one essential condition of economic flow and counterflow, has been provided for; and as this calls for a unit of value which shall be both a means of exchange and a safe basis for deferred payment, or, more simply, a unit of value that is a unit of value both in area and time, we are compelled to consider the elements of measurement before planning any of those expensive ameliorations, at the cost of some one else, which we call reform. It is not a question whether we should do this, or whether we should do that, as a matter of reform or “social justice.” There can be nothing but momentary and unsatisfactory adjustments until we learn to measure. If just measurement is impossible, then we might as well go on as we are going—snatching what we may as opportunity offers, and endowing social surveys if we chance to prosper, or contributing to inevitable relief funds to care for those who snatched less skilfully—or less fortunately.
It is in the consideration of the principles of measurement that the engineer may be useful, since he has been trained to ignore respectable delusions and—for the moment, at any rate—to lay aside sympathy, antipathy and tradition. No matter how sultry with convention the atmosphere, or charged with prejudice, he is accustomed to playing with some patience the part of a lightning conductor; and, in disputes based upon pure opinion,—which arise also outside the field of economics,—is equally used to being hit, first from one side and then from the other.
In the light of wider knowledge or more special experience, his concrete recommendations may often be amended to advantage; but since he is under the obligation of openly correlating the factors—not always his own—which he has been able to assemble, his serious critics are under the equal obligation of coming forward with more precise factors or more convincing correlation. They cannot, at any rate, insert “Nature” on one side only of an equation in value and put forward an answer in terms of gold—and get away with it. This new-born diffidence in itself ensures a definite gain as a result of the storm—no matter what happens to the lightning conductor.
