KARL  MARX.

25

corresponding.  Value  in  use  depends  solely  on  the  intensity
of  the  need.  A  loaf  of  bread  which  can  feed  me  for  a  day
has  a  constant  value  as  an  article  of  consumption,  but  as  an
article  of  exchange  it  varies  with  the  amount  of  the  harvest
and  the  price  of  grain.  Glasses  which  suit  my  eyesight  may
have  a  high  value  for  me,  while  perhaps  they  would  have  no
value  in  exchange,  because  they  might  not  suit  any  other  eyes
than  mine.
As  regards  value  in  use,  all  articles  differ  from  one  another
by  reason  of  their  qualities  and  the  wants  they  are  intended  to
satisfy.  As  regards  value  in  exchange,  all  articles  have  in
common  the  capability  of  being  bartered  one  for  the  other  or
for  a  certain  sum  of  money.  In  respect  of  use,  it  would  be
difficult  to  establish  a  relation  between  the  sheep  that  we  eat
and  the  horse  that  we  ride  ;  in  respect  of  exchange,  however,
we  may  say  that  a  horse  is  worth  twenty  sheep,  if  for  a  horse
we  get;¿’40,  and  for  a  sheep
In  primitive  communities,  as  in  India,  according  to  Sir
Henry  Maine,  or  during  the  Middle  Ages,  it  is  value  in  use
that  is  principally  considered,  for  as  each  group  of  families
produces  almost  all  they  consume,  there  is  very  little  buying
and  selling.  Take  a  hamlet  under  Charlemagne,  or  a  village
community  in  Russia  or  Servia  :  the  men  procure  the  articles  of
food  and  the  textile  materials,  make  the  tools,  the  agricultural
implements,  and  the  house  furniture,  while  the  women  prepare
the  food  and  the  clothes,  spin  the  wool,  hemp,  and  flax,  and
even  make  the  boots.  There  is  almost  no  exchange.  In  communities, ­
  when  division  of  labour  and  of  trades  has  taken  place,
value  in  exchange  is  the  principal  thing  ;  for  as  nobody  produces ­
  what  he  consumes,  each  must  sell  in  order  to  buy.
Every  product  becomes  an  object  for  the  market,  and  the
important  point  to  discover  is  what  it  is  that  gives  value  to
these  objects  intended  for  exchange.  To  this  question  Marx
does  not  hesitate  to  reply,  with  Adam  Smith  and  Ricardo,  that
it  is  labour  alone.*
*  For  an  account  of  the  theories  of  Karl  Marx,  the  following  writers  may
he  consulted  :—Heinrich  von  Sybel,  Die  Lehren  det  heutigen  Soctaltsmus  ;
Fugen  Jaeger,  Der  Moderne  Socialismus  ;  Schæffle,  Der  Socialtsmus  und