This chapter takes up a theme that has underlain all previous chapters: were these men capitalists or how are they positioned in the history of capitalism? It also explores the question of whether these merchants formed a class and, if so, in what sense. I argue that they did form a class based on their role in the economy, but that their identity was fashioned by drawing on other ideological registers as well. The complex “class identity” they constructed allowed them entry into their period’s moral economy. It also provided later merchants with a model that would enable a narrative about their own self-worth.