ChapterThirtyKarlMarxCapitalVolumeOnePartVIII:
PrimativeAccumulationCHAPTERTHIRTY:
REACTIONOFTHEAGRICULTURALREVOLUTIONONINDUSTRY。CREATIONOFTHEHOME—MARKET
FORINDUSTRIALCAPITAL
Theexpropriationandexpulsionoftheagriculturalpopulation，intermittentbutrenewedagainandagain，supplied，aswesaw，thetownindustrieswithamassofproletariansentirelyconnectedwiththecorporateguildsandunfetteredbythem;afortunatecircumstancethatmakesoldA。Anderson（nottobeconfoundedwithJamesAnderson），inhis"HistoryofCommerce"，believeinthedirectinterventionofProvidence。Wemuststillpauseamomentonthiselementofprimitiveaccumulation。Thethinning—outoftheindependent，self—supportingpeasantsnotonlybroughtaboutthecrowdingtogetheroftheindustrialproletariat，inthewaythatGeoffreySaintHilaireexplainedthecondensationofcosmicalmatteratoneplace，byitsrarefactionatanother。[1]Inspiteofthesmallernumberofitscultivators，thesoilbroughtforthasmuchormoreproduce，afterasbefore，becausetherevolutionintheconditionsoflandedpropertywasaccompaniedbyimprovedmethodsofculture，greaterco—operation，concentrationofthemeansofproduction，&c。，andbecausenotonlyweretheagriculturalwage—laborersputonthestrainmoreintensely[2]，butthefieldofproductiononwhichtheyworkedforthemselvesbecamemoreandmorecontracted。Withthesettingfreeofapartoftheagriculturalpopulation，therefore，theirformermeansofnourishmentwerealsosetfree。Theywerenowtransformedintomaterialelementsofvariablecapital。
Thepeasant，expropriatedandcastadrift，mustbuytheirvalueintheformofwages，fromhisnewmaster，theindustrialcapitalist。thatwhichholdsgoodofthemeansofsubsistenceholdswiththerawmaterialsofindustrydependentuponhomeagriculture。Theyweretransformedintoanelementofconstantcapital。Suppose，e。g。，apartoftheWestphalianpeasants，who，atthetimeofFrederickII，allspanflax，forciblyexpropriatedandhuntedfromthesoil;andtheotherpartthatremained，turnedintoday—laborersoflargefarmers。Atthesametimeariselargeestablishmentsforflax—spinningandweaving，inwhichthemen"setfree"nowworkforwages。Theflaxlooksexactlyasbefore。Notafibreofitischanged，butanewsocialsoulhaspoppedintoitsbody。Itformsnowapartoftheconstantcapitalofthemastermanufacturer。Formerlydividedamonganumberofsmallproducers，whocultivateditthemselvesandwiththeirfamiliesspunitinretailfashion，itisnowconcentratedinthehandofonecapitalist，whosetsotherstospinandweaveitforhim。Theextralaborexpendedinflax—spinningrealizeditselfformerlyinextraincometonumerouspeasantfamilies，ormaybe，inFrederickII’stime，intaxespourleroidePrusse。Itrealizesitselfnowinprofitforafewcapitalists。thespindlesandlooms，formerlyscatteredoverthefaceofthecountry，arenowcrowdedtogetherinafewgreatlabor—barracks，togetherwiththelaborersandtherawmaterial。Andspindles，looms，rawmaterial，arenowtransformedfrommeansofindependentexistenceforthespinnersandweavers，intomeansforcommandingthemandsuckingoutofthemunpaidlabor。[3]Onedoesnotperceive，whenlookingatthelargemanufactoriesandthelargefarms，thattheyhaveoriginatedfromthethrowingintooneofmanysmallcentresofproduction，andhavebeenbuiltupbytheexpropriationofmanysmallindependentproducers。Nevertheless，thepopularintuitionwasnotatfault。InthetimeofMirabeau，thelionoftheRevolution，thegreatmanufactorieswerestillcalledmanufacturesreunies，workshopsthrownintoone，aswespeakoffieldthrownintoone。SaysMirabeau:"Weareonlypayingattentiontothegrandmanufactories，inwhichhundredsofmenworkunderadirectorandwhicharecommonlycalledmanufacturesréunies。Thosewhereaverylargenumberoflaborerswork，eachseparatelyandonhisownaccount，arehardlyconsidered;theyareplacedataninfinitedistancefromtheothers。Thisisagreaterror，asthelatteralonemakeareallyimportantobjectofnationalprosperity……
