Wisconsin herald, and Grant County advertiser. [volume] (Lancaster, Wis.) 1844-1845, 1845-11-01
Definitions.

Political economy is the science b.
which nations and individuals acquire
wealth, or, in other words, become rich,
and this accounts for some of the p;in-
cipul political economists being the
richcst-humbugs OF this or any other
time.
Wealth is thot which we can cx-
change for something else, aud conse-
qucntly and old pair of pantaloons mast
be considered as wealth when exehang-
ed for a godinch, and the men WHO
walk about with birds on their fingers.
offering then for old trousers, are con
sequently practising political ccono-
my.
Air is not wealth, because we can
not get change for it, though there is
such thing as, ''change Of air." and 1t
is this ambiguity of terms which has
probably misled the government, who
think that what is capable Of being
changed, must gained something in ex-
change, and is consequently wealth;
so, looking at air in that light, they tax
it accordingly.
A shirt is wealth il it is only chang
ed once "a month, but the fact of its be-
ing changed at all gives it, according
to political economists, a certain ~
uncertain value.
OF VALUE.
That quality OF an object which,
ders it capable of gratifying our desires
is value: therefore. if wedesire TO catch
"A flea. and the flea is caught it becomes
valuable--a. least in the eyes Of politi-
cal economists.
Before political economy came into
sasppss js WA essssaEgAy 'R@sh Whit f sa ASada
fetch: ut this doctrine is exploded,
for five scno servant TO fetch pound
of mutton chops. we are not to cons;d-
err the chops as the value Of the SER
want. A valuable dog will fetch PEN
ny ball if we throw il to him, but we
canaot say that the dog is only worth
what he will fetch, for this would max
him worth only II penny, and (allowl <
for The wear and tear OF the ball) per-
haps nothing.
Intrinsic value is different from OK
chapgcabe value. The former exists
in an article to which nothing is aided
by human labor. The play Of Ham
lei is Of intrinsic value, inasmuch as IT
affords MS qualification TO read il; hut
sometimes wlcu human labor is added
10 il. ms when Mr.. Charles Kean tolls
through the part, it loss It's power Of
delighting Us. and consequently its val
ne is gone, by being mixed up with
human r.-including the labor the
actor. and The labor of those who 1T
out his performance.
II is, however, admitted by all po-
li,ical economists, that labor 10 general
gives value to that which il is bestow-
cd upon; according to the amount
Of labor. BY this doctrine, it would
appear that a cab-horse. which requires
great activity from the driver to ma &c
il 90, is more valuable creature ihan
horse that goes without any la'oor at
all. This seems at first a startling pro-
position, but il must be evident that a
! horse which cannot run away with You,
and endanger your life, is Ynore valna-
BILE than one that may, at least IN the
long run; and it is, after all. the long
run, or for going TO great lengths. tat
the doctrine Of The political economists
is best adapted.
fit takes Sir Robert Peel week 10
make a single joke as good as one of
the thousand that appeared in Punch 5
| Almanack, it is clear that the Aim -
ack in question is worth thousand
weeks, or about twenty years, OF the
Prcmier's existence; and as cheerful
ness is likely to prolong life, it is proba-
bic that Sir r. Peel may find his cxis-
tcncc so much heightened by a peru
sal Of the work alluded TO, as to prove
the theory of the political economist.
Some works not so valuable NAV be
said TO lengthen peoples days, but it is
BY making the time employed in pc
/, rusing those works drag on very hea-
Willy.
When men exchange silver for gold
they give more silver because j
quires less labor TO gel it. But IT.
, are exceptions TO this rule; for Il is just