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xxvi in fireworks fifty years ago, and of a Government paying interest on money to be employed to-day on productive labour.

That difference, which the reader will find stated and examined at length, in §§ 127-129 of this volume, it is the business of economists, before approaching any other question relating to government, fully to explain. And the paragraphs to which I refer, contain, I believe, the only definite statement of it hitherto made.

19. The practical result of the absence of any such statement is, that capitalists, when they do not know what to do with their money, persuade the peasants, in various countries, that the said peasants want guns to shoot each other with. The peasants accordingly borrow guns, out of the manufacture of which the capitalists get a per-centage, and men of science much amusement and credit. Then the peasants shoot a certain number of each other, until they get tired; and burn each other's homes down in various places. Then they put the guns back into towers, arsenals, etc., in ornamental patterns; (and the victorious party put also some ragged flags in churches). And then the capitalists tax both, annually,