218 ON THE CAUSES

may, equally with the requisite quantity of la-
bour, be a consideration which influences the
mind in the interchange of useful or agreeable
articles. We generally prefer a present pleasure
or enjoyment to a distant one, not superior to it
in other respects. We are willing, even at
some sacrifice of property, to possess ourselves
of what would otherwise require time to pro-
cure it, without waiting during the operation ;
as of what would require labour, without
personally bestowing the labour. If any arti-
cle were offered to us, not otherwise attainable,
except after the expiration of a year, we should
be willing to give something to enter upon pre-
sent enjoyment. On the part of the capitalist,
who produces and prepares these articles, the
time required for the purpose is evidently a
consideration which acts upon his mind. If the
article is wine, he knows that the quality is im-
proved by keeping; he is aware that the same
excellence cannot be imparted to any wine,
without the employment of capital for an equal
period ; and that people will be found to give