Chapter XXXI. Money Capital and Real Capital. II (Continued)

We are still not finished with this question: to what extent does the accumulation of capital in the form of loanable money capital coincide with actual accumulation, i. e., the expansion of the reproduction process.

The transformation of money into loanable money capital is a much simpler matter than the transformation of money into productive capital. But two things should be distinguished here:

1 ) the mere transformation of money into loan capital; 2) the transformation of capital or revenue into money, which is transformed into loan capital.

It is only the latter point which can involve a positive accumulation of loan capital connected with an actual accumulation of industrial capital.