Thelargeworkshop（manufactureréunie）willenrichprodigiouslyoneortwoentrepreneurs，butthelaborerswillonlybejourneymen，paidmoreorless，andwillnothaveanyshareinthesuccessoftheundertaking。
Inthediscreteworkshop（manufactureseparee），onthecontrary，noonewillbecomerich，butmanylaborerswillbecomfortable;thesavingandtheindustriouswillbeabletoamassalittlecapital，toputbyalittleforabirthofachild，foranillness，forthemselvesortheirbelongings。
Thenumberofsavingandindustriouslaborerswillincrease，becausetheywillseeingoodconduct，inactivity，ameansofessentiallybetteringtheircondition，andnotofobtainingasmallriseinwagesthatcanneverbeofanyimportanceofthefuture，andwhosesoleresultistoplacemeninthepositiontolivealittlebetter，butonlyfromdaytoday……Thelargeworkshops，undertakingsofcertainprivatepersonswhopaylaborersfromdaytodaytoworkfortheirgain，maybeabletoputtheseprivateindividualsattheirease，buttheywillneverbeanobjectworththeattentionofgovernments。Discreteworkshops，forthemostpartcombinedwithcultivationofsmallholdings，aretheonlyfreeones。"[4]Theexpropriationandevictionofapartoftheagriculturalpopulationnotonlysetfreeforindustrialcapital，thelaborers，theirmeansofsubsistence，andmaterialforlabor;italsocreatedthehome—market。
Infact，theeventsthattransformedthesmallpeasantsintowage—laborers，andtheirmeansofsubsistenceandoflaborintomaterialelementsofcapital，created，atthesametime，ahome—marketforthelatter。Formerly，thepeasantfamilyproducedthemeansofsubsistenceandtherawmaterials，whichtheythemselves，forthemostpart，consumed。Theserawmaterialsandmeansofsubsistencehavenowbecomecommodities;thelargefarmersellsthem，hefindshismarketinmanufactures。Yarn，inen，coarsewoollenstuffs？thingswhoserawmaterialshadbeenwithinthereachofeverypeasantfamily，hadbeenspunandwovenbyitforitsownuse？werenowtransformedintoarticlesofmanufacture，towhichthecountrydistrictsatonceservedformarkets。Themanyscatteredcustomers，whomstrayartisansuntilnowhadfoundinthenumeroussmallproducersworkingontheirownaccount，concentratethemselvesnowintoonegreatmarketprovidedforbyindustrialcapitap;[5]Thus，handinhandwiththeexpropriationoftheself—supportingpeasants，withtheirseparationfromtheirmeansofproduction，goesthedestructionofruraldomesticindustry，theprocessofseparationbetweenmanufactureandagriculture。Andonlythedestructionofruraldomesticindustrycangivetheinternalmarketofcountrythatextensionandconsistencewhichthecapitalistmodeofproductionrequires。Stillthemanufacturingperiod，properlysocalled，doesnotsucceedincarryingoutthistransformationradicallyandcompletely。Itwillberememberedthatmanufacture，properlysocalled，conquersbutpartiallythedomainofnationalproduction，ndalwaysrestsonthehandicraftsofthetownandthedomesticindustryoftheruraldistrictsasitsultimatebasis。Ifitdestroystheseinoneform，inparticularbranches，atcertainpoints，itcallsthemupagainelsewhere，becauseitneedsthemforthepreparationofrawmaterialuptoacertainpoint。Itproduces，therefore，anewclassofsmallvillagerswho，whilefollowingthecultivationofthesoilasanaccessarycalling，findtheirchiefoccupationinindustriallabor，theproductsofwhichtheyselltothemanufacturersdirectly，orthroughthemediumofmerchants。
