ABSTRACT
Capital is the factor that makes for progress. It has greatly developed the wealth of communities and their opportunities of using that wealth for encouraging cultured human life; but at every stage of material progress there has been social hardship. If teachers of Economics utter an uncertain sound in regard to Capital, or at least to those who provide it, can we wonder if teachers of Christian Ethics should be lacking in appreciation of the function of accumulated wealth. With the work of F. A. Walker and M. Charles Gide we pass into an atmosphere wholly modern, and there is, therefore, nothing remarkable in the fact that they should be at pains to discriminate between the function of capital and that of direction, or should emphasize the importance of banking and credit. A bank may indeed be described without exaggeration as the nerve centre of the modern industrial system.
