94 NATURE OF CAPITAL AND INCOME  [Cmar. VI

which were obtained by the method of balances before
the railroad was introduced into the discussion. The
totals will stand as follows P—

X’s capital balance . . . . . . . $ 70,000
Y Scapitalbalance , . . . J. 40,000
Z's capital balanee “on Wu he 80,000
R.R. Co.'s capital balance . , . , . 000
$190,000

When we apply the method of couples, however, we
find that the inclusion of the railway company’s capital
 account will affect the items in the final sum. The
stocks and bonds, as assets of X,Y, and Z, will now pair off
with the corresponding liabilities of the railroad company
and their place will be taken by the concrete railroad itself,
as follows: —

MeTrHOD OF COUPLES

Besideioe>'..:0, 0 oc ai 870 ,000
Personal Beets . 0. =... . = . 20,000
Farm oh ae dE EL EEE J 50,000
Railway 3 etter nent, 50,000
$190,000

The appearance of the capital inventory is thus changed.
Formerly, the items of property-rights in it included part
rights, as stocks and bonds; now they consist only of
complete property-rights The items still consist, strictly
speaking, solely of property rights — the right to the
residence, the right to the farm, etc. But, since the
complete right to any article of wealth is best expressed
in terms of the article of wealth itself, instead of the long
phrase, the “right to a residence,” we merely use
“residence.” The property no longer veils the wealth
beneath it, and the inventory, which before was called

an inventory of property-capital, is now also an inventory
of wealth-capital.