Thisisone，thoughnotthechief，causeofaphenomenonwhich，atfirst，puzzlesthestudentofenglishhistory。Fromthelastthirdofthe15thcenturyhefindscontinuallycomplaints，onlyinterruptedatcertainintervals，abouttheencroachmentofcapitalistfarminginthecountrydistricts，andtheprogressivedestructionofthepeasantry。Ontheotherhand，healwaysfindsthispeasantryturningupagain，althoughindiminishednumber，andalwaysunderworseconditions。Thechiefreasonis:Englandisatonetimechieflyacultivatorofcorn，atanotherchieflyabreederofcattle，inalternateperiods，andwiththesetheextent，supplies，inmachinery，thelastingbasisofcapitalisticagriculture，expropriatesradicallytheenormousmajorityoftheagriculturalpopulation，andcompletestheseparationbetweenagricultureandruraldomesticindustry，whoseroots？spinningandweaving？ittearsup;[7]Itthereforealso，forthefirsttie，conquersforindustrialcapitaltheentirehome—market。[8]
Footnotes[1]Inhis"NotionsdePhilosophieNaturelle"。Paris，1838。
[2]ApointthatSirJamesSteuartemphasizes。
[3]"Jepermettrai，"saysthecapitalist，"quevousayezl’honneurdemeservir，àconditionquevousmedonnezlepeuquivouslapeinequejeprendsdevouscommander。"（J。J。Rousseau:"Discourssurl’EconomiePolitique。"）
[4]Mirabeau，l。c。，t。III，pp。20—109passim。ThatMirabeauconsiderstheseparateworkshopsmoreeconomicalandproductivethanthe"combined"，andseesinthelattermerelyartificialexoticsundergovernmentcultivation，isexplainedbythepositionatthattimeofagreatpartofthecontinentalmanufactures。
[5]"Twentypoundsofwoolconvertedunobtrusivelyintoyearlyclothingofalaborer’sfamilybyitsownindustryintheintervalsofotherworks？thismakesnoshow;butbringittomarket，sendittothefactory，thencetothebroker，thencetothedealer，andyouwillhavegreatcommercialoperations，andnominalcapitalengagedtotheamountoftwentytimesitsvalue……Theworking—classisthusemersedtosupportawretchedfactorypopulation，aparasticalshop—keepingclass，andafictitiouscommercial，monetary，andfinancialsystem。"（DavidUrquhart，l。c。，p。120。）
[6]Cromwell’stimeformsanexception。SolongastheRepubliclasted，themassoftheEnglishpeopleofallgradesrosefromthedegradationintowhichtheyhadsunkundertheTudors。
[7]Tuckettisawarethatthemodernwoollenindustryhassprung，withtheintroductionofmachinery，frommanufactureproperandfromthedestructionofruralanddomesticindustries。"Theplough，theyoke，were’theinventionofgods，andtheoccupationofheroes’;aretheloom，thespindle，thedistaff，oflessnobleparentage。
Youseverthedistaffandtheplough，thespindleandtheyoke，andyougetfactoriesandpoor—houses，creditandpanics，twohostilenations，agricultureandcommercial。"（DavidUrquhart，l。c。，p。122。）ButnowcomesCarey，andcriesoutuponEngland，surelynotwithunreason，thatitistryingtoturneveryothercountryintoamereagriculturalnation，whosemanufactureristobeEngland。HepretendsthatinthiswayTurkeyhasbeenruined，because"theownersandoccupantsoflandhaveneverbeenpermittedbyEnglandtostrengthenthemselvesbytheformationofthatnaturalalliancebetweentheploughandtheloom，thehammerandtheharrow。"（"TheSlaveTrade"，p。125。）Accordingtohim，UrquharthimselfisoneofthechiefagentsintheruinofTurkey，wherehehadmadeFree—tradepropagandaintheEnglishinterest。ThebestofitisthatCarey，agreatRussophilebytheway，wantstopreventtheprocessofseparationbythatverysystemofprotectionwhichacceleratesit。
[8]PhilanthropicEnglisheconomists，likeMill，Rogers，GoldwinSmith，Fawcett，&c。，andliberalmanufacturerslikeJohnBright&Co。，asktheEnglishlandedproprietors，asGodaskedCainafterAbel，Whereareourthousandsoffreeholdersgone？Butwheredoyoucomefrom，then？
Fromthedestructionofthosefreeholders。Whydon’tyouaskfurther，wherearetheindependentweavers，spinners，andartisansgone？
ChapterThirty—OneKarlMarxCapitalVolumeOnePartVIII:
PrimativeAccumulationCHAPTERTHIRTY—ONE:
GENESISOFTHEINDUSTRIALCAPITALIST
Thegenesisoftheindustrial[1]capitalistdidnotproceedinsuchagradualwayasthatofthefarmer。
