" of an ovafor a triumph, and a separate minimum for the "little go tion. But this test was applied only in early times, whilst the basis of difficulty was more nearly identical. In times of higher civilization, when this basis became more complex and variously modified, the grounds of claim and the test were modified conformably.

NOTE 16. Page 46.

Egypt was so capable of feeding vast armies, that for that reason only she was viewed as the potential mother of rebellions, as the eternal temptress of the ambitious. Whence grew the Roman rule, that no proconsul, no man of senatorian rank, should ever go into Egypt as a lieutenant of the Republic or the Emperor; such a man's powers would have been too ample, and his rank of too much authority.

NOTE 17. Page 47.

Immediate," because, upon a secondary consideration, you become aware that the trouble imposed on the maker is spared to yourself; yet still the ground of value remains what it was, reaped, but an evil evaded.

NOTE 18. Page 50.

not a benefit

"Raising that leaguer."- Viz. by John Sobieski in 1683, upon which great event (the final disappearance of Mussulmans from central Christendom) is that immortal sonnet of Filicaja's, so nobly translated by Wordsworth: "He" (Sobieski) "conquering THROUGH God, and God BY him."

NOTE 19. Page 51.

"To affirmative value.". That is, applied itself to the direct service or pleasure anticipated from the animal, calculated on so many years' purchase, not to any indirect exponent or measure of this service. In the case of the rhinoceros, (and also of the modern race-horse, as compared with the hunter a little further on,) the construction of the affirmative value is somewhat different in form, though substantially the same. There the animal is viewed productively: both rhinoceros and racer sell upon the ground of affirmative value; they make re

turns; but returns in money; and not (as the bashaw's horses) in ornament, sense of beauty, luxurious motion, &c.

NOTE 20. Page 59.

British people are not entitled to judge by their experience in Germany or Italy. Generally, the physician or the surgeon called in, is some one founding his practice upon British patronage, and trained to British habits of feeling.

NOTE 21. Page 72.

"War depreciation.”. I do not intend to say one word upon this much-agitated question in so short a work. I will not therefore deny the alleged depreciation of 1811, &c.; for that would be arrogant in a place which allows no room for assigning reasons. This, however, I may say without blame, that no proof, good in point of logic, has publicly been ever offered in evidence of the depreciation; consequently, no previous presumption has been created in favor of the supposed counter-movement of the currency, as a possible movement. But the reason why at all I refer to the case, is for the sake of negativing the pretended countenance of Ricardo to the war depreciation. True, he maintained this opinion nominally. But when it is understood that, by Ricardo's definition of depreciation, any separation of the paper currency from the metallic standard (whether growing out of a higher Brazil cost of gold, or out of a real fall in the paper, expressed in a merely apparent rise of gold) equally satisfied his conditions of a depreciation, it becomes plain that the whole doctrine vanishes in smoke.

NOTE 22. Page 73.

Cavils might be raised against this statement having no reference at all to the real question at issue, viz. quantity of labor against cost of labor, by showing that oftentimes the produce on one side might be none at all. But such cavils would be unsubstantial; they would affect, not the principle, but simply the mode of estimating, or rating, quantities under that principle. The same principle of labor rated by quantity would continue to govern, though the modes of computing that quantity might grow continually more complex.

For this change in the habits of the beaver, see the reports of hunters, Indians, Canadian half-breeds, &c.

NOTE 24. Page 79.

"Of Asia." —The Asiatic princes notoriously put a higher affirmative value on this kind of personal ornament, than has in any age been allowed to it in Europe. The queen of Great Britain, so mighty a potentate, has usually (whether queen consort or queen regnant) worn diamonds and rubies on her coronation day, worth about one hundred thousand pounds. The king of Oude, a petty Indian prince, raised to that supreme rank by ourselves, has repeatedly, on his own person, or his son's, worn such jewels to the value of two millions sterling. In Christendom, Prince Esterhazy's "best coat" overlaid with diamonds, is the most costly single article known, or not known to pawnbrokers, but it is not valued at more than half a million sterling.

NOTE 25. Page 80.

