If A Tax On Malt Would Raise

Again Two Manufacturers May Employ The Same Amount Of Fixed, And The Same Amount Of Circulating Capital; But The Durability Of Their Fixed Capitals May Be Very Unequal.

To Alter The Money Value Of Commodities, By Altering The Value Of Money, And Yet To Raise The Same Money Amount By Taxes, Is Then Undoubtedly To Increase The Burthens Of Society.

Gold And Silver, Like Other Commodities, Have An Intrinsic Value, Which Is Not Arbitrary, But Is Dependent On Their Scarcity, The Quantity Of Labour Bestowed In Procuring Them, And The Value Of The Capital Employed In The Mines Which Produce Them.

Whenever, Then, The Usual And Ordinary Rate Of The Profits Of Agricultural Stock, And All The Outgoings Belonging To The Cultivation Of Land, Are Together Equal To The Value Of The Whole Produce, There Can Be No Rent.

Utility Then Is Not The Measure Of Exchangeable Value, Although It Is Absolutely Essential To It.