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PREFACE. 
THE subject of the following Dissertation is 
generally allowed to be one, both of high im- 
portance and of great difficulty. 
“ From no source,” says Mr. Ricardo, “do so 
many errors, and so much difference of opinion 
in the science of political economy proceed, 
as from the vague ideas which are attached 
to the word value.” And the same eminent 
writer, in the preface to the third edition of the 
Principles of Political Economy and Taxation, 
emphatically terms it a difficult subject. “In 
this edition,” says he, “I have endeavoured 
to explain more fully than in the last, my 
opinion on the difficult subject of Varug.” 
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