Doubtlessmanysmallguild—masters，andyetmoreindependentsmallartisans，orevenwage—labourers，transformedthemselvesintosmallcapitalists，and（bygraduallyextendingexploitationofwage—labourandcorrespondingaccumulation）intofull—blowncapitalists。Intheinfancyofcapitalistproduction，thingsoftenhappenedasintheinfancyofmedievaltowns，wherethequestion，whichoftheescapedserfsshouldbemasterandwhichservant，wasingreatpartdecidedbytheearlierorlaterdateoftheirflight。Thesnail’spaceofthismethodcorrespondedinnowisewiththecommercialrequirementsofthenewworld—marketthatthegreatdiscoveriesoftheendofthe15thcenturycreated。Butthemiddleageshadhandeddowntwodistinctformsofcapital，whichmatureinthemostdifferenteconomicsocialformations，andwhichbeforetheeraofthecapitalistmodeofproduction，areconsideredascapitalquandmême？usurer’scapitalandmerchant’scapital;
"Atpresent，allthewealthofsocietygoesfirstintothepossessionofthecapitalist……hepaysthelandownerhisrent，thelabourerhiswages，thetaxandtithegatherertheirclaims，andkeepsalarge，indeedthelargest，andacontinuallyaugmentingshare，oftheannualproduceoflabourforhimself。Thecapitalistmaynowbesaidtobethefirstownerofallthewealthofthecommunity，thoughnolawhasconferredonhimtherighttothisproperty……thischangehasbeeneffectedbythetakingofinterestoncapital……anditisnotalittlecuriousthatallthelaw—giversofEuropeendeavouredtopreventthisbystatutes，viz。，statutesagainstusury……Thepowerofthecapitalistoverallthewealthofthecountryisacompletechangeintherightofproperty，andbywhatlaw，orseriesoflaws，wasiteffected？"[2]Theauthorshouldhaverememberedthatrevolutionsarenotmadebylaws。
Themoneycapitalformedbymeansofusuryandcommercewaspreventedfromturningintoindustrialcapital，inthecountrybythefeudalconstitution，inthetownsbytheguildorganisation。[3]Thesefettersvanishedwiththedissolutionoffeudalsociety，withtheexpropriationandpartialevictionofthecountrypopulation。ThenewmanufactureswereestablishedatWeapons，oratinlandpointsbeyondthecontroloftheoldmunicipalitiesandtheirguilds。HenceinEnglandanembitteredstruggleofthecorporatetownsagainstthesenewindustrialnurseries。
ThediscoveryofgoldandsilverinAmerica，theextirpation，enslavementandentombmentinminesoftheaboriginalpopulation，thebeginningoftheconquestandlootingoftheEastIndies，theturningofAfricaintoawarrenforthecommercialhuntingofblack—skins，signalisedtherosydawnoftheeraofcapitalistproduction。Theseidyllicproceedingsarethechiefmomentaofprimitiveaccumulation。OntheirheelstreadsthecommercialwaroftheEuropeannations，withtheglobeforatheatre。ItbeginswiththerevoltoftheNetherlandsfromSpain，assumesgiantdimensionsinEngland’sAnti—JacobinWar，andisstillgoingonintheopiumwarsagainstChina，&c。
Thedifferentmomentaofprimitiveaccumulationdistributethemselvesnow，moreorlessinchronologicalorder，particularlyoverSpain，Portugal，Holland，France，andEngland。InEnglandattheendofthe17thcentury，theyarriveatasystematicalcombination，embracingthecolonies，thenationaldebt，themodernmodeoftaxation，andtheprotectionistsystem。
Thesemethodsdependinpartonbruteforce，e。g。，thecolonialsystem。But，theyallemploythepoweroftheState，theconcentratedandorganisedforceofsociety，tohasten，hot—housefashion，theprocessoftransformationofthefeudalmodeofproductionintothecapitalistmode，andtoshortenthetransition。Forceisthemidwifeofeveryoldsocietypregnantwithanewone。Itisitselfaneconomicpower。
OftheChristiancolonialsystem，W。Howitt，amanwhomakesaspecialityofChristianity，says:"Thebarbaritiesanddesperateoutragesoftheso—calledChristianrace，throughouteveryregionoftheworld，anduponeverypeopletheyhavebeenabletosubdue，arenottobeparalleledbythoseofanyotherrace，howeverfierce，howeveruntaught，andhoweverrecklessofmercyandofshame，inanyageoftheearth。"[4]ThehistoryofthecolonialadministrationofHolland？andHollandwastheheadcapitalisticnationofthe17thcentury？"isoneofthemostextraordinaryrelationsoftreachery，bribery，massacre，andmeannesp;[5]Nothingismorecharacteristicthantheirsystemofstealingmen，togetslavesforJava。Themenstealersweretrainedforthispurpose。Thethief，theinterpreter，andtheseller，werethechiefagentsinthistrade，nativeprincesthechiefsellers。Theyoungpeoplestolen，werethrownintothesecretdungeonsofCelebes，untiltheywerereadyforsendingtotheslave—ships。
