GU ON THE VALUE the paradoxes into which he falls, has not failed to drive this doctrine of the value of la- bour to an extravagant result. “ Wages,” says he, “are at a high real value, when it requires much labour to produce wages; and at a low real value, when it requires little labour to produce wages: and it is perfectly consistent with the high real value—that the labourer should be almost starving; and perfectly con- sistent with the low real value—that the la- bourer should be living in great ease and com- fort *.” Well might the author’s friend Philoebus exclaim at this extraordinary passage, “ this may be true: but you must allow, that it sounds extravagant.” Let us examine it by the test before given: let us ask, value in what? If the labourer is starving, in relation to what is his labour of high value? In relation to corn? If so, he would obtain a large quantity of corn in ex- London Magazine for May 1824, p. 557.