It would, however, be much more convenient in an amended political economy, (that is, an economy in which not only the great doctrines should be formally harmonized and expanded, but in which also a better terminology should be introduced, wearing the simplicity equally with the broad applicability of an algebraic language,) that some such term as teleologic or affirmative should be reserved conventionally, in order to meet the following case:- By teleologic value, unless specially restrained to a more technical service, would naturally be understood the case, a very common one, where the selling price of an article (the exchange value) happened at the moment, or was supposed for any purpose of dispute, to found itself on the use value. But we need also a term expressing this use value,- for instance, the value of atmospheric air, in cases where it is not only contemplated apart from any exchange value, but where essentially it repels all exchange value. In such a conventional restriction of its acceptation, the term teleologic value would become tantamount to the term riches, as rightly and sagaciously set up in a separate chapter of Ricardo, by way of a counterpole to all exchange value whatever. Ricardo has been liberally assaulted for this antithesis as prima facie absurd and irrelate; verbally it seems so. But the

Cevyos, the dualism of these polar ideas, riches and value, is a mere necessity of the understanding, and returns upon the severe thinker after all verbal efforts to evade it.

NOTE 26. Page 87.

Salmasius subsequently explained his view of the passage in a short paraphrastic commentary, which agrees exactly with the present in pointing to the double form of exchange value, except as to the temper of the vender, when Salmasius (doubtless warped by the title of the particular chapter in Theophrastus, viz. Пepi Av¤adeias) conceives to be acting in the spirit of insolence. This is part of what Salmasius says, "Superbus et contumax venditor designatur his notis a Theophrasto, — qui” [i. e. venditor] “merces suas quanti vendat indicare dedignatus, emptorem interroget, quanti valeant, et quo pretio emi dignæ sint?" True: this is the nature of the substitution which he makes, but not the spirit in which he makes it. Not as disdaining to declare at what price he sells, but fraudulently, as seeing an interest in evading that question, does Scamp transfer the right of question to himself, and the duty of answer, to the other side. He transfers it from negative value to affirmative.

NOTE 27. Page 95.

"The actual value." "Actual," in the sense of present, is one of the most frequent (but also of the most disgusting) Gallicisms. L'état actuel des armées Françaises, is good French; but to say in English," the actual condition," &c., is a jargon of foreigners. Actual in English can never be opposed to future; it is with us the antithesis, 1st, and generally to possible, 2d, to contingent; 3d, to a representation existing only in words, or by way of pretence.

NOTE 28. Page 100.

"Verbal equivocation." - What equivocation? some readers will say. For though a false result is somehow obtained, it does not instantly appear how the word market has, or can have, led to this result by two senses. But it has. In one of its uses, and that the commonest by very much, the word market indicates a FACT, and nothing more, viz. simply the ubi of the sale. But, in another use, this word indicates a LAW, viz. the conditions under which the sale

was made; which conditions are the three several states of the market as to the balance existing between the quantity of any article and the public demand for it. Every market, and in all times, must offer of every commodity, either first, too much for the demand, or secondly, too little, or thirdly, neither too much nor too little; and the term “market value,” when pointing to such conditions, points to a coefficient which in part governs the price. But in the popular use, where it expresses only a fact, it points to a mere inert accident having no tendency to affect the price.

NOTE 29. Page 101.

"An old English standard.”. - Upon this subject there exists a most inveterate prejudice in Scotland, which ought not to be hard of overthrow, being absolutely unfounded; only that to be attacked with success, it must be attacked upon a new principle. It is universally held by the Scotch, or rather postulated as a point confessed and notorious, that the English, as compared with themselves, are a nation luxurious in diet. Now, as to the Scottish gentry, this notion is a mere romance; between them and the English gentry there is no difference whatever in that respect. But, on descending below the gentry, through all the numerous classes of society, you will certainly find a lower diet prevailing in Scotland; and, secondly, a lower regard to diet. As compared with the Scottish, it cannot be denied that the English working classes, and the lower class of shopkeepers, were (I wish it could be said are) considerably more luxurious as to diet. I know not whether this homely diet of Scotland has, upon the whole, proved an advantage for her; very sure I am that a more generous diet has been a blessing of the first order to England. Even as regards health, there is something to be said for a more genial diet. That diet, which leads people to indifference for eating, may sound more philosophic; but it is not the healthiest: on that point there are conclusive experiments. On the other hand, considered as a political advantage, a high standard of diet is invaluable. Many are the writers who have properly insisted on the vast benefits, in periods of scarcity, which accrue to nations enjoying a large latitude of descent; whereas the Swedish or Scottish nation, from habitual poverty of diet (though fortunately a diet improved and improving through the last hundred years), finds itself already on the lowest round of the ladder, whenever the call comes for descending. In a famine what can be their resources? This, however, is but one of the great national