6
Capital was produced at a certain stage in the production of commodities, of course upon the basis of private property, which, as we know, forms the basis of the entire production of commodities. But under the influence of capital private property assumed a new feature, in fact, an additional feature. Besides the petty bourgeois feature, which was in accord with the conditions of petty enterprise, it displayed also a capitalist feature. The defenders of present private property point only to its petty bourgeois feature, and yet it would be blindness to overlook to-day the capitalist feature of private property.
At the stage of economic development with which we are now dealing, when capital was only merchants' and usurers' capital, there were but few features of that capitalist physiognomy visible, but these are worthy of remark.
The income of the peasant or petty handicraftsman under the reign of petty enterprise depended primarily upon his individuality and that of the other members of his family, upon his industry, skill, etc. On the other hand, the amount of the merchant's profit depended upon the money he had for purchasing commodities and the commodities he possessed for sale. If one sells £10,000 worth of tobacco, one's profit, other things being equal, will be 100 times larger than if one sells only £100 worth. The same applies to the usurer. Hence the income of the capitalist, as a capitalist, depends mainly upon the amount of capital he possesses.
The labour power and capacity of the individual are limited, as is also the amount of products a workman is able to create under certain circumstances. It cannot exceed to any degree a certain average. Money, however, can be accumulated to any amount, to that there is no measurable limit. The more money one has, the more accumulates when it is used as capital. Thus the possibility of acquiring immeasurable riches exists.
But private property produced yet another possibility. Private property in the means of production implies the lawful possibility for everybody to acquire such and also the possibility of losing it, that is to say, of losing the source of their existence, and thus sinking into abject poverty. Usurers' capital already presupposes want. He who possesses what he requires will not borrow. By exploiting the helpless position of the necessitous, usurers' capital becomes the means of precipitating want.
The acquisition of wealth in idleness, the immeasurable riches of some, the abject poverty of others, are features perceptible in the capitalist physiognomy of private property. But they were hidden as long as merchants' and usurers' capital were in the first stage of development. The worst feature—poverty—became apparent to but a small degree, the lack of property remaining the exception and not the condition of large numbers of the people.
There were other exploiters, besides the merchant and usurer, as for instance, the feudal lord in the middle ages with whom we cannot deal here without diverting too far from our subject. And all those exploiters, the merchant and usurer included, were dependent upon the existence and success of petty enterprise in town and country. The proverb, that if the peasant had money, everybody had money, still held good. Commerce did not destroy petty enterprise, but sometimes even extended it. The usurer whilst draining his debtor of his resources, had no interest in absolutely ruining him. Poverty—the loss of the means of production—did not appear as a regular social phenomenon, but as a particular misfortune caused by an exceptional calamity or exceptional incapacity. Poverty in such cases was regarded as a divine trial, or as the punish-
