“Suppose that a cask of new wine, which cost £50, is put into a cellar, and that, at the end of twelve months, it is worth £55, the question is: Should the £5 of additional value, given to the wine, be considered as a compensation for the time the £50 worth of capital has been locked up, or should it be considered as the value of additional labour actually laid out in the wine?”

— John Ramsay McCulloch

Source: The principles of political economy, 1825, p. 313; About the question to consider profit or interest

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John Ramsay McCulloch 5

Scottish economist, author and editor 1789–1864

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