that is precisely where the illusion lies. It has become customary to refer the value of everything to that of cash. It is said, this is worth five, ten, or twenty francs, as we say this weighs five, ten, or twenty grains; this measures five, ten, or twenty yards; this ground contains five, ten, or twenty acres; and hence it has been concluded, that cash is the measure of values.
B. Well, it appears as if it was so.
F. Yes, it appears so, and it is this I complain of, and not of the reality. A measure of length, size, surface, is a quantity agreed upon, and unchangeable. It is not so with the value of gold and silver. This varies as much as that of corn, wine, cloth, or labour, and from the same causes, for it has the same source and obeys the same laws. Gold is brought within our reach, just like iron, by the labour of miners, the advances of capitalists, and the combination of merchants and seamen. It costs more or less, according to the expense of its production, according to whether there is much or little in the market, and whether it is much or little in request; in a word, it undergoes the fluctuations of all other human productions. But one circumstance is singular, and gives rise to many mistakes. When the value of cash varies, the variation is attributed by language to the other productions for which it is exchanged. Thus, let us suppose that all the circumstances relative to gold remain the same, and that the corn harvest has failed. The price of corn will rise. It will be said, "The
