Mr. Banker: I was just going to remark that the very difference between these two words suggests one of the other words we have agreed to consider tonight, and that is the word "capital"; for capital is a form of wealth, although all wealth is not capital.
Wealth, as we have seen, consists:
(1) Of material things, such as houses, land, etc.;
(2) Of productive power, called labor, etc.;
(3) Of rights, such as checks, notes, bonds, etc.
The owner of these things may use some of them for his convenience. He may so use some of them as to produce a profit. Now, when anything is traded with, or so used as to produce a profit, or as we often say used productively, it is called capital.
Stephens defines capital thus: "Capital, the source whence any profit or revenue flows."
So Senior says: "Economists are agreed that whatever gives a profit is properly called capital."
Again M.D. Fontenay says: "Wherever there is a revenue, you perceive capital."
MacLeod says: "Capital is an economic quantity used for the purpose of profit." I would suggest that we say Capital is anything used for the purpose of profit.