Anofficialreportsays:"ThisonetownofMacassar，e。g。，isfullofsecretprisons，onemorehorriblethantheother，crammedwithunfortunates，victimsofgreedandtyrannyfetteredinchains，forciblytornfromtheirfamilies。"TosecureMalacca，theDutchcorruptedthePortuguesegovernor。
Heletthemintothetownin1641。Theyhurriedatoncetohishouseandassassinatedhim，to"abstain"fromthepaymentof£21，875，thepriceofhistreason。Wherevertheysetfoot，devastationanddepopulationfollowed。
Banjuwangi，aprovinceofJava，in1750numberedover80，000inhabitants，in1811only18，000。Sweetcommerce！
TheEnglishEastIndiaCompany，asiswellknown，obtained，besidesthepoliticalruleinIndia，theexclusivemonopolyofthetea—trade，aswellasoftheChinesetradeingeneral，andofthetransportofgoodstoandfromEurope。ButthecoastingtradeofIndiaandbetweentheislands，aswellastheinternaltradeofIndia，werethemonopolyofthehigheremployésofthecompany。Themonopoliesofsalt，opium，betelandothercommodities，wereinexhaustibleminesofwealth。TheemployésthemselvesfixedthepriceandplunderedatwilltheunhappyHindus。TheGovernor—Generaltookpartinthisprivatetraffic。Hisfavouritesreceivedcontractsunderconditionswherebythey，clevererthanthealchemists，madegoldoutofnothing。Greatfortunesspranguplikemushroomsinaday;primitiveaccumulationwentonwithouttheadvanceofashilling。
ThetrialofWarrenHastingsswarmswithsuchcases。Hereisaninstance。
AcontractforopiumwasgiventoacertainSullivanatthemomentofhisdepartureonanofficialmissiontoapartofIndiafarremovedfromtheopiumdistrict。SullivansoldhiscontracttooneBinnfor£40，000;Binnsolditthesamedayfor£60，000，andtheultimatepurchaserwhocarriedoutthecontractdeclaredthatafterallherealisedanenormousgain。AccordingtooneofthelistslaidbeforeParliament，theCompanyanditsemployésfrom1757—1766got£6，000，000
fromtheIndiansasgifts。Between1769and1770，theEnglishmanufacturedafaminebybuyingupallthericeandrefusingtosellitagain，exceptatfabulousprices。[6]
Thetreatmentoftheaborigineswas，naturally，mostfrightfulinplantation—coloniesdestinedforexporttradeonly，suchastheWestIndies，andinrichandwell—populatedcountries，suchasMexicoandIndia，thatweregivenovertoplunder。Buteveninthecoloniesproperlysocalled，theChristiancharacterofprimitiveaccumulationdidnotbelieitself。ThosesobervirtuosiofProtestantism，thePuritansofNewEngland，in1703，bydecreesoftheirassemblysetapremiumof£40oneveryIndianscalpandeverycapturedred—skin:in1720apremiumof£100oneveryscalp;in1744，afterMassachusetts—Bayhadproclaimedacertaintribeasrebels，thefollowingprices:foramalescalpof12yearsandupwards£100（newcurrency），foramaleprisoner£105，forwomenandchildrenprisoners£50，forscalpsofwomenandchildren£50。Somedecadeslater，thecolonialsystemtookitsrevengeonthedescendantsofthepiouspilgrimfathers，whohadgrownseditiousinthemeantime。AtEnglishinstigationandforEnglishpaytheyweretomahawkedbyred—skins。TheBritishParliamentproclaimedbloodhoundsandscalpingas"meansthatGodandNaturehadgivenintoitshand。"
Thecolonialsystemripened，likeahot—house，tradeandnavigation。
The"societiesMonopolia"ofLutherwerepowerfulleversforconcentrationofcapital。Thecoloniessecuredamarketforthebuddingmanufactures，and，throughthemonopolyofthemarket，anincreasedaccumulation。ThetreasurescapturedoutsideEuropebyundisguisedlooting，enslavement，andmurder，floatedbacktothemother—countryandwerethereturnedintocapital。Holland，whichfirstfullydevelopedthecolonialsystem，in1648
