The Basic Works of Aristotle (Modern Library Classics) (192 page)

9
     There is another variety of the art of acquisition which is commonly and rightly called an art of wealth-getting,
(40)
and has in fact suggested the notion that riches and property have no limit.
[1257a]
Being nearly connected with the preceding, it is often identified with it. But though they are not very different, neither are they the same. The kind already described is given by nature, the other is gained by experience and art.

Let us begin our discussion of the question with the following considerations:

Of everything which we possess there are two uses: both belong
to the thing as such,
(5)
but not in the same manner, for one is the proper, and the other the improper or secondary use of it. For example, a shoe is used for wear, and is used for exchange; both are uses of the shoe.
(10)
He who gives a shoe in exchange for money or food to him who wants one, does indeed use the shoe as a shoe, but this is not its proper or primary purpose, for a shoe is not made to be an object of barter. The same may be said of all possessions, for the art of exchange extends to all of them,
(15)
and it arises at first from what is natural, from the circumstance that some have too little, others too much. Hence we may infer that retail trade is not a natural part of the art of getting wealth; had it been so, men would have ceased to exchange when they had enough. In the first community, indeed, which is the family,
(20)
this art is obviously of no use, but it begins to be useful when the society increases. For the members of the family originally had all things in common; later, when the family divided into parts, the parts shared in many things, and different parts in different things, which they had to give in exchange for what they wanted,
(25)
a kind of barter which is still practised among barbarous nations who exchange with one another the necessaries of life and nothing more; giving and receiving wine, for example, in exchange for corn, and the like. This sort of barter is not part of the wealth-getting art and is not contrary to nature,
(30)
but is needed for the satisfaction of men’s natural wants. The other or more complex form of exchange grew, as might have been inferred, out of the simpler. When the inhabitants of one country became more dependent on those of another, and they imported what they needed, and exported what they had too much of,
(35)
money necessarily came into use. For the various necessaries of life are not easily carried about, and hence men agreed to employ in their dealings with each other something which was intrinsically useful and easily applicable to the purposes of life, for example, iron, silver, and the like. Of this the value was at first measured simply by size and weight,
(40)
but in process of time they put a stamp upon it, to save the trouble of weighing and to mark the value.

[1257b]
When the use of coin had once been discovered, out of the barter of necessary articles arose the other art of wealth-getting, namely, retail trade; which was at first probably a simple matter, but became more complicated as soon as men learned by experience whence and by what exchanges the greatest profit might be made.
(5)
Originating in the use of coin, the art of getting wealth is generally thought to be chiefly concerned with it, and to be the art which produces riches and wealth; having to consider how they may be accumulated. Indeed,
riches is assumed by many to be only a quantity of coin, because the arts of getting wealth and retail trade are concerned with coin.
(10)
Others maintain that coined money is a mere sham, a thing not natural, but conventional only, because, if the users substitute another commodity for it, it is worthless, and because it is not useful as a means to any of the necessities of life, and, indeed, he who is rich in coin may often be in want of necessary food. But how can that be wealth of which a man may have a great abundance and yet perish with hunger,
(15)
like Midas in the fable, whose insatiable prayer turned everything that was set before him into gold?

Hence men seek after a better notion of riches and of the art of getting wealth than the mere acquisition of coin, and they are right. For natural riches and the natural art of wealth-getting are a different thing; in their true form they are part of the management of a household; whereas retail trade is the art of producing wealth,
(20)
not in every way, but by exchange. And it is thought to be concerned with coin; for coin is the unit of exchange and the measure or limit of it. And there is no bound to the riches which spring from this art of wealth-getting.
²⁰
As in the art of medicine there is no limit to the pursuit of health,
(25)
and as in the other arts there is no limit to the pursuit of their several ends, for they aim at accomplishing their ends to the uttermost (but of the means there is a limit, for the end is always the limit), so, too, in this art of wealth-getting there is no limit of the end, which is riches of the spurious kind, and the acquisition of wealth.
(30)
But the art of wealth-getting which consists in household management, on the other hand, has a limit; the unlimited acquisition of wealth is not its business. And, therefore, in one point of view, all riches must have a limit; nevertheless, as a matter of fact, we find the opposite to be the case; for all getters of wealth increase their hoard of coin without limit. The source of the confusion is the near connexion between the two kinds of wealth-getting; in either, the instrument is the same,
(35)
although the use is different, and so they pass into one another; for each is a use of the same property, but with a difference: accumulation is the end in the one case, but there is a further end in the other. Hence some persons are led to believe that getting wealth is the object of household management, and the whole idea of their lives is that they ought either to increase their money without limit, or at any rate not to lose it.
(40)
The origin of this disposition in men is that they are intent upon living only, and not upon living well; and, as their desires are unlimited, they also desire that the means of gratifying them should be without limit.
[1258a]
Those who do aim at a good life seek the means of obtaining
bodily pleasures; and,
(5)
since the enjoyment of these appears to depend on property, they are absorbed in getting wealth: and so there arises the second species of wealth-getting. For, as their enjoyment is in excess, they seek an art which produces the excess of enjoyment; and, if they are not able to supply their pleasures by the art of getting wealth, they try other arts, using in turn every faculty in a manner contrary to nature.
(10)
The quality of courage, for example, is not intended to make wealth, but to inspire confidence; neither is this the aim of the general’s or of the physician’s art; but the one aims at victory and the other at health. Nevertheless, some men turn every quality or art into a means of getting wealth; this they conceive to be the end, and to the promotion of the end they think all things must contribute.

