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cost him many hours or days； but with a sawmill he could do it in
a few minutes。 Every man must admit that by means of instruments
and machines the labourer can execute tasks he could not possibly
perform without them； that he can perform a greater quantity of
work in a given time； and that he can perform the work with
greater nicety and accuracy than he could possibly do had he no
instruments and machines。 But the question then occurs； what
produces instruments and machines； and in what degree do they aid
production independent of the labourer； so that the owners of
them are entitled to by far the greater part of the whole produce
of the country？ Are they； or are they not； the produce of labour？
Do they； or do they not； constitute an efficient means of
production； separate from labour？ Are they； or are they not； so
much inert decaying and dead matter； of no utility whatever；
possessing no productive power whatever； but as they are guided；
directed and applied by skilful hands？ The reader will be able
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