stoodalreadyintheacmeofitscommercialgreatness。Itwas"inalmostexclusivepossessionoftheEastIndiantradeandthecommercebetweenthesouth—eastandnorth—westofEurope。Itsfisheries，marine，manufactures，surpassedthoseofanyothercountry。ThetotalcapitaloftheRepublicwasprobablymoreimportantthanthatofalltherestofEuropeputtogether。"
Gülichforgetstoaddthatby1648，thepeopleofHollandweremoreover—worked，poorerandmorebrutallyoppressedthanthoseofalltherestofEuropeputtogether。
To—dayindustrialsupremacyimpliescommercialsupremacy。Intheperiodofmanufactureproperlysocalled，itis，ontheotherhand，thecommercialsupremacythatgivesindustrialpredominance。Hencethepreponderantrôlethatthecolonialsystemplaysatthattime。Itwas"thestrangeGod"whoperchedhimselfonthealtarcheekbyjowlwiththeoldGodsofEurope，andonefinedaywithashoveandakickchuckedthemallofaheap。Itproclaimedsurplus—valuemakingasthesoleendandaimofhumanity。
Thesystemofpubliccredit，i。e。，ofnationaldebts，whoseoriginwediscoverinGenoaandVeniceasearlyasthemiddleages，tookpossessionofEuropegenerallyduringthemanufacturingperiod。Thecolonialsystemwithitsmaritimetradeandcommercialwarsservedasaforcing—houseforit。ThusitfirsttookrootinHolland。Nationaldebts，i。e。，thealienationofthestate—whetherdespotic，constitutionalorrepublican—markedwithitsstampthecapitalisticera。Theonlypartoftheso—callednationalwealththatactuallyentersintothecollectivepossessionsofmodernpeoplesistheirnationaldebt。[7]Hence，asanecessaryconsequence，themoderndoctrinethatanationbecomesthericherthemoredeeplyitisindebt。Publiccreditbecomesthecredoofcapital。Andwiththeriseofnationaldebt—making，wantoffaithinthenationaldebttakestheplaceoftheblasphemyagainsttheHolyGhost，whichmaynotbeforgiven。
Thepublicdebtbecomesoneofthemostpowerfulleversofprimitiveaccumulation。Aswiththestrokeofanenchanter’swand，itendowsbarrenmoneywiththepowerofbreedingandthusturnsitintocapital，withoutthenecessityofitsexposingitselftothetroublesandrisksinseparablefromitsemploymentinindustryoreveninusury。Thestate—creditorsactuallygivenothingaway，forthesumlentistransformedintopublicbonds，easilynegotiable，whichgoonfunctioningintheirhandsjustassomuchhardcashwould。Butfurther，apartfromtheclassoflazyannuitantsthuscreated，andfromtheimprovisedwealthofthefinanciers，middlemenbetweenthegovernmentandthenation—asalsoapartfromthetax—farmers，merchants，privatemanufacturers，towhomagoodpartofeverynationalloanrenderstheserviceofacapitalfallenfromheaven—thenationaldebthasgivenrisetojoint—stockcompanies，todealingsinnegotiableeffectsofallkinds，andtoagiotage，inawordtostock—exchangegamblingandthemodernbankocracy。
Attheirbirththegreatbanks，decoratedwithnationaltitles，wereonlyassociationsofprivatespeculators，whoplacedthemselvesbythesideofgovernments，and，thankstotheprivilegestheyreceived，wereinapositiontoadvancemoneytotheState。Hencetheaccumulationofthenationaldebthasnomoreinfalliblemeasurethanthesuccessiveriseinthestockofthesebanks，whosefulldevelopmentdatesfromthefoundingoftheBankofEnglandin1694。TheBankofEnglandbeganwithlendingitsmoneytotheGovernmentat8%;atthesametimeitwasempoweredbyParliamenttocoinmoneyoutofthesamecapital，bylendingitagaintothepublicintheformofbanknotes。Itwasallowedtousethesenotesfordiscountingbills，makingadvancesoncommodities，andforbuyingthepreciousmetals。
Itwasnotlongerethiscredit—money，madebythebankitself，became。
