Spencer Heath Archive

Item 706

Taping by Spencer MacCallum during conversation with Heath.

August 4, 1956

 

White envelope has item 706 & 707

 

 

 

IMMORTALITY OF CAPITAL

 

     What is capital? Spiritual — creative — self-developing, organic.

     Property, services, can be consumed, destroyed and be no more. Also it can be used as a means towards an end without being consumed or destroyed. Devoted to the service of others, it can accumulate and grow at the same time it is serving others. Devoted to such service, it draws to itself automatically a recompense from those served. This gross recompense passes first to those persons who have served subordinately in its administration as suppliers of labor and materials. A further portion is applied to maintenance of the property itself. A still further portion, called profit, goes to those who, by owning it, administer the property. Finally a portion of its income keeps it in repair and a still further portion provides for its replacement in some new form whenever its present form becomes unsuitable or obsolete. When conditions make it that it no longer serves the desires or needs of others, this is called obsolescence. A portion of its revenues is accumulative for replacement in such case.

    All such property devoted to the use of others is called capital. It is alive because it grows, creative because it builds, spiritual because it creates, immortal because it provides for its own indefinite continuity. It possesses a portion of the creative spirit of man as an instrument of his creative and thereby spiritual power.