Page:Collier's New Encyclopedia v. 02.djvu/393

LEFT CAPITAL PUNISHMENT 339 CAPITOL lated into present values by discount- ing. With these data he may derive the value of any capital from the value of its income by means of the connecting link between them called the rate of interest. This derivation of capital value from income value is called "cap- italizing" income. Savings in its broadest sense includes more than simply saved money. It in- cludes all the net increase in capital value after all income has been detached. It is the net appreciation, or the differ- ence between the interest accrued and the income taken out. Savings are therefore still a part of capital. They are the part of capital saved from being taken out for income. They are not a part of income taken out. The indi- vidual is always struggling between sav- ing more capital and taking out more income. He cannot do both — have his cake and eat it, too. To recapitulate, in a few words, the nature of capital and income, we may now say that those parts of the material universe which at any time are under the dominion of man, constitute his capi- tal wealth; its ownership, his capital property; its value, his capital value. Capital value implies anticipated in- come, which consists of a stream of bene- fits or its value. When values are con- sidered, the causal relation is not from capital to income, but from income to capital; not from present to future, but from future to present. In other words, the value of capital is the discounted value of the expected income. CAPITAL PUNISHMENT, in crimi- nal jurisprudence the punishment of death (Lat, capitis poena). This ex- )treme penalty, notwithstanding the prac- tice of the world from the remotest times down to the present day, has frequently been reprobated by philosophers and philanthropists, who have even gone so far as to deny the right so to punish to any earthly power. In the United States, each State has jurisdiction over its own territory, and the laws punishing crime differ in several respects. In many of the States murder is by statute divided into different degrees, differing from each other by the malice and premedita- tion which accompany the act. Death by hanging, or electrocution, is the usual penalty for murder of the first degree, but in a few States imprisonment for life is substituted for capital punishment. For the various methods of execution, see Execution. CAPITALS, the large letters used in writing and printing, most commonly as the initial letters of certain words. As among the ancient Greeks and Romans, so also in the early part of the Middle Ages, all books were written without any distinction in the kind of letters, large letters (capitals) being the only ones used; but gradually the practice became common of beginning a book, subse- quently also the chief divisions and sec- tions of a book, with a large capital let- ter, usually illuminated and otherwise richly ornamented. CAPITATION-TAX, a tax or impost upon each head or person. A tax of this kind existed among the Romans, but was first levied in England in 1380, oc- casioning the rebellion under Wat Tyler. It was again levied in 1513, and by Charles II. in 1667, after which it re- mained in force till abolished by William III. in 1689. CAPITOL (Lat. capitolium, from caput = a head); said to have been so called from a human head (caput) found when digging the foundations of the fortress of Rome, on the hill Tarpeius. Here a temple was built to Jupiter Capi- tolinus. The foundation was laid by Tarquinius Priscus, 616 B. C; the build- ing was continued by Servius TuUius; completed by Tarquinius Superbus, but not dedicated till 507 B. C, by the consul Horatius. It was destroyed by lightning, 183; burnt during the civil wars, 83; rebuilt by Sylla, and dedicated again by Lutatius Catulus, 69; twice again burnt A. D. 69, 80; rebuilt 70, 82; sacked by Genseric, June, 455. The Roman consuls made large donations to this temple, and the Emperor Augustus bestowed on it 2,000 pounds weight of gold, of which metal the roof was composed; its thresholds were of brass, and its interior was decorated with shields of solid silver. The Capitoline games, instituted 387 B. C. to commemorate the deliverance from the Gauls, were revived by Domitian, A. D. 86. The Campidoglio in Rome con- tains palaces of the senators, erected on the site of the Capitol by Michael An- gelo soon after 1546. The word is also applied to the building in which the Con- gress of the United States meets. The National Capitol. — The S. E. cor- ner-stone of the Capitol was laid Sept- 18, 1793, "by Brother George Washing- ton, assisted by the Worshipful Masters and Free Masons of the surrounding cities, the military, and a large number of people." The N. wing was ready for occupancy in 1800, the S. wing in 1808; but both were partially destroyed by the British in 1814. The foundation of the main building was laid in 1818 (March 24), the restoration of the wings having been commenced three years earlier; and