thecoininwhichtheBankofEnglandmadeitsloanstotheState，andpaid，onaccountoftheState，theinterestonthepublicdebt。Itwasnotenoughthatthebankgavewithonehandandtookbackmorewiththeother;itremained，evenwhilstreceiving，theeternalcreditorofthenationdowntothelastshillingadvanced。Graduallyitbecameinevitablythereceptacleofthemetallichoardofthecountry，andthecentreofgravityofallcommercialcredit。Whateffectwasproducedontheircontemporariesbythesuddenuprisingofthisbroodofbankocrats，financiers，rentiers，brokers，stock—jobbers，&c。，isprovedbythewritingsofthattime，e。g。，byBolingbroke’s。[8]
Withthenationaldebtaroseaninternationalcreditsystem，whichoftenconcealsoneofthesourcesofprimitiveaccumulationinthisorthatpeople。
ThusthevillainiesoftheVenetianthievingsystemformedoneofthesecretbasesofthecapital—wealthofHollandtowhomVeniceinherdecadencelentlargesumsofmoney。SoalsowasitwithHollandandEngland。Bythebeginningofthe18thcenturytheDutchmanufactureswerefaroutstripped。
Hollandhadceasedtobethenationpreponderantincommerceandindustry。
Oneofitsmainlinesofbusiness，therefore，from1701—1776，isthelendingoutofenormousamountsofcapital，especiallytoitsgreatrivalEngland。
Thesamethingisgoingonto—daybetweenEnglandandtheUnitedStates。
Agreatdealofcapital，whichappearsto—dayintheUnitedStateswithoutanycertificateofbirth，wasyesterday，inEngland，thecapitalisedbloodofchildren。
Asthenationaldebtfindsitssupportinthepublicrevenue，whichmustcovertheyearlypaymentsforinterest，&c。，themodernsystemoftaxationwasthenecessarycomplementofthesystemofnationalloans。
Theloansenablethegovernmenttomeetextraordinaryexpenses，withoutthetax—payersfeelingitimmediately，buttheynecessitate，as。aconsequence，increasedtaxes。Ontheotherhand，theraisingoftaxationcausedbytheaccumulationofdebtscontractedoneafteranother，compelsthegovernmentalwaystohaverecoursetonewloansfornewextraordinaryexpenses。Modernfiscality，whosepivotisformedbytaxesonthemostnecessarymeansofsubsistence（therebyincreasingtheirprice），thuscontainswithinitselfthegermofautomaticprogression。Over—taxationisnotanincident，butratheraprinciple。InHolland，therefore，wherethissystemwasfirstinaugurated，thegreatpatriot，DeWitt，hasinhis"Maxims"extolleditasthebestsystemformakingthewage—labourersubmissive，frugal，industrious，andoverburdenedwithlabour。Thedestructiveinfluencethatitexercisesontheconditionofthewage—labourerconcernsuslesshowever，here，thantheforcibleexpropriation，resultingfromit，ofpeasants，artisans，andinaword，allelementsofthelowermiddle—class。Onthistherearenottwoopinions，evenamongthebourgeoiseconomists。Itsexpropriatingefficacyisstillfurtherheightenedbythesystemofprotection，whichformsoneofitsintegralparts。
Thegreatpartthatthepublicdebt，andthefiscalsystemcorrespondingwithit，hasplayedinthecapitalisationofwealthandtheexpropriationofthemasses，hasledmanywriters，likeCobbett，Doubledayandothers，toseekinthis，incorrectly，thefundamentalcauseofthemiseryofthemodernpeoples。
Thesystemofprotectionwasanartificialmeansofmanufacturingmanufacturers，ofexpropriatingindependentlabourers，ofcapitalisingthenationalmeansofproductionandsubsistence，offorciblyabbreviatingthetransitionfromthemedievaltothemodernmodeofproduction。TheEuropeanstatestoreoneanothertopiecesaboutthepatentofthisinvention，and，onceenteredintotheserviceofthesurplus—valuemakers，didnotmerelylayundercontributioninthepursuitofthispurposetheirownpeople，indirectlythroughprotectiveduties，directlythroughexportpremiums。Theyalsoforciblyrootedout，intheirdependentcountries，allindustry，as，e。g。，Englanddid。withtheIrishwoollenmanufacture。OnthecontinentofEurope，afterColbert’sexample，theprocesswasmuchsimplified。Theprimitiveindustrialcapital，here，cameinpartdirectlyoutofthestatetreasury。
"Why，"criesMirabeau，"whygosofartoseekthecauseofthemanufacturinggloryofSaxonybeforethewar？180，000，000ofdebtscontractedbythesovereigns！"[9]
