296 REPORT— 1887. 



ance may be attached to the character of objectivity, when the result of 

 the investigation is to form the basis of action for Governments or Inter- 

 national Conventions. It is fortunate that the difference between the two 

 species of Means is likely to be inconsiderable numerically. 



Section X. 

 Mixed Modes ; compounding the ends or means of several distinct methods. 



(AB[C + c]); (ABc[D + d]); (A + a). 



([A + a] [B + b] [C + c] [D+d] [E + e] [F + f]). 



We have now examined all the branches represented on our tree , But 

 we have by no means exhausted all the possible ramifications ; for, accord- 

 ing to the logic of compartments or combinations, six bifurcations — the 

 number of our principles of division — lead to sixty-four distinct branches. 

 It is further to be observed that two or more branches may unite to form 

 a compound arm. Two or more separate objects may be simultaneously 

 pursued. For instance, a Unit might be required which could combine 

 the attributes C and c, which should be adapted as far as possible to the 

 convenience of the economic individual, both in his capacity of spender 

 and earner. There might be sought the best possible compromise between 

 the conditions that the creditor should receive a constant quantity of 

 value-in-use and that the debtor should pay an amount of money vary- 

 ing with his resources. This middle course might be designated by the 

 symbol A B (C + c). Or, if we start with the conception of a sliding 

 scale, and base it partly on finished products, partly on other items (as 

 materials or wages), we have the Mixed Mode A B c (D + d). 



Again, there seem to be combined in popular thought two elements 

 which we have sought to distinguish in analysis, namely, the conception 

 of an objective mean variation of general prices, and the change in the 

 power of money to purchase advantages. It is as if having to measure 

 the intensity of a drought we were to observe the decline of rainfall in 

 every district over the whole country, and to take the mean of those 

 observations ; while at the same time keeping an eye to the fact that 

 peculiar interest and importance attach to the decline of rainfall in 

 certain regions, namely, those which constitute the catchment basins of 

 the rivers which supply the population with water. The most compre- 

 hensive combination is that represented by our last symbol, purporting 

 to be a compromise between all the modes and purposes ' — the method, 

 if practical exigencies impose the condition that we must employ one 

 method, not many methods. 



Doubtless, practical wisdom lies in a mean, and compromise is of the 

 essence of common sense. Some of the most useful plans and institutions 

 are those recommended by a jumble of heterogeneous and incommensur- 



prices, which he requires to be kept constant : whether it is wliat we have called the 

 Pruducer'n Unit (A B c), or some more objective mean of all price-variations weighted 

 by the corresponding volumes of transactions. 



' Including many purposes which have not been thought worthy of a separate 

 place here — for instance, to find the increase of National Wealth, given the total value 

 at two epochs. 



