_ 265 Temple_ learned from the Dutch of his own age that the time of industrious men is the greatest home commodity of a country. (Works I, 129.) “A trader’s time is his bread.” (_Sir M. Decker_, Essay on the Decline etc., 1744, 24.) _Walpole_, in his Testament politique II, 385, speaks of the inferiority of the Roman Church in this respect. I would allude to the medieaval prohibition “to sell time” as one of the chief grounds of the prohibition of usury. (See _Roscher_, Gesch. der N. Œk. in Deutschland, 7.) _Economia di tempo equivale a prolungamento di esistenza._ (_Soialeja._) _ 266 Douville_, Voyage au Congo I, 239. See _v. Haxthausen_, Studien, II, 439; _W. Jacob_, Production and Consumption of the precious Metals, II, 209. The division of the day into hours dates from the time of the sun dials of Alexandria. It was not known in Rome until after the year of the city 491. (_Mommsen_, Römische Geschichte, I. 301.) _ 267 Pinckard_, Notes on the West Indies, 1806, II, 107. In Spain it looks as if no one in the streets was in a hurry. What a contrast between the _sans souci_ gait of persons at bathing places and the resorts of pilgrims and the precipitate haste in commercial centres! _ 268 Meyendorff_, Voyage à Boukhara, 246. 269 The history of this idea affords a remarkable example of the confusion produced by the employment of scientific terminology in daily life. Until within a short time every possible meaning of the word _capital_ was to be found in the dictionary of the French Academy, its scientific politico-economical meaning alone excepted. During the middle ages, the Latin _capitale_ was used to signify both loaned money and cattle. (_Ducange_, s.v.) When culture was at its highest in Greece, _Demosthenes_ entertained very good ideas of the nature of capital which he sometimes calls ἀφορμὴ, sometimes ἔρανος, the meaning of which he extends also to the incorporeal capital of a good reputation. (Adv. Mid., 574; pro Phorm, 947.) The same may be said of the Roman in conception of _peculium_. See _Hildebrand’s_ Jahrbb., 1866, I. 338. On the beginnings of the present idea of capital among the later schoolmen, see _Funck_, Tübinger Ztschr., 1869, 149. The diary of _Lucas Rems_, 1491-1541 (ed. _Greiff_, 1861), calls commercial capital, in most instances, the chief good (_Hauptgut_) p. 37; also _Cavedal_. The words money and capital, interest and the price of money are now confounded in daily life, as they were formerly by most writers. In the 17th century, _Child_ and _Locke_ may be mentioned as instances. _Hobbes_ had some faint notion of the productive power of capital. See _Roscher_, Zur Geschichte der englischen Volkswirthschaftslehre, 49, 60, 102. Thus, also, in the 18th century, _Law_, Sur l’Usage des