The independent., 1903-04-23
CHAPTER XVII.
All Rights Reserved.

Professor JevonS teaches that corn
and fax are by some magic trans
muted into silver, which becomes
their common denominator; and that
silver thus becomes common COM
modify" What intellectual chaos
must reign where such grotesque in
coherencies are accepted as the de-
liyeranee of reason and science,
leave others to judge.
The fatal mistake of all these peo-
pie is, they see not that the force
we are dealing with lies behind the
commodities involved. 1t is not the
commodities, corn and flax them
selves, but the degree Of intensity OF
the force of demand for those COM
modities, that we are here concerned
with. The commodities themselves
may be transmitted into flour and
bread, or into linen and clothing, but
they cannot be transmitted into sill
yer, nor any other common cOmmod-
ity" The problem is not one of
chemistry, but of mathematics 1t is
quantity of the force of demand for a
fixed weight or measure of each OF
these commodities which alone con-
Germs us in determining how much
flax is the exchange equivalent" for
a bushel of corn.
There is quantity of the force of
demand for the flax, and a quantity
of the force of demand for corn, be-
hind each of these commodities, and
the valuation made of that force, when
expressed by the money symbol, is
quantity of valuation that is un-
equal. Unequal quantities of the
same thing, expressed in a common
term, may be compared with each
other, or may be compared with a
standard quantity of the same nature,
by the mathematical device called
the numerals" The quantity of the
force of demand for the corn may be
greater per pound than the quantity
of the force of demand for the flax
per pound. The problem is then to
compare the two quantities of valua-
tion of the force of demand, thus ex-
pressed, with some fixed quantity OF
the force of demand serving as
standard unit" and by employing
the name which symbolizes that fixed
quantity of the force of demand, in
connection with the numerals, express
the valuation" of the corn per
pound, and the valuation" Of the
flax per pound.
The one thing required is SYM
bol that expresses or utters fixed
quantity of the force of demand, with
which to compare the quantity of that
force ascertained by valuation" to
be acting on the corn and on the fax.
1t is their respective quantities OF
valuation that are to be compared,
and not the commodities themselves.
Neither piece of silver nor any 9TH
er physical thing can avail us. 1t is
a piece Of the force of demand, of
fixed quantity, that is required for
comparison with the quantities of that
force acting on each of the commodi-
ties, as thus valued"
But we cannot handle the valuation
of the force Of demand as thus made.
We therefore adopt word or term
and make it the symbol of the fixed
quantity of the force of demand, Sc
lected as the standard unit" and US
ing that symbol and numerals as a
standard unit" we say the quantity
of the force of demand per pound for
the corn, as thus valued" is equal
to the symbol one time or ten times;
and that the quantity of that force,
thus valued, for the fax per pound is
equal to the symbol of twenty times
or thirty times. We cannot reduce
corn and flax to a common. denomi-
nator," because they are incapable Of
that process. But two or more alb
stract quantities, with which mathe-
MATES deals, when expressed in a
common term and numerals, may be
brought to common denomination.
And when the quantity. of the force
of demand per pound for the corn, and