286 The Bedouins are fond of decorating their wives and children with all the jewels that they possess, both on holidays and other days, so that they sometimes have four or six bracelets on each arm and fifteen ear-rings in each ear. _Burckhardt_, Bemerkungen, 188. _Wellsted_ (Roederer’s translation), I, 224. In Asia Minor, girls wear their whole dowry in the shape of personal ornaments. _Belgiojoso_, Revue des deux Mondes, Feb. 1, 1855. In East India even the most wretched towns have their silver workers. The emirs of Scinde, with an annual income of £300,000, had a treasure worth £20,000,000, nearly £7,000,000 of which were in jewels. _Ritter_, Erdkunde VII, p. 185. On the upper Ganges more jewels and other ornaments are worn than on the lower, where the wealthy prefer to spend their capital on landed estates. _Ritter_, VI, 1143. 287 The first beginnings of this division are to be found in _Quesnay_ (Analyse du Tableau économique, 1758), in which he develops the difference between _avances primitives_ and _avances annuelles_. See also _Adam Smith_, W. of N., II, ch. 1, who, however, reduces the difference between them mainly to the relations of possession, and hence includes grain and seed in fixed capital. _Hermann_, Staatsw. Untersuch., 269 ff.; _Ricardo_, Principles, ch. 1, sec. 2; _Schmitt-henner_, Staatswissenschaften, I, 387, divides capital into I, _infungible_, that is, 1, fixed in the strict sense of the word; 2, transportation-capital; II, _fungible_, 1, transformable capital; a, material (raw material, auxiliary material etc.), b, formed products; 2, circulating capital; a, wares; b, money. _A. Walker_, S. of W., 57, calls circulating capital that which may be easily transferred from one branch of production to another; fixed, that which can be used with advantage only for the purpose for which it was originally intended. 288 Old wood-work is burned; old iron utensils sold; also houses when pulled down. _Emminghaus_, Allg. Gewerbelehre, 1868, 175. 289 If the Mongols, for instance, should despoil China of all its moveable property with the exception of its buried money, its immovable property would become productive only from the time that that money would be used to secure other moveable articles. In any case, the production would be proportioned only to the borrowed seed, cattle, etc. (_Sismondi_, Richesses commerciale, 1803, I, p. 61.)