does　not　stop　till　his　ten　thousand　pounds　are　done；　and　he　no　longer　has　new　sums　to　employ　in　the　operation。　If　it　be　then　asked　why　he　stops；　he　will　answer；　like　the　workman；　that　money　is　wanting；　that　money　does　not　circulate。　　　　　It　is　not；　however；　money　which　is　then　wanting　any　more　than　in　the　former　case；　it　is　consumption；　or　the　consumer's　revenue。　On　commencing　his　manufacture；　the　capitalist　studied　to　adjust　it　to　the　demand；　and　he　reckoned　that　as　soon　as　his　cloths　should　be　ready；　they　would　be　purchased　by　consumers；　whose　money；　the　sign　of　their　revenue；　would　replace　his　capital；　and　become　the　sign　of　subsistence　to　new　workmen；　to　whom　he　would　pay　new　wages。　It　is　not　money　which　the　consumer　is　in　want　of；　but　revenue。　Some　have　had　inferior　harvests　this　year；　some　have　gained　a　smaller　interest　on　their　capitals；　a　smaller　share　on　the　annual　re…production　of　the　fruits　of　industry；　others；　who　have　no　income　but　what　arises　from　their　labour；　have　not　found　employment；　or　else　the　whole　three　classes　are　not　poorer　than　they　were；　but　the　manufacturer　had　imagined　them　to　be　richer；　and　regulated　his　production　according　to　an　income　which　does　not　exist。　　　　　Income；　of　which　we　have　seen　all　the　different　sources　in　the　second　chapter；　is　a　material　and　consumable　thing；　it　springs　from　labour；　it　is　destined　for　enjoyment；　it　is　exactly　of　the　same　nature　with　the　advances　in　wages　and　raw　material　laid　out　by　the　manufacturer；　and　money　is　but　the　sign　and　the　measure　of　it。　The　capital　it　should　replace　is　also　composed　of　material　objects；　destined　for　consumption；　and　incessantly　renewed。　Money　serves　but　to　represent　it；　and　always　forms　the　smallest　part　of　each　merchant's　funds。　We　have　supposed　the　cloth…maker　to　possess　100；000　l。；　but；　it　half　this　sum　is　employed　in　fixed　capitals；　it　will　be　sufficient；　if　his　sale　amount　weekly　to　1200　l。　to　give　him；　in　the　shape　of　interest　and　profit；　20　per　cent。　on　his　circulating　capital；　and　to　allow　1000　l　weekly；　in　money；　to　maintain　an　annual　production　of　60；000　l。；　so　that　he　never　possesses　in　cash　more　than　the　fiftieth　part　of　his　circulating　capital。　　　　　An　increase　of　the　national　capitals　is　the　most　powerful　encouragement　of　labour；　either　because　this　augmentation　presupposes　an　augmentation　of　income；　and；　consequently；　of　means　of　consumption；　or　because　these　capitals；　not　being　profitable　to　their　proprietor；　except　as　they　are　employed；　each　capitalist　incessantly　endeavours　to　create　new　production　by　their　means。　In　distributing　them　to　his　workmen；　he　gives　to　those　workmen　revenue　which　enables　them　to　purchase　and　consume　the　preceding　year's　production；　and　he　sees　those　capitals　return　increased　by　the　revenue；　which　he　is　to　expect　from　them　in　the　following　year's　production。　But　though　he　distributes　and　afterwards　recovers　them；　by　means　of　the　circulating　medium；　which　serves　for　all　exchanges；　it　is　not　the　circulating　medium　which　forms　the　essential　requisite　in　his　operation。　The　same　cloth…maker；　labouring　each　year　on　an　equal　quantity；　sends　2400　pieces　of　cloth　to　the　market；　which　have　been　valued　at　60；000　l。　or　25　l。　a　piece。　He　exchanges　400　pieces　for　such　objects　of　consumption　as　are　needed　to　supply　the　wants；　the　enjoyments；　the　luxuries　of　himself　and　family。　He　exchanges　2000　pieces　for　the　raw　materials；　and　the　labour　which；　within　the　year；　are　to　re…produce　an　equal　quantity；　and　thus　next　year；　and　every　following　year；　he　will　have；　as　before；　2400　pieces　to　exchange　on　the　same　conditions。　His　capital；　equally　with　his　revenue；　is　actually　in　cloths；　not　in　money；　and　the　perpetual　result　of　his　commerce　is　to　exchange　cloth　against　cloth。　　　　　If　the　consumption　of　cloth　is　increased；　if　by　this　means　his　trade；　in　place　of　comprehending　2400　pieces　annually；　comprehends　3000；　more　labour　will；　no　doubt；　be　ordered　by　him；　and　executed　by　his　workmen；　but　if　the　money　alone　is　increased；　and　not　the　consumption　or　the　income　which　determines　it；　labour　and　production　cannot　increase。　Let　us　take　separately　each　one　of　his　customers；　as　he　calls　them。　There　is　not　one　of　them　who　does　nor　levy　a　greater　or　a　smaller　portion　of　his　income　in　kind；　but　all　may　arrange　matters　so　as　to　receive　the　whole　of　it　in　money。　They　are　not；　however；　more　rich　on　this　account；　they　will　not　be　at　more　expense；　they　will　not　buy　more　cloth　from　him；　and　this　trade　will　experience　no　kind　of　augmentation。　What　happens　to　individuals　may　equally　happen　to　nations。　