178

POLITICAL  ECONOMY

for  capital  in  production,  as  we  have  discerned,
measures  the  marginal  worth  of  different
quantities  of  capital  in  production  ;  and,  in
order  to  reach  the  complete  demand  of  a
community  for  capital,  we  have  to  add  to  the
demand  for  production  what  may  be  called
the  demand  for  consumption.  The  demand
for  consumption  is  measured  by  the  value  to
individuals  of  accessions  to  their  present
supplies  of  wealth  when  they  have  tangible
expectations  to  pledge  as  security  for  loans.
The  supply  of  capital  is  governed  by  the  power
to  save  and  inducements  to  save.  Wealth
may  be  saved  for  a  variety  of  reasons.  People
may  practise  thrift  merely  for  the  sake  of
obtaining  interest  ;  but  all  saving  is  not  to  be
ascribed  to  a  desire  to  earn  interest.  Some
persons  are  saving  with  a  view  to  having  at
their  disposal  a  fund  through  the  agency  of
which  they  may  seize  any  opportunities  that
offer  for  the  advancement  of  their  worldly
interests  ;  and  all  persons,  except  the  most
improvident,  set  by  something  against  sickness,
accident  or  other  misfortune,  or  in  order  to
enable  them  to  meet  without  excessive  strain
future  obligations.  Much  of  the  provision
for  the  purposes  last  enumerated  is  effected
through  insurance  companies.  Further  the
accumulations  automatically  made  by  those