29 Oct. 1800

Polit. Economy

5

Lastly, to do away the seeming inconsistency - to reconcile the paradox with

truth. - When my individual found his quantity of gold money doubled the value

of it was not - any part of it lessened - the quantity of non-pecuniary wealth

which it gave him the command of was not as to any part of this mass of gold

lessened by the addition so made to the whole: - for though in the coffers of

the individual there was as much again the second day - in the whole community

in Great Britain taken together there was any greater quantity on the second day

than on the first.

The whole mass of non-pecuniary wealth or vendible commodities sold within the

year, is worth the whole mass of pecuniary wealth or money that has been given

or undertaken to be given in exchange for it within the year: the actual

quantity of money being multiplied by the number of times it has been given in

exchange: the one mass is worth the other for by the supposition it has been

given in exchange for it: and this and no other is on this occasion the meaning

of the word worth. - of such words as worth and value.