OF VALUE. 
23 
could suppose any object always to remain of 
the same value, the comparison of other com- 
modities with this one would clearly show 
which had risen, which had fallen, and which 
had remained the same. The value of any 
commodity estimated in a measure of this kind, 
might with propriety be called its absolute or 
natural value; while the value of a commodity 
estimated in others which were liable to varia 
tion, whether they were one or many, could 
only be considered as its nominal or relative 
value, that is, its value in relation to any par- 
ticular commodity, or to commodities in ge- 
neral * » 
We have here invariable, absolute, natural, 
nominal, and relative value; but, throughout 
the whole of the passage, the notion of value 
as something intrinsic or absolute is apparent. 
Departing at once from his own definition, he 
maintains, that the value of an object may be 
affected without affecting the value of the com- 
* The Measure of Value stated and illustrated, p. 1, 
et seq.