PREFACE.

It is remarked by another author, that * he
who is fully master of the subject of Value is
already a good political economist.” ¢ Even
for its own sake,” he adds, * the subject is a
matter of curious speculation: but in relation
to Political Economy it is all in all: for most
of the errors (and, what is much worse than
errors, most of the perplexity) prevailing in
this science take their rise from this source*.”
Although much has been written and many
efforts have been made fo overcome the ob-
stacles, which present themselves in this part of
economical science, it may be affirmed with
little risk of contradiction, that the success
has not been in proportion to the labour be-
stowed. There appears to have been too little
circumspection at the outset. The ground-
work of the subject has not been examined

* The Templars’ Dialogues on Political Economy,
in the London Magazine for April, 1824, pages 341
and 342.