...century, the value of gold and silver in Europe to about a third of what it had been before. As it cost less labour to bring those metals from the mine...real price ; money is their nominal price only. But though equal quantities of labour are always of equal value to the labourer, yet to the person who...

...standard by which the value of all commo" dities can at all times and at all places be es" timated and compared. It is their real price: " money is their nominal price only." (Book I. Chap. V.) Hence labour should be equally paid, and not deprived of its due support and just...

...of exchangeable value. Adam Smith lays it down broadly and circumstantially, book ic 5 — " Labour is alone the ultimate and real standard by which the...their real price ; money is their nominal price only." Nothing can be more necessary than a strict examination of this proposition, for it is in vain to attempt...

...annual supply must, in that particular situation, depend upon those two circumstances. — Adam Snath. At all times and places, that is dear which it is...their real price ; money is their nominal price only. — Idem. All useful labour — all labour contributing to the power of a people, is engaged in the...

...that of the labour which purchases them. At all times and places that is dear which it is difficult t6 come at, or which it costs much labour to acquire;...real price; money is their nominal price only. But though equal quantities of labour are always of equal value to the labourer, yet to the person who...

...little labour. Labour alone, therefore, never varying in its own value, is alone the ultimate a'id real standard by which the value of all commodities...real price; money is their nominal price only. But though equal quantities of labour are always of equal value to the labourer, yet to the person who...

...and that cheap which is to be had easily, or with very little labour :" and that labour, therefore, is alone the ultimate and real standard, by which...their real price ; money is their nominal price only. The first general proposition in regard to Labour, is, that in the progress of society the value of...

...and. not a measure of purchasing power, as Mr. Buchanan and others have erroneously interpreted it) is alone the ultimate and real standard by which the...real price — money is their nominal price only." Value, in this sense of it, relates not to the interchange of commodities, but (under the same circumstances...

...quantities of labor, at all times and places, may be said to be of equal value to the laborer." "Labor alone, therefore, never varying in its own value,...their real price, money is their nominal price only." "Labor, therefore, it appears evidently, is the only universal, as well as the only accurate measure...

...thirty-sixth, and the French pound and penny about a sixty-sixth part of their original value. — 11. LAROUR, never varying in its own value, is alone the ultimate...their real price ; money is their nominal price only. — 15. THERE were silver coins in England in the time of the Saxons ; but there was little gold coined...