The Wheat Bought By A Farmer To

If A Commodity Were In No Way Useful, - In Other Words, If It Could In No Way Contribute To Our Gratification, - It Would Be Destitute Of Exchangeable Value, However Scarce It Might Be, Or Whatever Quantity Of Labour Might Be Necessary To Procure It.

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 Then The Prosperity Of The Commercial Classes, Will Most Certainly Lead To Accumulation Of Capital, And The Encouragement Of Productive Industry; These Can By No Means Be So Surely Obtained As By A Fall In The Price Of Corn.

The Price Of Corn Will Naturally Rise With The Difficulty Of Producing The Last Portions Of It.

A Rise Of Wages From This Cause Will, Indeed, Be Invariably Accompanied By A Rise In The Price Of Commodities; But In Such Cases, It Will Be Found That Labour And All Commodities Have Not Varied In Regard To Each Other, And That The Variation Has Been Confined To Money.