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instantly to answer these questions； and I only add my answers
because they lead to some conclusions different from those
generally adopted。
It is admitted by those who contend most strenuously for the
claims of capital that all instruments and machines are the
produce of labour。 They add； however； that they are the produce
of previous labour； and are entitled to profit； on account of
having been saved or stored up。 But the manufacture of
instruments and tools is quite as uninterrupted as the
manufacture of food and clothing。 They are not all consumed or
used within a year； but they are brought into use as soon as
possible after they are made。 Nobody who manufactures them stores
them up； nor does he make them for this purpose。 As long as they
are merely the result of previous labour； and are not applied to
their respective uses by labourers； they do not repay the expense
of making them。 It is only when they are so applied that they
bring any profit。 They are made solely for the use of the
labourer； and directly they come into his hands they return or
repay the capitalist； the sum they cost him； and over and above
this the labourer must give him an additional sum corresponding
to the rate of profit in the country。 It is plainly not the
previous creation of these things which entitles them to profit；
for most of them diminish in value from being kept。 A man must
pay also as much profit for the use of an instrument in
proportion to the labour of making it； whether it be like sewing
needles； of which many are used and made in the course of a week；
or like a ship； or a steam engine； one of which lasts several
years。 Fixed capital does not derive its utility from previous；
but present labour； and does not bring its owner a profit because
it has been stored up； but because it is a means of obtaining a
command over labour。
The production of fixed capital cannot be attributed to
circulating capital； in the ordinary sense； but certainly those
who make instruments must be confident they will be able to
obtain food； or they would never think of making instruments。 The
smith； while he is making or mending the farmer's ploughshare；
trusts to the farmer to do his part in procuring a supply of
food； and the farmer； while he tills his fields； trusts to the
smith to prepare for him the necessary instruments。 These
instruments are not the produce of circulating capital and of
labour； but of labour alone； and of the labour of two or more
co…existing persons。 All fixed capital； not only in the first
instance； as is generally admitted； but in every stage of
society； at every period in the history of man； is the creation
of labour and of skill； of different species of labour and skill
certainly； but of nothing more than labour and skill。
After any instruments have been made； what do they effect？
Nothing。 On the contrary； they begin to rust or decay unless used
or applied by labour。 The most perfect instrument which the
cunning hand of man can make is not instinct with life； and it
constantly needs the directing hand of its creator； or of some
other labourer。 An artist may indeed make an automaton； or a
timepiece； which will move for a certain period without further
labour； but the motion he gives it is； in this case； the final
object and aim of labour； and the instruments are not called
fixed capital； because they are not used for further production。
The automaton may be exhibited by its owner for money； and the
timepiece； if employed to determine the longitude of a ship； may
be a portion of fixed capital； useful in that production which is
occasioned by commerce。 In this case； however； there is an
observer required； and it is by his labour and skill； he making
use of the timepiece； that the ship's place is ascertained。
Whether an instrument shall be regarded as productive capital or
not depends entirely on its being used； or not； by some
productive labourer。
The most perfect instruments ever made by labour require； as
in the case of a timepiece； a peculiar skill to render them
productive。 A ship； for example； is undoubtedly a noble
instrument； as admirable and useful a portion of fixed capital as
the hand of man ever created； or his skill ever employed。 By it
the wealth of Great Britain has been and will be augmented。 But
our navy would lie and rot unless care were taken to preserve it；
and the ships when turned adrift would be bruised by the waves；
the winds or the rocks unless they were guided by seamen。 By the
skill acquired during many years' experience； and by much labour
guided by this skill； a ship is built。 It would trouble me to
enumerate the various species of industry which are necessary to
prepare her for sea。 There is the skill and labour of the
draughtsman； of the working shipwright； of the carpenter； the
mast maker； the sail maker； the cooper； the founder； the smith；
the coppersmith； the compass maker； etc。； etc。； but there is
nothing necessary more than the skill and labour of these
different persons。 After she is made ready the same qualities
watch over her； check the first indications of decay； and repair
every little defect occasioned by accident and time。 She is then；
however； of no use unless there are seamen to manage her。 To
conduct her safely from port to port； and from hemisphere to
hemisphere； a great deal of knowledge of the winds and tides； of
the phenomena of the heavens； and of the laws which prevail on
the surface of the earth； is necessary； and only when this
knowledge is united with great skill； and carried into effect by
labour； can a ship be safely conducted through the multitudes of
dangers which beset her course。 To have and to use this fixed
capital； knowledge； labour and skill are necessary。 Without these
it could not be made； and when it would be less productive than
the clod from which its materials spring； or from which they are
fashioned by the hand of man。
A road is made by a certain quantity of labour； and is then
called fixed capital； the constant repairs it needs； however； are
a continual making； and the expense incurred by them is called
circulating capital。 But neither the circulating nor the fixed
capital return any profit to the road makers unless there are
persons to travel over the road or make a further use of their
labour。 The road facilitates the progress of the traveller； and
just in proportion as people do travel over it； so does the
labour which has been employed on the road become productive and
useful。 One easily comprehends why both these species of labour
should be paid why the road maker should receive some of the
benefits accruing only to the road user； but I do not comprehend
why all these benefits should go to the road itself and be
appropriated by a set of person who neither make nor use it；
under the name of profit for their capital。 One is almost tempted
to believe that capital is a sort of cabalistic word； like Church
or State； or any other of those general terms which are invented
by those who fleece the rest of mankind to conceal the hand that
shears them。 It is a sort of idol before which men are called
upon to prostrate themselves； while the cunning priest from
behind the altar； profaning the God whom he pretends to serve；
and mocking those sweet sentiments of devotion and gratitude； or
those terrible emotions of fear and resentment； one or the other
of which seems common to the whole human race； as they are
enlightened and wise； or ignorant and debased； puts forth his
hand to receive and appropriate the offerings which he calls for
in the name of religion。
A steam engine also is a most complete instrument； but alas！
for the capitalist； it does not go of itself。 A peculiar skill is
required to make it and put it up； and peculiar skill and labour
must afterwards direct and regulate its movements。 What would it
produce without the engineer？ To the stranger who did not possess
the engineer's skill； only misery； death and destruction。 Its
vast utility does not depend on stored up iron and wood； but on
that practical and living knowledge of the powers of nature which
enables some men to construct； and others to guide it。
If we descend to more minute instruments； and consider such
as are guided by the hand； the necessity of skill and labour； and
the utter worthlessness of capital by itself； will be still more
obvious。 It has been asked； what could a carpenter effect without
his hatchet and his saw？ I put the converse of the question； and
ask what the hatchet and saw could effect without the carpenter。
Rust and rottenness must be the answer。 A plough or a scythe may
be made with the most cunning art； but to use either of them a
man must have a droit turn of the hand； or a peculiar species of
skill。 The shoemaker who can thrust awls through leather with
singular dexterity and neatness cannot make any use of a
watchmaker's tools； and the most skilful and dexterous maker of
plane； saw and chisel blades would find it difficult to construct
with them any of that furniture which the cabinet maker forms
with so much dispatch and beautiful effect。 Almost every species
of workman； however； from having acquired a certain d