Suppose everything else about the hull is finished, except the one little item of caulking the seams, there is no doubt that it has still more value for a shipbuilder. But for whom else has it any value, except perhaps for a fire-wood merchant? What price will any one who wants a ship--that is to say, something that will carry a cargo from one port to another--give for the unfinished vessel which would take water in at every seam and go down in half an hour, if she were launched? Suppose the shipbuilder's capital to fail before the vessel is caulked, and that he cannot find another shipbuilder who cares to buy and finish it, what sort of proportion does the value created by the labour, for which he has paid out of his capital, stand to that of his advances?
Surely no one will give him one-tenth of the capital disbursed in wages, perhaps not so much even as the prime cost of the raw materials. Therefore, though the assertion that "the creation of value does not depend on the finishing of the product" may be strictly true under certain circumstances, it need not be and is not always true. And, if it is meant to imply or suggest that the creation of value in a manufactured article does not depend upon the finishing of that article, a more serious error could hardly be propounded.
Is there not a prodigious difference in the value of an uncaulked and in that of a finished ship; between the value of a house in which only the tiles of the roof are wanting and a finished house; between that of a clock which only lacks the escapement and a finished clock?
As ships, house, and clock, the unfinished articles have no value whatever--that is to say, no person who wanted to purchase one of these things, for immediate use, would give a farthing for either. The only value they can have, apart from that of the materials they contain, is that which they possess for some one who can finish them, or for some one who can make use of parts of them for the construction of other things. A man might buy an unfinished house for the sake of the bricks; or he might buy an incomplete clock to use the works for some other piece of machinery.
Thus, though every stage of the labour bestowed on raw material, for the purpose of giving rise to a certain product, confers some additional value on that material in the estimation of those who are engaged in manufacturing that product, the ratio of that accumulated value, at any stage of the process, to the value of the finished product is extremely inconstant, and often small; while, to other persons, the value of the unfinished product may be nothing, or even a minus quantity. A house-timber merchant, for example, might consider that wood which had been worked into the ribs of a ship was spoiled--that is, had less value than it had as a log.
According to "Progress and Poverty," there was, really, no advance of capital while the great St. Gothard tunnel was cut. Suppose that, as the Swiss and the Italian halves of the tunnel approached to within half a kilometre, that half-kilometre had turned out to be composed of practically impenetrable rock--would anybody have given a centime for the unfinished tunnel? And if not, how comes it that "the creation of value does not depend on the finishing of the product"?
I think it may be not too much to say that, of all the political delusions which are current in this queer world, the very stupidest are those which assume that labour and capital are necessarily antagonistic; that all capital is produced by labour and therefore, by natural right, is the property of the labourer; that the possessor of capital is a robber who preys on the workman and appropriates to himself that which he has had no share in producing.
On the contrary, capital and labour are, necessarily, close allies; capital is never a product of human labour alone; it exists apart from human labour; it is the necessary antecedent of labour; and it furnishes the materials on which labour is employed. The only indispensable form of capital--vital capital--cannot be produced by human labour. All that man can do is to favour its formation by the real producers. There is no intrinsic relation between the amount of labour bestowed on an article and its value in exchange. The claim of labour to the total result of operations which are rendered possible only by capital is simply an a priori iniquity.
