and drink." Had the system of exchange been less advanced, that is, had society been less civilized, he would probably have exchanged his labour for some object of utility, by another and a ruder mode. He would have received a portion of the coals as the price of the labour by which he gave an additional value to the whole heap. But mark the inconvenience of such a mode of exchange. His first want was food; his next, shelter: had he earned the coals, he must have carried them about till he had found some other person ready to exchange food and lodging for coals. Such an occurrence might have happened, but it would have been a lucky accident. He could find all persons ready to exchange food and clothes for money--because money was ready again to exchange for other articles of utility which they might require, and which they would more readily obtain by the money than by the food and clothes which our labourer had received for them. During the course of the unprofitable labour of waiting till he had found an exchanger who wanted coals, he might have perished. What then gave him the means of profitable labour, and furnished him with an article which every one was ready to receive in exchange for articles of immediate necessity? Capital in two forms. The heap of coals was capital. The coals represented a very great and various accumulation of former labour that had been employed in giving them value. The coals were altogether valueless till labour had been employed to raise them from the pit, and to convey them to the door of the man who was about to consume them. But with what various helps had this labour worked! Mere manual labour could have done little or nothing with the coals in the pit. Machines had raised them from the pit. Machines had transported them from the pit to the door of the consumer. They would have remained buried in the earth but for large accumulations of knowledge, and large accumulations of pecuniary wealth to set that knowledge in action by exchanging with it. The heap of coals represented all this accumulation; and it more immediately represented the Circulating Capital of consumable articles of utility, which had been paid in the shape of wages, at every stage of the labour exercised in raising the coals from the mine, and conveying them to the spot in which the prodigal found them laid. The coals had almost attained their highest value by a succession of labour; but one labour was still wanting to give them the highest value. They were at their lowest value when they remained unbroken in the coal-pit; they were at their highest value when they were deposited in the cellar of the consumer. For that last labour there was circulating capital ready to be exchanged. The man whose course of production we have been tracing imparted to them this last value, and for this labour he received a "few pence" and a "gratuity of meat and drink." These consumable commodities, and the