Thus, then, we have considered the art of wealth-getting which is unnecessary,
(15)
and why men want it; and also the necessary art of wealth-getting, which we have seen to be different from the other, and to be a natural part of the art of managing a household, concerned with the provision of food, not, however, like the former kind, unlimited, but having a limit.

10
     And we have found the answer to our original question,
²¹
Whether the art of getting wealth is the business of the manager of a household and of the statesman or not their business?—viz.
(20)
that wealth is presupposed by them. For as political science does not make men, but takes them from nature and uses them, so too nature provides them with earth or sea or the like as a source of food. At this stage begins the duty of the manager of a household, who has to order the things which nature supplies;—he may be compared to the weaver who has not to make but to use wool,
(25)
and to know, too, what sort of wool is good and serviceable or bad and unserviceable. Were this otherwise, it would be difficult to see why the art of getting wealth is a part of the management of a household and the art of medicine not; for surely the members of a household must have health just as they must have life or any other necessary.
(30)
The answer is that as from one point of view the master of the house and the ruler of the state have to consider about health, from another point of view not they but the physician; so in one way the art of household management, in another way the subordinate art, has to consider about wealth. But, strictly speaking, as I have already said, the means of life must be provided beforehand by nature; for the business of nature is to furnish food to that which is born,
(35)
and the food of the offspring is always what remains over of that from
which it is produced.
²²
Wherefore the art of getting wealth out of fruits and animals is always natural.

There are two sorts of wealth-getting, as I have said
²³
; one is a part of household management, the other is retail trade: the former necessary and honourable, while that which consists in exchange is justly censured;
(40)
for it is unnatural, and a mode by which men gain from one another.
[1258b]
The most hated sort, and with the greatest reason, is usury, which makes a gain out of money itself, and not from the natural object of it. For money was intended to be used in exchange, but not to increase at interest. And this term interest,
²⁴
which means the birth of money from money,
(5)
is applied to the breeding of money because the offspring resembles the parent. Wherefore of all modes of getting wealth this is the most unnatural.

11
     Enough has been said about the theory of wealth-getting; we will now proceed to the practical part. The discussion of such matters is not unworthy of philosophy,
(10)
but to be engaged in them practically is illiberal and irksome. The useful parts of wealth-getting are, first, the knowledge of live-stock—which are most profitable, and where, and how—as, for example, what sort of horses or sheep or oxen or any other animals are most likely to give a return. A man ought to know which of these pay better than others,
(15)
and which pay best in particular places, for some do better in one place and some in another. Secondly, husbandry, which may be either tillage or planting, and the keeping of bees and of fish, or fowl, or of any animals which may be useful to man. These are the divisions of the true or proper art of wealth-getting and come first.
(20)
Of the other, which consists in exchange, the first and most important division is commerce (of which there are three kinds—the provision of a ship, the conveyance of goods, exposure for sale—these again differing as they are safer or more profitable), the second is usury, the third, service for hire—of this,
(25)
one kind is employed in the mechanical arts, the other in unskilled and bodily labour. There is still a third sort of wealth-getting intermediate between this and the first or natural mode which is partly natural, but is also concerned with exchange, viz. the industries that make their profit from the earth, and from things growing from the earth which,
(30)
although they bear no fruit, are nevertheless profitable; for example, the cutting of timber and all mining. The art of mining, by which minerals are obtained, itself has many branches, for there are various kinds of things dug out of the earth. Of the several divisions of wealth-getting I now speak generally; a minute consideration of them might be useful
in practice, but it would be tiresome to dwell upon them at greater length now.

Those occupations are most truly arts in which there is the least element of chance; they are the meanest in which the body is most deteriorated,
(35)
the most servile in which there is the greatest use of the body, and the most illiberal in which there is the least need of excellence.

Works have been written upon these subjects by various persons; for example,
(40)
by Chares the Parian, and Apollodorus the Lemnian, who have treated of Tillage and Planting, while others have treated of other branches; any one who cares for such matters may refer to their writings.
[1259a]
It would be well also to collect the scattered stories of the ways in which individuals have succeeded in amassing a fortune; for all this is useful to persons who value the art of getting wealth.
(5)
There is the anecdote of Thales the Milesian and his financial device, which involves a principle of universal application, but is attributed to him on account of his reputation for wisdom. He was reproached for his poverty,
(10)
which was supposed to show that philosophy was of no use. According to the story, he knew by his skill in the stars while it was yet winter that there would be a great harvest of olives in the coming year; so, having a little money, he gave deposits for the use of all the olive-presses in Chios and Miletus, which he hired at a low price because no one bid against him. When the harvest-time came,
(15)
and many were wanted all at once and of a sudden, he let them out at any rate which he pleased, and made a quantity of money. Thus he showed the world that philosophers can easily be rich if they like, but that their ambition is of another sort. He is supposed to have given a striking proof of his wisdom, but, as I was saying,
(20)
his device for getting wealth is of universal application, and is nothing but the creation of a monopoly. It is an art often practised by cities when they are in want of money; they make a monopoly of provisions.

There was a man of Sicily, who, having money deposited with him, bought up all the iron from the iron mines; afterwards,
(25)
when the merchants from their various markets came to buy, he was the only seller, and without much increasing the price he gained 200 per cent. Which when Dionysius heard, he told him that he might take away his money, but that he must not remain at Syracuse,
(30)
for he thought that the man had discovered a way of making money which was injurious to his own interests. He made the same discovery as Thales; they both contrived to create a monopoly for themselves. And statesmen as well ought to know these things; for a state is often as much in want of money and of such devices for obtaining it as a household,
or even more so; hence some public men devote themselves entirely to finance.
(35)