The　revenue　of　a　country　or　the　sum　total　of　profits　arising　from　the　different　kinds　of　labour；　amounted；　we　shall　say；　last　year；　and　this　year；　to　fifty　millions；　but　last　year　the　country　levied　all　its　profit　in　goods；　in　merchandise　destined　for　its　consumption；　this　year；　from　some　mercantile　circumstance；　some　arrangement　of　exchanges；　it　has　levied　the　fourth；　the　third　part；　in　money　imported　through　the　frontiers。　It　is　neither　richer　nor　poorer；　for　this　alteration；　its　consumption　will；　as　formerly；　be　fifty　millions；　and　with　regard　to　the　money　imported；　apparently　its　industry　required　this　money；　otherwise　it　will　be　again　exported。　To　increase　the　circulating　medium　of　a　country；　without　increasing　its　capital；　without　increasing　its　revenue；　without　increasing　its　consumption　is　to　do　nothing　for　its　prosperity；　nothing　for　the　encouragement　of　labour。　　　　　Since　no　labour　can　be　accomplished　without　a　capital　to　set　it　in　motion；　since　no　re…production　of　wealth　can　take　place　without　raw　materials　for　the　work；　and　subsistence　for　the　workmen；　it　follows　that　the　furnisher　of　those　wages　and　materials　has　taken　the　most　intimate　share　in　the　re…production；　he　is；　in　a　great　degree；　the　author　of　its　profits；　and　has　the　most　evident　right　to　participate　in　them。　But　he　who　lends　a　capital　lends　nothing　else　but　those　wages　and　raw　materials　represented　by　money。　He　lends　a　thing　eminently　productive；　or　rather　the　only　one　which　is　productive；　for　since　all　wealth　proceeds　from　labour；　and　all　labour　is　put　in　motion　by　its　wage；　he　lends　labour　itself；　or　the　first　cause　of　production　in　all　kinds　of　wealth。　Hence；　whenever　an　odious　sense　has　been　attached　to　the　word　usury；　meaning　by　it　any　kind　of　interest　paid　for　the　use　of　a　sum　of　money；　under　pretext　that　as　money　produced　no　fruit；　there　could　be　no　lawful　share　of　profit　where　there　was　no　profit；　in　this　case；　an　absurd　distinction　has　been　formed。　There　was　just　as　much　reason　to　prohibit　the　renting　of　land；　or　the　wages　of　labour；　because　without　a　capital　to　put　land　and　labour　in　exercise；　both　would　remain　unfruitful。　　　　　Theologians；　however；　were　right　in　saying　that　gold　and　silver　were　barren　by　nature：　they　are　barren　so　long　as　kept　in　their　own　shape；　they　cease　to　be　barren；　the　instant　they　become　the　sign　of　another　kind　of　wealth；　which　is　emphatically　productive。　Theologians；　if　they　determined　to　abide　by　the　single　principle　on　which　their　prohibition　was　founded；　should　have　been　contented　with　declaring　usury　criminal；　every　time　the　lender　obliged　the　borrower　to　keep　the　deposit　in　its　primary　form；　locked　up　in　a　strong　box；　from　the　moment　of　borrowing　to　that　of　payment。　For　it　is　quite　certain　that　money；　whilst　locked　up；　produces　no　fruit；　and　neither　borrower；　nor　lender　can　get　good　of　it　except　by　parting　with　it。　　　　　But；　if　money　is　of　itself　barren；　it　produces　no　fruit　but　in　so　far　as　it　is　the　sign　of　other　values；　then　it　is　evident　that　no　good　can　be　done　by　multiplying　the　sign　and　not　the　thing。　It　is　true；　if　you　multiply　the　sign　in　a　single　country；　you　give　this　country　the　means　of　commanding　the　thing；　provided　that　thing　be　found　in　any；　country。　but　when　you　multiply　the　sign　in　all　countries　at　once；　you　do　nothing　for　any。　At　present；　there　exists　such　a　proportion　between　the　sign　and　the　thing；　that　a　pound　sterling　is　worth　a　bag　of　corn；　but　if；　by　the　stroke　of　a　magic　rod；　you　should　instantly　double　all　the　money　in　the　world；　since　every　thing　to　be　obtained　in　exchange　would　continue　the　same；　two　pounds　in　place　of　one　would　be　required　to　represent　a　bag　of　corn。　The　quantity　of　corn　consumed　by　a　workman；　in　food；　would　not　be　altered；　consequently　his　wage　must　be　doubled。　With　twice　as　many　guineas；　exactly　the　same　work　would　be　done；　and　nothing　would　be　changed　but　names　and　numbers。　　　　　Capitalists　require　their　capital　to　be　employed；　that　it　may　gain　a　revenue；　and　hence　they　offer　it　for　a　certain　price；　to　such　as　wish　to　cause　labour；　workmen；　on　the　other　hand；　and　those　who　employ　workmen；　have　need　of　capital　for　their　labour；　and；　after　reckoning　up　the　profit　expected　from　it；　they　offer　a　certain　share　of　their　advantage　to　capitalists。　The　necessities　of　money…lenders　and　of　money…borrowers；　come　thus　to　a　state　of　equilibrium　in　all　markets；　those　classes　of　men　agree　upon　a　medium　rate。　The　regulator　of　their　bargain　is　always　the　quantity　of　labour　required　by　consumers；　compared　with　the　quantity　of　capital；　representing　raw　materials　and　wages；　to　be　disposed　of　in　executing　this　labour。　If　the　want　is　great；　and　the　means　of　labour　small；　the　interest　of　money　will　be　considerable；