OF VALUE.

203

This passage, which seems to have a tacit
reference to the speculations -of Col. Torrens,
appears to me to show the power of words
over the clearest and strongest minds. By the
potent magic of a term, the value of commo-
dities is first made something single and indi-
vidual ; and then it follows of course, that an
individual thing cannot depend upon itself as a
cause. But this is not asserted by those who
contend that capital causes or determines value.
The value of commodities may not be capable
of depending on itself, but the value of one
commodity, which is one thing, may very easily
depend on that of another, which is a different
thing ; and if it did not in point of fact, there
would be no logical absurdity in asserting it.
He who maintains that the mutual value of two
commodities is chiefly determined by the com-
parative quantity of capital expended in their
production, undoubtedly maintains that it is de-
termined by the value of preceding commodities;
and this is quite consistent with the value of
those preceding commodities having been de-