enjoyment, to others who will use it for furthering production that
the tools and equipment of industry can be multiplied.

Something can be done by banks and financiers in supplying credit in
the form of advances and acceptances; but this method is only like
oiling the wheel of industry, the real driving power of which has to
be saved capital. Creating credits simply means that a certain amount
of buying power is manufactured and handed over to those to whom the
credit is given. It does not set free any labour or goods to be
put into industry. That is only done by the man who abstains from
consumption and saves money by restraining his desire to spend it on
himself, and puts it at the disposal of industry. The man who saves
money, who has always hitherto been rather despised by his companions
and resented by a certain class of social reformer and many other
uneducated people as a capitalist bloodsucker, is thus, in fact, the
person who leaves the world richer than he found it, having put his
money, the product of his own work, into increasing the world's
output, instead of spending it on such forms of enjoyment as heavy
lunches and cinema shows.

The man who does this beneficent work, increasing mankind's output of
goods, and providing employment as long as the factory or railway that
he helps to build is running, is induced to do so, as a rule, by the
purely selfish motive of providing for his old age or for those who
come after him by earning the rate of interest that is paid to him for
his capital. What is this rate of interest going to be, and how much
effect does it have upon the creation of capital?

Some people argue that a low rate of interest makes people save more
because it is necessary for them to save more in order to acquire