When commercial capital occupies a position of unquestioned ascendancy, it everywhere constitutes a system of plunder.

In Marx’s framework, “commercial capital” (merchant capital) profits primarily through buying and selling—capturing margins, controlling circulation, and leveraging unequal exchange—rather than directly organizing production. The claim that its “unquestioned ascendancy” becomes “a system of plunder” reflects his view that when merchant interests dominate social and political power, accumulation tends to proceed through coercive extraction: colonial trade monopolies, forced markets, tribute, and predatory intermediaries. The line underscores a broader Marxian distinction between forms of capital: commercial capital can amplify exploitation by subordinating producers and shaping state policy, especially in early capitalist and colonial contexts, where violence and legal privilege often secure profits.