capital consist of, 152-156;
shown by diagrams to be preparatory
 to enjoyable services, 317—
320.
Interest, is capital and not income,
134-135, 224 ; not an item in cost
of production, 173-174; spurious
distinction between rent and,
186-187 ; crude theories of, 187—
188; nominal principal and,
in case of bond, 211-212, 215,
217; accumulation of, 224-226;
definition of nominal and total,
334.
Interest, rate of: defined, 191,
334; various meanings of, according
 to frequency of payment,
 192-194, 334; payable
annually and semi-annually,192;
premium and price concepts
of, 194-196, 246; interchangeability
 of premium and price
concepts of, 196-199; table
showing equivalent rates of dis-,
 count, capitalization, and, 200;
a link between capital-valueand
income-value, 202, 327; table
of, realized per annum on three,
four, and five per cent bonds, 214—
215; effect on capital-value of
change in, 229, 271-273, 390-393
 ; value-return may be greater
or less than, 229-234; risk as
applied to, 271-274; forecast of,
by insurance companies, 274;
riskless, mathematical, and commercial,
 279-280; on government
 bonds, 280-281 ; mathematical
 relations between annual,
semi-annual, and quarterly rates
conceived in price sense, 357—
358, in premium sense, 358-362;
 mathematical relation between,
 and rate of discount,
364-366; dimensions of, and
rates of discount and capitalization,
 367-368; variation of,
produces two rival concepts of
standard income, 396-398.
Interstate Commerce Commission,
Report of, cited, 39.
Inventory, distinction between quantity,
 price, and value of wealth
shown in an, 14.
Investments, classification of, as

INDEX

between amount of capital and
risk of, 277, 408-409.
Irredeemable paper money, wealth
underlying, 27; nature of, 30.
Item of wealth, 5, 337.

J

James, William, quoted, 168 n.
Jevons, W. S., use of phrase ‘final
utility’’ by, 46; concept of
capital of, 54, 57; use of term
“discommodities’” by, 120;
cited on rent entering into cost
of production, 173.
Joint stock companies, capital accounts
 of, 68-70; limited liability
 in, 82-83; shares in, as
example of perpetual annuities,
209.
Joint stock rights, wealth underlying,
26.
Juglar, cited on crises, 296.
K
Kind, income obtained in, 104.
Kleinwiichter, concept of capital of,
54; raw materials regarded as
non-capital by, 63; on income,
102, 351-355.
Knies, on capital, 54, 57, 60.
Knowledge, reduction of risk by
method of increasing, 288, 291;
utility of speculation based on,
298.
Komorzynski, on capital, 65 n.%

L

Labor, economists’ views of relation
between capital and, 55; defined
 as outgo in form of human
exertion, 120, 334; as form of
disservice, 145; appraisal of,
172; in a sense the only true
cost of production, 175; distinction
 drawn between work
and, 175 n.
Labor power, 316-317.
Lafrentz, L. W., use of term
tal’’ by, 63.
Land, regarded as one class of wealth,
5, 334; classification of, 7;
nationalization of, 30-31, 254;
fancied distinction between capi-“capi-





safe and unsafe, 277; relation

tal and, 56 n!.; view of, as non- 

   
  
 
 
  
 
 
 
 
 
   
   
   
  
  
  
  
 
  
  
  
  
 
 
  
  
  
 
 
 
 
  
 
 
  
 
 
 
 
 
  
  
 
  
  
 
 
  
 
 
  
 
 
   

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