"Virtually" is apt to cover more intellectual sins than "charity" does moral delicts.
The notion that the value of a thing bears any necessary relation to the amount of labour (average or otherwise) bestowed upon it, is a fallacy which needs no further refutation than it has already received. The average amount of labour bestowed upon warming-pans confers no value upon them in the eyes of a Gold-Coast negro; nor would an Esquimaux give a slice of blubber for the most elaborate of ice-machines.
Who has ever imagined that wealth which, in the hands of an employer, is capital, ceases to be capital if it is in the hands of a labourer? Suppose a workman to be paid thirty shillings on Saturday evening for six days' labour, that thirty shillings comes out of the employer's capital, and receives the name of "wages" simply because it is exchanged for labour. In the workman's pocket, as he goes home, it is a part of his capital, in exactly the same sense as, half an hour before, it was part of the employer's capital; he is a capitalist just as much as if he were a Rothschild.
I think it may be not too much to say that, of all the political delusions which are current in this queer world, the very stupidest are those which assume that labour and capital are necessarily antagonistic; that all capital is produced by labour and therefore, by natural right, is the property of the labourer; that the possessor of capital is a robber who preys on the workman and appropriates to himself that which he has had no share in producing.
On the contrary, capital and labour are necessarily, close allies; capital is never a product of human labour alone; it exists apart from human labour; it is the necessary antecedent of labour; and it furnishes the materials on which labour is employed. The only indispensable form of capital--vital capital--cannot be produced by human labour. All that man can do is to favour its formation by the real producers. There is no intrinsic relation between the amount of labour bestowed on an article and its value in exchange. The claim of labour to the total result of operations which are rendered possible only by capital is simply an _a priori_ iniquity.
The vast and varied procession of events, which we call Nature, affords a sublime spectacle and an inexhaustible wealth of attractive problems to the speculative observer. If we confine our attention to that aspect which engages the attention of the intellect, nature appears a beautiful and harmonious whole, the incarnation of a faultless logical process, from certain premisses in the past to an inevitable conclusion in the future. But if it be regarded from a less elevated, though more human, point of view; if our moral sympathies are allowed to influence our judgment, and we permit ourselves to criticize our great mother as we criticize one another; then our verdict, at least so far as sentient nature is concerned, can hardly be so favourable.