Vermont farmer. [volume] (Newport, Orleans County, Vt.) 1870-1877, 1875-09-24
The Science of wealth, No. 8.

To illustrate the nature Of value--deli-
cious blueberries grow wild on neighboring
mountain. A poor woman has picked her
pail full and brought them to the market at
twenty cents per quart. At another time
she comes again, and offers the berries at ten
cents per quart.
Now, what does she sell The blueber.
ries2 If 50, they would be equally valuable
to-day as last week. Or does she sell her
time2 With this understanding the differ
ence is easily explained. The first time
the berries we're scarce. She could pick but
ten quarts per day. The second time she
picked twenty quarts, and hence, she could
sell them for half the money and yet secure
full compensation for her service.
And here mark the difference between
value and utility. Utility is an element of
value, but may be found, in the highest
degree, in things which have no value.
For instance, the air we breathe, the light
we enjoy and the water We drink, possess
the highest utility, but these cost no service
and hence have no value.
All Gods gifts are gratuitous. Nothing
can have value unless it requires human
labor to give il utility. All utility is abso-
lutely free. Value is the service which
makes aud tends the machine. Bat the
power that moves it, if it is water, wind or
steam, has no value. These agents have
great utility.
Value differs from price also. The price
of any article is its purchasing power
expressed in money the value of any arti'
Gle is its purchasing power expressed in ser.
vice.
Hence the price Of your hat is FIVE dol
lars, but its value is measured by the labor
expended in its manufacture. The price
may vary, but the value is nearly uniform
In 1860, barrel Of -four cost six dol
lars F.; 10 1868, that same -four cost twelve
dollars. These figures were the price Of the
-four, as specified. But the barrel of AOul
in '6S, would purchase no more service thar
in go. Hence the value remained thu
same. r
Exchange may now occupy our attention
Human society is one vast market-place
and every man, woman and child is mer
chant. Indeed, We live in a commercial
world. ...... ...... ....
But what do men exchange Not com
modities, as we have seen. They have nj
value. Human labor has value, and henc
efforts are exchanged. ... ...
No man can crafty all his own desires b.
his own efforts, and hence he aims TO graf
ify other mems desires with the expectation
that they will make a corresponding efor
to crafty his. No man will work withou
compensation. If he works for himself, i
is to crafty some personal desire, and tina
! is his compensation. If he labors 10
another, he expects an equivalent of ser
vice, and that will afford him an equa
amount OF satisfaction.
Product is the result of labor, in ever
department Of industry, and this is what
: brought into market
The farmer brings his produce; the mi
chanic, the product Of his skillful labor
the laborer, his strength the teacher, h
knowledge and professional ability the me-
chant, his time aud capital; the physician
the lawyer, the clergyman, the editor an
the lecturer their professional skill. A
are ready to render service to society au
expect a corresponding service in return.