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causes than one, or at least to one cause which presents itself under
different aspects. Such is the case with interest. Its origin, its
functions, and its justification, in the modern world, must be
considered under an aspect, at which hitherto we have only glanced.

Throughout the present discussion we have been assuming that the
questions at issue turn ultimately on the character of human motive. On
both sides it has been assumed that men of exceptional powers will not
produce exceptional amounts of wealth, unless they are allowed the right
of enjoying some substantial proportion of it. This is a psychological
truth which, together with its social consequences, has been dealt with
elaborately in two of our earlier chapters. It was there shown that the
production of exceptional wealth by those men whose peculiar powers
alone enable them to produce it, involves efforts on their part which,
unlike labour, cannot be exacted of them by any outside compulsion, but
can only be educed by the prospect of a secured reward; and that this
reward consists, as has just been said, of the enjoyment of a part of
the product proportionate to the magnitude of the whole. But what the
proportion should be, and in what manner it should be enjoyed, were
questions which were then passed over. They were passed over in order
that they might be discussed separately. It was pointed out, however,
that the reward, in order to be operative, must be such as will be felt
to be sufficient by these men themselves, and that its precise amount
and quality can be determined by them alone--just as, if what we desire
is to coax an invalid to eat, we can coax him only with food which he
himself finds appetising. Let us now take these questions up again, and
examine them more minutely, and we shall find that interest is justified
from a practical point of view by the fact that the enjoyment of capital
by this particular means is not only the sole manner of enjoying it
which is consistent with the general welfare, but also constitutes the
advantage which, in the eyes of most great producers, gives to capital
the larger part of its value, and renders the desire of producing it
efficient as a social motive.

The reasons why the right to interest forms, in the eyes of the active
producers of capital, the main object of their activity are to be found,
firstly, in the facts of family affection, and, secondarily, in those of
general social intercourse, which tog