The anti-monopolist. [volume] (Saint Paul, Minn.) 1874-1878, 1876-08-31

of all other commodities; that is to say
rises and falls in proportion to the rela-
tive demand and supply.
more plausibility, but in reality, with no
better ground of truth, been pronounced
to be a measure Of value. Value may
be estimated in the way of price. but it
can not be measured, that is to say,
compared with known and irvariable
measure Of intensity, for no such meas
ure has yet been discovered.
Page 243-The utmost, therefore, that
can be done is merely to estimate or
reckon the relative value OF commodities
in other words, to declare that at given
time and place one commodity is worth
more or less than another; their positive
value it is impossible to determine.
Page 244-Silver, and coin too, what
ever be its material, is commodity
whose value is arbitrary and variable,
like that Of commodities in general, and
is regulated in every bargain By the mus
tual accord OF the buyer and seller. Sill
yer is more valuable when it will pur-
chase larger quantity of commodities
than when it will purchase a smaller
quantity. 1t can not, therefore, serve as
a measure, the first requisite OF which IS
inyariability.
Thus. the assertion Of AIontesquleu,
| when speaking OF money, that 'What IS
the common measure of all things,
should OF all things be the least subject
to change there are no less than three
errors in two lines. For, in the first
place it has never been pretended that
money is the measure of all things, but
merely tina. it is the measurs OF value;
secondly, it is not even the measure OF
values; and, lastly, its value can not be
made inyariable.
Page 245-There is in fact no such
thing as a measure of value, because
there is nothing possessed OF the lndls-
pensabie requisite, invariability of value.
Mr.. John Stuart Mill, in his.' Principles
of Political Economy" page 3t2. is
found to agree with the views OF Mr.. Say.
Witness the following:
10 enable the money price OF u thing
at two different periods to measure the
quantity OF things in general which it
will exchange for. the same sum OF
money must correspond ut both periods
to the same quantity oithings in general,
that is, money must always have the
same exchange value-the same general
purchasing power. Now, not only Is
this not true of money or of any other
commodity, but we can not even sup
pose any state OF circumstances in which
1t would be true. A measure OF eX.
change value, therefore, being lmpos'
sible. writer's have formed q notion o.
something under the name of o measure
Of value, which would be more properly
termed measure OF cost OF production
Mr.. VIM. Brown, of Montreal, pro-
found thinker and severely logical writ
er, has produced New Catechism OF
Political Echnony,' on the 31th page 0
which may be found the following:
Value is relative and always points Z
exchange. BY standard OF value thu
popular mind understands something
which has an arbitrary power OF determ
ming values. But gold isa product 0
, human labor like anything else. an
everything which is produced by laoo
: has, To Il certain extent, the power Q
determining the value OF every othe
| product OF labor. Gold. therefore, hs
| no more OF the powet than corn, cotto
or iron Iher
. is no arbitrary measure of value. Hu
man labor, through its innumerabl
hands and through its millions OF ex
changes, is continually measuring itsei
} and thus keeping its value at its true ley
ell. It's ordained that the produce
: toll must ever submit to the intallibl
arithmetic OF countless numbers OF you
: fellow workmen.
Bishop Berkeley, OF Cloyne, Ireland.
: man OF wonderful sagacity of thought
about a century and a halt ago, wrot
5 many searching essays, in one OF whici
t the "Querist," he grappled the subje'
i now in hand, as follows:
). Whether money be not only so f.
, useful as it stirretn up industry, enablin
;, men mutually to participate in eac
y others laboro
: =. Whether any other means equal
/ conducting to excite and circulate the il
II dustry humankind may not be as usef
V as money.
: s. Whether money is to be conside
d ed AS having an intrinsic value. or
4 being commodity standard, mea
!. ure. or pledge as is variously sug yes
ed by writer's and whether the true i'd
e Of money As such be not altogether tn
ie OF 4 ticket or counter
. II. Whether the value or pri ce
'. things be not compounded proportio
e directly As the demand and reciprocal
OF as the plenty'
%. Whether the terms crown. livr
II pound sterling. &c. are not to De CO
sidered as opponents. or denominatio
ne OF such proportions and whether gol
10 silver and paper are not tickets or coul
e ters tor reckoning recording or transit.
1t ing thereof
u. Whether the denomination bel
- retained, although the bullion we
=. gone. things might not nevertheless
:. rated. bought and sold. industry pv
- NOTED. and circulation Of CONNER
maintained
II
of Prom the foregoing. and from o,l
r testimony whicl might De adduced.
|; il conclude no. only that the idea OF