Capital must work, as it were, in concert with industry; and this concurrence is what I call the productive agency of capital. - Jean-Baptiste Say

A man who applies his labour to the investing of objects with value by the creation of utility of some sort, can not expect such a value to be appreciated and paid for, unless where other men have the means of purchasing it. Now, of what do these means consist? Of other values of other products, likewise the fruits of industry, capital, and land. Which leads us to a conclusion that may at first appear paradoxical, namely, that it is production which opens a demand for products.

The celebrated Adam Smith was the first to point out the immense increase of production, and the superior perfection of products referable to this division of labour.

With respect to the present time, there are few persons who unite the qualifications of good observers with a situation favourable for accurate observation.