwasthesuccessorofMalthusinthechairofPoliticalEconomyatHaileyburyCollege，discussesthispointwellinthelightoftwoimportantfacts。SincethegreatmassoftheHindupopulationarepeasantscultivatingtheirlandthemselves，theirproducts，theirinstrumentsoflabourandmeansofsubsistencenevertake"theshapeofafundsavedfromrevenue，whichfundhas，therefore，gonethroughapreviousprocessofaccumulation。"[34]Ontheotherhand，thenon—agriculturallabourersinthoseprovinceswheretheEnglishrulehasleastdisturbedtheoldsystem，aredirectlyemployedbythemagnates，towhomaportionoftheagriculturalsurplus—productisrenderedintheshapeoftributeorrent。Oneportionofthisproductisconsumedbythemagnatesinkind，anotherisconverted，fortheiruse，bythelabourers，intoarticlesofluxuryandsuchlikethings，whiletherestformsthewagesofthelabourers，whoowntheirimplementsoflabour。
Here，productionandreproductiononaprogressivelyincreasingscale，goontheirwaywithoutanyinterventionfromthatqueersaint，thatknightofthewoefulcountenance，thecapitalist"abstainer。"
SECTION4。CIRCUMSTANCESTHAT，INDEPENDENTLYOFTHEPROPORTIONALDIVISIONOFSURPLUS—VALUE
INTOCAPITALANDREVENUE，DETERMINETHEAMOUNTOFACCUMULATION。DEGREE
OFEXPLOITATIONOFLABOUR—POWER。PRODUCTIVITYOFLABOUR。GROWINGDIFFERENCE
INAMOUNTBETWEENCAPITALEMPLOYEDANDCAPITALCONSUMED。MAGNITUDEOFCAPITAL
ADVANCED
Theproportioninwhichsurplus—valuebreaksupintocapitalandrevenuebeinggiven，themagnitudeofthecapitalaccumulatedclearlydependsontheabsolutemagnitudeofthesurplus—value。Supposethat80percent。
werecapitalisedand20percent。eatenup，theaccumulatedcapitalwillbe£2，400or£200，accordingasthetotalsurplusvaluehasamountedto£3，000or£500。Henceallthecircumstancesthatdeterminethemassofsurplus—value，operatetodeterminethemagnitudeoftheaccumulation。Wesumthemuponceagain，butonlyinsofarastheyaffordnewpointsofviewinregardtoaccumulation。
Itwillberememberedthattherateofsurplus—valuedepends，inthefirstplace，onthedegreeofexploitationoflabour—power。PoliticalEconomyvaluesthisfactsohighly，thatitoccasionallyidentifiestheaccelerationofaccumulationduetoincreasedproductivenessoflabour，withitsaccelerationduetoincreasedexploitationofthelabourer。[35]Inthechaptersontheproductionofsurplus—valueitwasconstantlypre—supposedthatwagesareatleastequaltothevalueoflabour—power。Forciblereductionofwagesbelowthisvalueplays，however，inpracticetooimportantapart，forusnottopauseuponitforamoment。It，infact，transforms，withincertainlimits，thelabourer’snecessaryconsumption—fundintoafundfortheaccumulationofcapital。
"Wages，"saysJohnStuartMill，"havenoproductivepower;theyarethepriceofaproductivepower。Wagesdonotcontribute，alongwithlabour，totheproductionofcommodities，nomorethanthepriceoftoolscontributesalongwiththetoolsthemselves。Iflabourcouldbehadwithoutpurchase，wagesmightbedispensedwith。"[36]Butifthelabourerscouldliveonairtheycouldnotbeboughtatanyprice。Thezerooftheircostisthereforealimitinamathematicalsense，alwaysbeyondreach，althoughwecanalwaysapproximatemoreandmorenearlytoit。Theconstanttendencyofcapitalistoforcethecostoflabourbacktowardsthiszero。Awriterofthe18thcentury，oftenquotedalready，theauthorofthe"EssayonTradeandCommerce，"onlybetraystheinnermostsecretsoulofEnglishcapitalism，whenhedeclaresthehistoricmissionofEnglandtobetheforcingdownofEnglishwagestotheleveloftheFrenchandtheDutch。[37]Withotherthingshesaysnaively:"Butifourpoor"（technicaltermforlabourers）"willliveluxuriously……thenlabourmust，ofcourse，bedear……
Whenitisconsideredwhatluxuriesthemanufacturingpopulaceconsume，suchasbrandy，gin，tea，sugar，foreignfruit，strongbeer，printedlinens，snuff，tobacco，&C。"[38]HequotestheworkofaNorthamptonshiremanufacturer，who，witheyessquintingheavenwardmoans:"Labourisone—thirdcheaperinFrancethaninEngland;fortheirpoorworkhard，andfarehard，astotheirfoodandclothing。Theirchiefdietisbread，fruit，herbs，roots，anddriedfish;fortheyveryseldomeatflesh;andwhenwheatisdear，theyeatverylittlebread。"[39]"Towhichmaybeadded，"ouressayistgoeson，"thattheirdrinkiseitherwaterorothersmallliquors，sothattheyspendverylittlemoney……Thesethingsareverydifficulttobebroughtabout;buttheyarenotimpracticable，sincetheyhavebeeneffectedbothinFranceandinHolland。"[40]Twentyyearslater，anAmericanhumbug，thebaronisedYankee，BenjaminThompson（aliasCountRumford）followedthesamelineofphilanthropytothegreatsatisfactionofGodandman。His"Essays"areacookerybookwithreceiptsofallkindsforreplacingbysomesuccedaneumtheordinarydearfoodofthelabourer。Thefollowingisaparticularlysuccessfulreceiptofthiswonderfulphilosopher:"5lbs。ofbarleymeal，71/2d。;5lbs。