Colonialsystem，publicdebts，heavytaxes，protection，commercialwars，&c。，thesechildrenofthetruemanufacturingperiod，increasegiganticallyduringtheinfancyofModemIndustry。Thebirthofthelatterisheraldedbyagreatslaughteroftheinnocents。Liketheroyalnavy，thefactorieswererecruitedbymeansofthepress—gang。BlaséasSirF。M。Edenisastothehorrorsoftheexpropriationoftheagriculturalpopulationfromthesoil，fromthelastthirdofthe15thcenturytohisowntime;
withalltheself—satisfactionwithwhichherejoicesinthisprocess，"essential"forestablishingcapitalisticagricultureand"thedueproportionbetweenarableandpastureland"？hedoesnotshow，however，thesameeconomicinsightinrespecttothenecessityofchild—stealingandchild—slaveryforthetransformationofmanufacturingexploitationintofactoryexploitation，andtheestablishmentofthe"truerelation"betweencapitalandlabour—power;Hesays:"Itmay，perhaps，beworthytheattentionofthepublictoconsider，whetheranymanufacture，which，inordertobecarriedonsuccessfully，requiresthatcottagesandworkhousesshouldberansackedforpoorchildren;
thattheyshouldbeemployedbyturnsduringthegreaterpartofthenightandrobbedofthatrestwhich，thoughindispensabletoall，ismostrequiredbytheyoung;andthatnumbersofbothsexes，ofdifferentagesanddispositions，shouldbecollectedtogetherinsuchamannerthatthecontagionofexamplecannotbutleadtoprofligacyanddebauchery;willaddtothesumofindividualornationalfelicity？"[10]
"InthecountiesofDerbyshire，Nottinghamshire，andmoreparticularlyinLancashire，"saysFielden，"thenewly—inventedmachinerywasusedinlargefactoriesbuiltonthesidesofstreamscapableofturningthewater—wheel。
Thousandsofhandsweresuddenlyrequiredintheseplaces，remotefromtowns;andLancashire，inparticular，being，tillthen，comparativelythinlypopulatedandbarren，apopulationwasallthatshenowwanted。Thesmallandnimblefingersoflittlechildrenbeingbyveryfarthemostinrequest，thecustominstantlysprangupofprocuringapprenticesfromthedifferentparishworkhousesofLondon，Birmingham，andelsewhere。Many，manythousandsoftheselittle，haplesscreaturesweresentdownintothenorth，beingfromtheageof7totheageof13or14yearsold。Thecustomwasforthemastertoclothehisapprenticesandtofeedandlodgetheminan"apprenticehouse"nearthefactory;overseerswereappointedtoseetotheworks，whoseinterestitwastoworkthechildrentotheutmost，becausetheirpaywasinproportiontothequantityofworkthattheycouldexact。Crueltywas，ofcourse，theconsequence……Inmanyofthemanufacturingdistricts，butparticularly，Iamafraid，intheguiltycountytowhichIbelong[Lancashire]，crueltiesthemostheart—rendingwerepractisedupontheunoffendingandfriendlesscreatureswhowerethusconsignedtothechargeofmaster—manufacturers;theywereharassedtothebrinkofdeathbyexcessoflabour……wereflogged，fetteredandtorturedinthemostexquisiterefinementofcruelty;……theywereinmanycasesstarvedtothebonewhilefloggedtotheirworkand……eveninsomeinstances……weredriventocommitsuicide……ThebeautifulandromanticvalleysofDerbyshire，NottinghamshireandLancashire，secludedfromthepubliceye，becamethedismalsolitudesoftorture，andofmanyamurder。Theprofitsofmanufacturerswereenormous;butthisonlywhettedtheappetitethatitshouldhavesatisfied，andthereforethemanufacturershadrecoursetoanexpedientthatseemedtosecuretothemthoseprofitswithoutanypossibilityoflimit;theybeganthepracticeofwhatistermed"night—working，"thatis，havingtiredonesetofhands，byworkingthemthroughouttheday，theyhadanothersetreadytogoonworkingthroughoutthenight;theday—setgettingintothebedsthatthenight—sethadjustquilted，andintheirturnagain，thenight—setgettingintothebedsthattheday—setquiltedinthemorning。ItisacommontraditioninLancashire，thatthebedsnevergetcold。"[11]’