means of production (20 lbs. of cotton, value 20s., and spindle worn away, 4s.) it is therefore constant capital. The remaining 310ths or 6s. is the new value created during the spinning process: of this one half replaces the value of the day's labour-power, or the variable capital, the remaining half constitutes a surplus-value of 3s. The total value then of the 20 lbs. of yarn is made up as follows:
30s. value of yarn = 24 const. + 3s. var. + 3s. surpl.
Since the whole of the value is contained in the 20 lbs. of yarn produced, it follows that the various component parts of this value, can be represented as being contained respectively in corresponding parts of the product.
If the value of 30s. is contained in 20 lbs. of yarn, then 810ths of this value, or the 24s. that form its constant part, is contained in 810ths of the product or in 16 lbs. of yarn. Of the latter 1313 lbs. represent the value of the raw material, the 20s. worth of cotton spun, and 223 lbs. represent the 4s. worth of spindle, &c., worn away in the process.
Hence the whole of the cotton used up in spinning the 20 lbs. of yarn, is represented by 1313 lbs. of yarn. This latter weight of yarn contains, it is true, by weight, no more than 1313 lbs. of cotton, worth 1313 shillings; but the 623 shillings additional value contained in it, are the equivalent for the cotton consumed in spinning the remaining 623 lbs. of yarn. The effect is the same as if these 623 lbs. of yarn contained no cotton at all, and the whole 20 lbs. of cotton were concentrated in the 1313 lbs. of yarn. The latter weight, on the other hand, does not contain an atom either of the value of the auxiliary materials and implements, or of the value newly created in the process.
In the same way, the 223 lbs. of yarn, in which the 4s., the remainder of the constant capital, is embodied, represents nothing but the value of the auxiliary materials and instruments of labour consumed in producing the 20 lbs. of yarn. We have, therefore, arrived at this result: although eight-tenths of the product, or 16 lbs. of yarn, is, in its character of an article of utility, just as much the fabric of the spinner's labour, as the remainder of the same product, yet when viewed
