WHAT  TAKES  PLACE  WHEN  PRICES  FALL?  113
any  corresponding  reality  in  the  production  of  serviceable ­
  forms  of  value.  This,  however,  though  of  extremely
great  importance  in  the  world  of  business,  must  be  held
exceptional.  In  most  cases,  in  all  sound  business,  a
creation  of  forms  of  commercial  value  has  taken  place
corresponding  to  the  money  or  the  credit,  and  there  is
a  parallelism  in  the  distribution  of  ownership  of  the  two.
The  object  of  these  remarks  is  to  establish  clearly  the
idea  that  business  has  two  aspects,  the  industrial  and  the
financial,  and  that  (except  in  banking  and  the  business
of  finance)  the  two  present  alternative  views  of  each  fact.
In  studying  a  particular  business,  that  of  a  spinning-mill
or  a  foundry,  you  might  study  it  from  its  books  in  terms
of  sales  and  purchases,  contracts  and  prices,  or  you
might  study  it  in  the  operations  of  labour  and  machinery
upon  the  raw  material  in  the  various  processes  and  the
changes  in  nature  or  position  of  forms  of  wealth.
Either  study  would  yield  a  clear  and  complete  knowledge ­
  of  the  structure  and  working  of  the  business,  but
from  a  different  standpoint.  The  great  mass  of  those
who  are  employed  in  the  works  or  in  the  counting-office
are  acquainted  with  only  one  of  the  aspects,  and  do  not
require  to  know  the  other.
§  2.  What  Takes  Place  when  Prices  Fall?
The  manager  alone  is  fully  cognisant  of  both  aspects
of  the  business  and  is  concerned  with  their  inter-relations.
Looking  at  the  business  as  a  going  concern,  the  bookkeeping ­
  side  seems  simply  to  follow  and  to  register  in
figures  and  names  the  facts  of  purchase,  work,  and  sale,
and  to  constitute  the  industrial  side.  The  relations  between
the  two  sides  are  focussed  in  the  will  of  the  manager.
8