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　　　　And　if；　instead　of　sinking　him　in　the　sea　by　its　weight；　the



gold　had　struck　him　on　the　forehead；　and　thereby　caused　incurable



disease　　suppose　palsy　or　insanity；　　would　the　gold　in　that



case　have　been　more　a　〃possession〃　than　in　the　first？　Without



pressing　the　inquiry　up　through　instances　of　gradually　increasing



vital　power　over　the　gold　（which　I　will；　however；　give；　if　they



are　asked　for）；　I　presume　the　reader　will　see　that　possession；　or



〃having；〃　is　not　an　absolute；　but　a　gradated；　power；　and　consists



not　only　in　the　quantity　or　nature　of　the　thing　possessed；　but



also　（and　in　a　greater　degree）　in　its　suitableness　to　the　person



possessing　it　and　in　his　vital　power　to　use　it。



　　　　And　our　definition　of　Wealth；　expanded；　becomes：　〃The



possession　of　useful　articles；　which　we　can　use。〃　This　is　a　very



serious　change。　For　wealth；　instead　of　depending　merely　on　a



〃have；〃　is　thus　seen　to　depend　on　a　〃can。〃　Gladiator's　death；　on



a　〃habet〃；　but　soldier's　victory；　and　State's　salvation；　on　a



〃quo　plurimum　posset。〃　（liv。　VII。　6。）　And　what　we　reasoned　of



only　as　accumulation　of　material；　is　seen　to　demand　also



accumulation　of　capacity。



　　　　So　much　for　our　verb。　Next　for　our　adjective。　What　is　the



meaning　of　〃useful〃？



　　　　The　inquiry　is　closely　connected　with　the　last。　For　what　is



capable　of　use　in　the　hands　of　some　persons；　is　capable；　in　the



hands　of　others；　of　the　opposite　of　use；　called　commonly



〃from…use；〃　or　〃ab…use。〃　And　it　depends　on　the　person；　much　more



than　on　the　article；　whether　its　usefulness　or　ab…usefulness　will



be　the　quality　developed　in　it。　Thus；　wine；　which　the　Greeks；　in



their　Bacchus；　made　rightly　the　type　of　all　passion；　and　which；



when　used；　〃cheereth　god　and　man〃　（that　is　to　say；　strengthens



both　the　divine　life；　or　reasoning　power；　and　the　earthy；　or



carnal　power；　of　man）；　yet；　when　abused；　becomes　〃Dionysos；〃



hurtful　especially　to　the　divine　part　of　man；　or　reason。　And



again；　the　body　itself；　being　equally　liable　to　use　and　to　abuse；



and；　when　rightly　disciplined；　serviceable　to　the　State；　both　for



war　and　labour；　　but　when　not　disciplined；　or　abused；　valueless



to　the　State；　and　capable　only　of　continuing　the　private　or



single　existence　of　the　individual　（and　that　but　feebly）　　the



Greeks　called　such　a　body　an　〃idiotic〃　or　〃private〃　body；　from



their　word　signifying　a　person　employed　in　no　way　directly　useful



to　the　State；　whence　finally；　our　〃idiot；〃　meaning　a　person



entirely　occupied　with　his　own　concerns。



　　　　Hence；　it　follows　that　if　a　thing　is　to　be　useful；　it　must　be



not　only　of　an　availing　nature；　but　in　availing　hands。　Or；　in



accurate　terms；　usefulness　is　value　in　the　hands　of　the　valiant；



so　that　this　science　of　wealth　being；　as　we　have　just　seen；　when



regarded　as　the　science　of　Accumulation；　accumulative　of　capacity



as　well　as　of　material；　　when　regarded　as　the　Science　of



Distribution；　is　distribution　not　absolute；　but　discriminate；　not



of　every　thing　to　every　man；　but　of　the　right　thing　to　the　right



man。　A　difficult　science；　dependent　on　more　than　arithmetic。



　　　　Wealth；　therefore；　is　〃THE　POSSESSION　OF　THE　VALUABLE　BY　THE



VALIANT〃；　and　in　considering　it　as　a　power　existing　in　a　nation；



the　two　elements；　the　value　of　the　thing；　and　the　valour　of　its



possessor；　must　be　estimated　together。　Whence　it　appears　that



many　of　the　persons　commonly　considered　wealthy；　are　in　reality



no　more　wealthy　than　the　locks　of　their　own　strong　boxes　are；



they　being　inherently　and　eternally　incapable　of　wealth；　and



operating　for　the　nation；　in　an　economical　point　of　view；　either



as　pools　of　dead　water；　and　eddies　in　a　stream　（which；　so　long　as



the　stream　flows；　are　useless；　or　serve　only　to　drown　people；　but



may　become　of　importance　in　a　state　of　stagnation　should　the



stream　dry）；　or　else；　as　dams　in　a　river；　of　which　the　ultimate



service　depends　not　on　the　dam；　but　the　miller；　or　else；　as　mere



accidental　stays　and　impediments；　acting　not　as　wealth；　but　（for



we　ought　to　have　a　correspondent　term）　as　〃illth；〃　causing



various　devastation　and　trouble　around　them　in　all　directions；　or



lastly；　act　not　at　all；　but　are　merely　animated　conditions　of



delay；　（no　use　being　possible　of　anything　they　have　until　they



are　dead；）　in　which　last　condition　they　are　nevertheless　often



useful　as　delays；　and　〃impedimenta；〃　if　a　nation　is　apt　to　move



too　fast。



　　　　This　being　so；　the　difficulty　of　the　true　science　of



Political　Economy　lies　not　merely　in　the　need　of　developing　manly



character　to　deal　with　material　value；　but　in　the　fact；　that



while　the　manly　character　and　material　value　only　form　wealth　by



