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Marx's Grundrisse: Footnotes

<"65.">65. See above, "Contradictions in the Money Relation"; money is '(3) representative of commodities (hence object of contracts)', and see below section c, 'money as material representative of wealth'.

<"66.">66. Steuart, An Inquiry, Vol. I, pp. 395-6.

<"67.">67. F.-L.-A. Ferrier, Du gouvernement considéré dans ses rapports avec le commerce, Paris, 1805, p. 35. Ferrier (1777 -- 1861) was a high French customs official who both operated and wrote in favour of Napoleon I's protective system.

<"68.">68. Louis Say (1774-1840), brother of Jean-Baptiste Say, issued a number of economic pamphlets criticizing the latter's opinions. The reference here is to Principales Causes de la richesse ou de la misère des peuples et des particuliers, Paris, 1818, pp. 31 - 2.

<"69.">69. Adam Smith, Wealth of Nations, Vol. II, Bk 2, pp. 270 -- 77.

<"70.">70. Edward Solly, The Present Distress in Relation to the Theory of Money, London, 1830, p. 5.

<"71.">71. James Maitland, Earl of Lauderdale (1759-1839), Whig, then Tory, politician, author of economic works attacking Smith's distinction between productive and unproductive labour. Marx refers here to the French translation of one of his books, entitled Recherches sur la nature et l'origine de la richesse publique, et sur les moyens et les causes qui concourent à son accroissement, Paris, 1808, p. 140.

<"72.">72. James Taylor, A View to the Money System of England, from the Conquest; with Proposals for Establishing a Secure and Equitable Credit Currency, London, 1828, pp. 18 -- 19.

<"73.">73. Sismondi, Études, Vol. II, p. 278.

<"74.">74. ibid., p. 300.

<"75.">75. 'The epitome of all things' (Boisguillebert, Dissertation, p. 399).

<"1.">1. See below, n. 25.

<"2.">2. The term Gemeinwesen also carries the nuances 'common essence', 'common system' and 'common being'.

<"3.">3. Steuart, An Inquiry, Vol. I, p. 327.

<"4.">4. T. R. Malthus, Principles of Political Economy, London, 1836, p. 391.

<"5.">5. Edward Misselden (seventeenth-century Mercantilist writer, active in the Merchant Adventurers' Company, d. 1654), Free Trade, or the Meanes to Make Trade Flourish, London, 1622, pp. 19-24.

<"6.">6. German: Akkumulation. But Marx presumably intended this word to have the sense Anhäufung (piling-up), as on the previous page, rather than the more technical economic sense he usually gives to the word.

<"7.">7. Jacob, An Historical Inquiry, Vol. II, pp. 271-323.

<"8.">8. Petty, Political Arithmetick, pp. 178-9.

<"9.">9. Misselden, Free Trade, pp. 7, 12-13.

<"10.">10. The notes on Boisguillebert are in an unnumbered excerpt-book compiled in June and July 1845 and printed in MEGA, 1/3, pp. 568-79. Marx discussed Boisguillebert's polemic against the power of money in A Contribution to the Critique of Political Economy, London, 1971, pp. 54-5 and 124-6.

<"11.">11. Nassau Senior, Principes fondamentaux de l'économie politique, tirés de leçons édites et inédites, Paris, 1836, pp. 116-17. (This is the translation by J. Arrivabene of Senior's Outline of the Science of Political Economy, London, 1836). Senior himself (1790-1864) was an English political economist, a member of numerous mid-nineteenth-century government commissions, Professor of Political Economy in Oxford from 1847 to 1852, and noted for his two theories, that the profit of capital is the product of the last hour of the working day, and that the accumulation of capital results from the abstinence of the capitalist from consumption.

<"12.">12. Samuel Bailey (1791-1870, successful Sheffield businessman, 'coarse practical bourgeois' (Marx), and author of several economic pamphlets against Ricardo's theory of value), Money and its Vicissitudes in Value; as They Affect National Industry and Pecuniary Contracts; with a Postscript on Joint-Stock Banks, published anonymously, London, 1837, p. 3.

<"13.">13. Storch, Cours d'économie politique, Vol. II, p. 135.

<"14.">14. Bailey, Money and its Vicissitudes, pp. 9-11.

<"15.">15. Piercy Ravenstone, Thoughts on the Funding System and its Effects London, 1824, p. 20.

<"16.">16. 'These have one mind, and shall give their power and strength unto the beast' (Revelation xvii, 13); 'And that no man might buy or sell, save that he had the mark, or the name of the beast, or the number of his name' (Revelation xiii, 17).

<"17.">17. Storch, Cours d'économie politique, Vol. I, pp. 72-3.

<"pagenote228">*In so far as money is a medium of circulation, 'the quantity of it which circulates can never be employed individually; it must always circulate'. (Storch.) The individual can employ money only by divesting himself of it, by positing it as being for others, in its social function. This, as Storch correctly remarks, is a reason why the material of money 'should not be indispensable to human existence', in the manner of such things as hides, salt, etc., which serve for money among some peoples. For the quantity that is in circulation is lost to consumption. Hence, firstly, metals enjoy preference over other commodities as money, and secondly, the precious metals enjoy preference over those which serve as instruments of production. It is characteristic of the economists that Storch expresses this in the following manner: the material of money should should 'have direct value but on the basis of an artificial need'. Artificial need is what the economist calls, firstly, the needs which arise out of the social existence of the individual; secondly, those which do not flow from his nakedexistence as a natural object. This shows the inner, desperate poverty which forms the basis of bourgeois wealth and of its science.