OF VALUE.

35

from speaking of value as a sort of general
and independent property; and I cannot too
strongly recommend the student of political
€conomy never to let the word value pass before
 him without putting the question, * value
in what?” or, “in relation to what?” The value
of a commodity must be its value in something,
and whenever the term is used with any defihite
 meaning, that something may be assigned.
If it cannot be assigned, the reader may rest
assured that the author, whoever he be, is
writing without any determinate ideas. - Whoever
 resolutely applies this rule in reading our
€conomical writers, will be surprised and pleased
at the light which it will pour over their pages.
The most difficult and obscure passages will
frequently brighten into perspicuity, and the
Sum of their truth as well as of their error will
stand apparent. The brilliant paradox, the ingenious
 fallacy, the seemingly profound ob-Servation,
 will separate into two distinct parts,
one exhibiting the gaudy fragments of sophistry
 and delusion, the other the simple truth,