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78 race are conditioned on that extension of civilization of which capital is the prerequisite, and that he who has capital can participate in and move along with the highest developments of his time. Hence it appears that the man who has his self-denial before him, however good may be his intention, cannot be as the man who has his self-denial behind him. Some seem to think that this is very unjust, but they get their notions of justice from some occult source of inspiration, not from observing the facts of this world as it has been made and exists.

The maxim, or injunction, to which a study of capital leads us is, Get capital. In a community where the standard of living is high, and the conditions of production are favorable, there is a wide margin within which an individual may practise self-denial and win capital without suffering, if he has not the charge of a family. That it requires energy, courage, perseverance, and prudence is not to be denied. Any one who believes that any good thing on this earth can be got without those virtues may believe in the philosopher's stone or the fountain of youth. If there were