fortunes, in their distinctively modern
form, is, as we have seen already, such and such forces of nature,
which, captured and embodied in machines and other appliances by the
masters of science and men of executive energy, and subsequently
directed by other men of cognate talents, supplement the efficiency of
ordinary human labour, thus yielding the surplus of which modern
fortunes are a part, the remainder forming a fund which diffuses itself
throughout the mass of the community. That part of the surplus which
constitutes such fortunes is interest; and now let us sum up what in
this and the previous chapter our examination of the criticisms directed
against interest has shown us.

In the first place, then, we saw that the theoretical attack on
interest, on the ground that it is income which is not earned by the
recipients, but is virtually taken by the few from the products of the
labour of the many, is chimerical in its moral and false in its economic
implications.

We saw, in the second place, coming down to the practical aspects of the
question, that interest is the only form in which the owners of capital
can enjoy their wealth at all, without drying up the sources from which
most modern wealth springs, thus bringing ruin to the community no less
than to themselves.

We saw, in the third place, that, quite apart from the welfare of the
community, interest constitutes, for the owners of wealth themselves,
the means of enjoying it which mainly makes it desirable, and the object
for the sake of which, at any given moment, the master spirits of
industry are engaged in producing and increasing it.

The reader must observe, however, that this conclusion is here stated in
general terms only. It has not been contended--for this question has not
been touched upon--that interest may not, when received in certain
amounts, be justifiably made the subject of some special taxation. Any
such question must be decided by reference to special circumstances,
and cannot be discussed apart from them. Nor has it been contended that,
within certain limits, the power of bequest is not susceptible of
modification without impairing the energies of the few or the general
prosperity of the many. The sole point insisted on here is this: that
any special tax on interest, or any tampering with the powers of
bequest, begins to be disastrous to all classes alike, if it renders,
and in proportion as it renders to any appreciable degree, the n