44 
Further Observations reo'ardins: Value. 
u O 
[Feb. 
(( Life has no value as an end, but means 
An end deplorable, a means divine 3 .” 
Now, if we deny the existence of such value, as is here understood, we, it 
appears to me, arrogate to ourselves a right of altering the English language ; 
a right which we cannot be justified in assuming, unless indeed a case of urgent 
necessity be made out ; unless it be shewn, that the employment in Political Economy 
of this general and indefinite term, be altogether incompatible with the clear 
explanation of those branches of the science, which are in connexion with value. 
But I see no necessity for our assuming to ourselves this license, to alter the 
English language ; on the contrary, I conceive that it is of the greatest impor- 
tance clearly to understand wherein this general, and indefinite kind of value, 
differs from the more peculiar and specific descriptions which are included under 
it, as subspecies ; I therefore take some pains to trace, first, the generic kind 
of value to its source ; and then the specific differences which distinguish the 
various descriptions of value one from another. 
To the necessity alone, under which man labours, for continually employing 
certain classes of bodies, I conceive that the indefinite value must be traced which, 
in ordinary conversation, we attribute, not only to the items which constitute 
our wealth, but to all other useful bodies whatever. This, then, is tracing this 
description of value to utility alone as its source; and so far I admit the justice 
of the observation, that I do make utility and value synonimous But when 
I come to that which I may term the technical value of political economists that 
which peculiarly exists in items of wealth alone, then it becomes necessary 
to point out what considerations are essential to its creation. Accordingly 
I devote the last paragraph of page 234, and nearly the whole of the next vise 
to this subject ; and I shew, that to the existence of the kind of value which 
exclusively belongs to wealth, and which I have denominated the appreciable 
description of value, it is necessary, not only that the bodies possessing it should 
be necessary to man's existence-that they should possess inherent utility; 
u a so that they should be the result of certain sacrifices to which man volun- 
tarily submits m their acquisition ; and that these sacrifices should be of such 
a nature, that all men must be agreed in opinion regarding them. Now what 
I ask is this, but saying, in other words, than those Mr. Prinsep lias used that 
he value inhenug in items of wealth has its origin in their utility to man’ and 
n the difficulty which attends their attainment ; the necessity under which man 
labours for making exertions, in order that tW,, . T. 
heinv the same thW n f „ ^ ma ^ come mto his possession, 
of that writer ’ “ 83 the <>"«“>'>' of attainme^ 
I, to be sure, say, that it is only to the creation of appreciable value that these two 
ingredients (to use Mr. Prinsen^ me mat tkese two 
of the ordinary and ind.fi , ? " eCeSSary S and that to the creation 
is sufficient But Mr P * * Ch ° CCUrS in con ™rsation, utility alone 
altogcuhr'he rop^^rrd i^r" 8 t0 mC l ° ‘he term ra& e, as 
“ce in other Lds If di" ^ 
application ; that the value peculiarly connected w t , V T “ genera 
what : 
w,,h >» referred to as authority f„,. ,| 1( . Z*" ." P “" “ bold i,bllsc . >' f " r ° rds i 
“ophical discussion.— Ed. J * meAn,u ff of » word used in a philo- 
