1st wrkg. period 1st- 5th wk. (£500 in goods) returned end of 10th wk. 2nd wrkg. period 6th-10th wk. (£500 in goods) returned end of 15th wk. 3rd wrkg. period 11th-15th wk. (£500 in goods) returned end of 20th wk. 4th wrkg. period 16th-20th wk. (£500 in goods) returned end of 25th wk. 5th wrkg. period 21st-25th wk. (£500 in goods) returned end of 30th wk. and so forth.If the time of circulation is zero, so that the period of turnover is equal to the working period, then the number of turnovers is equal to the number of working periods of the year. In the case of a 5-week working period this would make 50/5, or 10, periods of turnover per year, and the value of the capital turned over would be 500 times 10, or 5,000. In our table, in which we have assumed a circulation time of 5 weeks, the total value of the commodities produced per year would also be £5,000, but one-tenth of this, or £500, would always be in the form of commodity-capital, and would not return until after 5 weeks. At the end of the year the product of the tenth working period (the 46th to the 50th working week) would have completed its time of turnover only by half, and its time of circulation would fall within the first five weeks of the next year.
Now let us take a third illustration: Working period 6 weeks time of circulation 3 weeks, weekly advance during labour-process £100.
1st working period: 1st-6th week. At the end of the 6th week a commodity-capital of £600, returned at the end of the 9th week.
2nd working period: 7th-12th week. During the 7th-9th week £300 of additional capital is advanced. At the end of the 9th week, return of £600.
Of this, £300 are advanced during the 10th-12th week. At the end of the 12th week therefore £300 are free and £600 are in the form of commodity-capital, returnable at the end of the 15th week.
3rd working period: 13th-18th week. During the 13th-15th week, advance of above £300, then reflux of £600, of which 300 are advanced for the 16th-18th week. At the end of the 18th week, £300 are free in money-form, £600 on hand as commodity-capital which returns at the end of the 21st week. (See the more detailed presentation of this case under II, below.)In other words during 9 working periods (54 weeks) a total of 600 times 9 or £5,400 worth of commodities are produced. At the end of the ninth working period the capitalist has £300 in money and £600in commodities which have not yet completed their term of circulation.
A comparison of these three illustrations shows, first, that a successive release of capital I of £500 and of additional capital II of likewise £500 takes place only in the second illustration, so that these two portions of capital move separately and apart from each other. But this is so only because we have made the very exceptional assumption that the working period and the time of circulation form two equal halves of the turnover period. In all other cases, whatever the difference between the two constituents of the period of turnover, the movements of the two capitals cross each other, as in illustrations I and III, beginning with the second period of turnover. The additional capital II, with a portion of capital I, then forms the capital functioning in the second turnover period, while the remainder of capital I is set free to perform the original function of capital II. The capital operating during the circulation time of the commodity-capital is not identical, in this case, with the capital II originally advanced for this purpose, but it is of the same value and forms the same aliquot part of the total capital advanced.
Secondly: The capital which functioned during the working period lies idle during the time of circulation. In the second illustration the capital functions during the 5 weeks of the working period and lies idle during the 5 weeks of the circulation period. Therefore the entire time during which capital I lies idle here amounts to one half of the year.
It is the additional capital II that appears during this time having, in the case before us, also in its turn lain idle half a year. But the additional capital required to ensure the continuity of production during the time of circulation is not determined by the aggregated amount, or sum total, of the times of circulation during the year, but only by the ratio of the time of circulation to the period of turnover. (We assume, of course, that all the turnovers take place under the same conditions.) For this reason £500 of additional capital, and not £2,500, are required in the second illustration. This is simply due to the fact that the additional capital enters just as well into the turnover as the capital originally advanced, and that it therefore makes up its magnitude just as the other by the number of its turnovers.
Thirdly: The circumstances here considered are not affected by whether the time of production is longer than the working time or not.
True, the aggregate of the periods of turnover is prolonged thereby, but this extension does not necessitate any additional capital for the labour-process.