Dear Fred,

Best thanks for your marginal notes. I have incorporated them into the letter to Schweitzer, as far as necessary. My letter is couched so coolly that it will not be “shown around”. I would now request other information from you. However, you can postpone it should it interrupt the work for the *Fortnightly*, which is urgent. Namely, I like to connect the examples in Vol. II to those of Vol. I. In order to use the data given on p. 186 about your factory – fully sufficient for illustrating the rate of surplus-value – for the rate of profit, it would be necessary:

1) The missing data on the capital advanced in the factory building and the percentage of the sinking fund for it. Ditto warehouse. For both to state rent, if paid. Also the office costs and the cost of the personnel for the warehouse. In the case of the steam engine it is not stated at what percentage the weekly wear and tear is calculated, hence also the capital advanced in the steam engine is not apparent.

2) This the real question. How do you calculate the turnover of the circulating part of capital (i.e., raw material, auxiliary materials, wages)? How large, then, is the advanced circulating capital? I should be glad to receive a detailed answer and illustration to this, namely the calculation of the turnover of the advanced circulating capital.

I am sending you the crazy Urquhart tomorrow for fun.

Salut D KM