A Rise In Wages, From An Alteration

Possessing Utility, Commodities Derive Their Exchangeable Value From Two Sources: From Their Scarcity, And From The Quantity Of Labour Required To Obtain Them.

Labour, Like All Other Things Which Are Purchased And Sold, And Which May Be Increased Or Diminished In Quantity, Has Its Natural And Its Market Price. The Natural Price Of Labour Is That Price Which Is Necessary To Enable The Labourers, On With Another, To Subsist And To Perpetuate Their Race, Without Either Increase Or Diminution.

Gold And Silver, Like Other Commodities, Have An Intrinsic Value, Which Is Not Arbitrary, But Is Dependent On Their Scarcity, The Quantity Of Labour Bestowed In Procuring Them, And The Value Of The Capital Employed In The Mines Which Produce Them.

If English Money Was Of The Same Value Then As Before, Hamburgh Money Must Have Risen In Value. But Where Is The Proof Of This?

Gold And Silver Are No Doubt Subject To Fluctuations, From The Discovery Of New And More Abundant Mines; But Such Discoveries Are Rare, And Their Effects, Though Powerful, Are Limited To Periods Of Comparatively Short Duration.