their　conjunction；　they　have　nevertheless　a　mutually　destructive



operation　on　each　other。　For　the　manly　character　is　apt　to



ignore；　or　even　cast　away；　the　material　value：　　whence　that　of



Pope：　



　　　　〃Sure；　of　qualities　demanding　praise；



　　　　More　go　to　ruin　fortunes；　than　to　raise。〃







And　on　the　other　hand；　the　material　value　is　apt　to　undermine　the



manly　character；　so　that　it　must　be　our　work；　in　the　issue；　to



examine　what　evidence　there　is　of　the　effect　of　wealth　on　the



minds　of　its　possessors；　also；　what　kind　of　person　it　is　who



usually　sets　himself　to　obtain　wealth；　and　succeeds　in　doing　so；



and　whether　the　world　owes　more　gratitude　to　rich　or　to　poor　men；



either　for　their　moral　influence　upon　it；　or　for　chief　goods；



discoveries；　and　practical　advancements。　I　may；　however；



anticipate　future　conclusions；　so　far　as　to　state　that　in　a



community　regulated　only　by　laws　of　demand　and　supply；　but



protected　from　open　violence；　the　persons　who　become　rich　are；



generally　speaking；　industrious；　resolute；　proud；　covetous；



prompt；　methodical；　sensible；　unimaginative；　insensitive；　and



ignorant。　The　persons　who　remain　poor　are　the　entirely　foolish；



the　entirely　wise；（22*）　the　idle；　the　reckless；　the　humble；　the



thoughtful；　the　dull；　the　imaginative；　the　sensitive；　the



well…informed；　the　improvident；　the　irregularly　and　impulsively



wicked；　the　clumsy　knave；　the　open　thief；　and　the　entirely



merciful；　just；　and　godly　person。



　　　　Thus　far；　then；　of　wealth。　Next；　we　have　to　ascertain　the





nature　of　PRICE；　that　is　to　say；　of　exchange　value；　and　its



expression　by　currencies。



　　　　Note　first；　of　exchange；　there　can　be　no　profit　in　it。　It　is



only　in　labour　there　can　be　profit　　that　is　to　say；　a　〃making



in　advance；〃　or　〃making　in　favour　of〃　（from　proficio）。　In



exchange；　there　is　only　advantage；　i。e。；　a　bringing　of　vantage　or



power　to　the　exchanging　persons。　Thus；　one　man；　by　sowing　and



reaping；　turns　one　measure　of　corn　into　two　measures。　That　is



Profit。　Another；　by　digging　and　forging；　turns　one　spade　into　two



spades。　That　is　Profit。　But　the　man　who　has　two　measures　of　corn



wants　sometimes　to　dig；　and　the　man　who　has　two　spades　wants



sometimes　to　eat：They　exchange　the　gained　grain　for　the　gained



tool；　and　both　are　the　better　for　the　exchange；　but　though　there



is　much　advantage　in　the　transaction；　there　is　no　profit。　Nothing



is　constructed　or　produced。　Only　that　which　had　been　before



constructed　is　given　to　the　person　by　whom　it　can　be　used。　If



labour　is　necessary　to　effect　the　exchange；　that　labour　is　in



reality　involved　in　the　production；　and；　like　all　other　labour；



bears　profit。　Whatever　number　of　men　are　concerned　in　the



manufacture；　or　in　the　conveyance；　have　share　in　the　profit；　but



neither　the　manufacture　nor　the　conveyance　are　the　exchange；　and



in　the　exchange　itself　there　is　no　profit。



　　　　There　may；　however；　be　acquisition；　which　is　a　very　different



thing。　If；　in　the　exchange；　one　man　is　able　to　give　what　cost　him



little　labour　for　what　has　cost　the　other　much；　he　〃acquires〃　a



certain　quantity　of　the　produce　of　the　other's　labour。　And



precisely　what　he　acquires；　the　other　loses。　In　mercantile



language；　the　person　who　thus　acquires　is　commonly　said　to　have



〃made　a　profit〃；　and　I　believe　that　many　of　our　merchants　are



seriously　under　the　impression　that　it　is　possible　for　everybody；



somehow；　to　make　a　profit　in　this　manner。　Whereas；　by　the



unfortunate　constitution　of　the　world　we　live　in；　the　laws　both



of　matter　and　motion　have　quite　rigorously　forbidden　universal



acquisition　of　this　kind。　Profit；　or　material　gain；　is　attainable



only　by　construction　or　by　discovery；　not　by　exchange。　Whenever



material　gain　follows　exchange；　for　every　plus　there　is　a



precisely　equal　minus。



　　　　Unhappily　for　the　progress　of　the　science　of　Political



Economy；　the　plus　quantities；　or；　　if　I　may　be　allowed　to　coin



an　awkward　plural　　the　pluses；　make　a　very　positive　and



venerable　appearance　in　the　world；　so　that　every　one　is　eager　to



learn　the　science　which　produces　results　so　magnificent；　whereas



the　minuses　have；　on　the　other　hand；　a　tendency　to　retire　into



back　streets；　and　other　places　of　shade；　　or　even　to　get



themselves　wholly　and　finally　put　out　of　sight　in　graves：　which



renders　the　algebra　of　this　science　peculiar；　and　difficultly



legible；　a　large　number　of　its　negative　signs　being　written　by



the　account…keeper　in　a　kind　of　red　ink；　which　starvation　thins；



and　makes　strangely　pale；　or　even　quite　invisible　ink；　for　the



present。



　　　　The　Science　of　Exchange；　or；　as　I　hear　it　has　been　proposed



to　call　it；　of　〃Catallactics；〃　considered　as　one　of　gain；　is；



therefore；　simply　nugatory；　but　considered　as　one　of　acquisition；



it　is　a