As for the money required to exchange the s-portion of commodity-capital
 I for the second half of constant capital II, it may be advanced in
 various ways. In reality this circulation embraces innumerable separate
 purchases and sales by the individual capitalists of both categories, the
 money coming in any event from these capitalists, since we have already
 accounted for the money put into circulation by the labourers. A
 capitalist of category II can buy, with the money-capital he has besides
 his productive capital, means of production from capitalists of category I,
 and, vice versa, a capitalist of category I can buy, with money-funds
 assigned for personal and not for capital expenditure, articles of
 consumption from capitalists of category II. A certain supply of money,
 to be used either for the advancement of capital or for the expenditure of
 revenue must under all circumstances be assumed to exist beside the
 productive capital in the hands of the capitalists, as we have shown
 above in parts I and II. Let us assume — the proportion is wholly
 immaterial for our purpose — that one half of the money is advanced by
 capitalists II in the purchase of means of production for the replacement
 of their constant capital, while the other half is spent by capitalists I for
 articles of consumption. In that case department II advances £500 for
 the purchase of means of production from department I, thereby
 replacing (inclusive of the above £1,000 coming from the labourers of
 department I) three-quarters of its constant capital in kind, with the
 £500 so obtained department I buys articles of consumption from II,
 thereby completing for one half of the s-portion of its commodity-capital
 the circulation c — m — c, and thus realising its product in the
 consumption-fund. By means of this second process the £500 return to
 the hands of II as money-capital existing beside its productive capital.
 On the other hand I expends money to the amount of £500 for the
 purchase of II’s articles of consumption in anticipation of the sale of that
 half of the s-portion of its commodity-capital which is still lying in store
 as product. With the same £500 II buys from I means of production,
 thereby replacing in kind its entire constant capital
 (1,000 + 500 + 500 = 2,000) while I realises its entire surplus-value in
 articles of consumption. On the whole, the entire exchange of
 commodities in the amount of £4,000 would be effected with a money-circulation
 of £2,000 which amount is attained only because the entire
 annual product is described as exchanged in bulk, in a few large lots.
 The important point here is that II has not only reconverted its constant
 capital reproduced in the form of articles of consumption, into the form
 of means of production, but has besides recovered the £500 which it
 had advanced to the circulation for the purchase of means of production;
 and that, similarly, I again possesses not only its variable capital, which
 it had reproduced in the form of means of production, in money-form, as
 money-capital once more directly convertible into labour-power, but also
 the £500 expended in the purchase of articles of consumption in
 anticipation of the sale of the s-portion of its capital. These £500 flow
 back to it not because of the expenditure incurred, but because of the
 subsequent sale of a part of its commodity-product incorporating one
 half of its surplus-value.