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reaping；　turns　one　measure　of　corn　into　two　measures。　That　is



Profit。　Another；　by　digging　and　forging；　turns　one　spade　into　two



spades。　That　is　Profit。　But　the　man　who　has　two　measures　of　corn



wants　sometimes　to　dig；　and　the　man　who　has　two　spades　wants



sometimes　to　eat：They　exchange　the　gained　grain　for　the　gained



tool；　and　both　are　the　better　for　the　exchange；　but　though　there



is　much　advantage　in　the　transaction；　there　is　no　profit。　Nothing



is　constructed　or　produced。　Only　that　which　had　been　before



constructed　is　given　to　the　person　by　whom　it　can　be　used。　If



labour　is　necessary　to　effect　the　exchange；　that　labour　is　in



reality　involved　in　the　production；　and；　like　all　other　labour；



bears　profit。　Whatever　number　of　men　are　concerned　in　the



manufacture；　or　in　the　conveyance；　have　share　in　the　profit；　but



neither　the　manufacture　nor　the　conveyance　are　the　exchange；　and



in　the　exchange　itself　there　is　no　profit。



　　　　There　may；　however；　be　acquisition；　which　is　a　very　different



thing。　If；　in　the　exchange；　one　man　is　able　to　give　what　cost　him



little　labour　for　what　has　cost　the　other　much；　he　〃acquires〃　a



certain　quantity　of　the　produce　of　the　other's　labour。　And



precisely　what　he　acquires；　the　other　loses。　In　mercantile



language；　the　person　who　thus　acquires　is　commonly　said　to　have



〃made　a　profit〃；　and　I　believe　that　many　of　our　merchants　are



seriously　under　the　impression　that　it　is　possible　for　everybody；



somehow；　to　make　a　profit　in　this　manner。　Whereas；　by　the



unfortunate　constitution　of　the　world　we　live　in；　the　laws　both



of　matter　and　motion　have　quite　rigorously　forbidden　universal



acquisition　of　this　kind。　Profit；　or　material　gain；　is　attainable



only　by　construction　or　by　discovery；　not　by　exchange。　Whenever



material　gain　follows　exchange；　for　every　plus　there　is　a



precisely　equal　minus。



　　　　Unhappily　for　the　progress　of　the　science　of　Political



Economy；　the　plus　quantities；　or；　　if　I　may　be　allowed　to　coin



an　awkward　plural　　the　pluses；　make　a　very　positive　and



venerable　appearance　in　the　world；　so　that　every　one　is　eager　to



learn　the　science　which　produces　results　so　magnificent；　whereas



the　minuses　have；　on　the　other　hand；　a　tendency　to　retire　into



back　streets；　and　other　places　of　shade；　　or　even　to　get



themselves　wholly　and　finally　put　out　of　sight　in　graves：　which



renders　the　algebra　of　this　science　peculiar；　and　difficultly



legible；　a　large　number　of　its　negative　signs　being　written　by



the　account…keeper　in　a　kind　of　red　ink；　which　starvation　thins；



and　makes　strangely　pale；　or　even　quite　invisible　ink；　for　the



present。



　　　　The　Science　of　Exchange；　or；　as　I　hear　it　has　been　proposed



to　call　it；　of　〃Catallactics；〃　considered　as　one　of　gain；　is；



therefore；　simply　nugatory；　but　considered　as　one　of　acquisition；



it　is　a　very　curious　science；　differing　in　its　data　and　basis



from　every　other　science　known。　Thus：　　if　I　can　exchange　a



needle　with　a　savage　for　a　diamond；　my　power　of　doing　so　depends



either　on　the　savage's　ignorance　of　social　arrangements　in



Europe；　or　on　his　want　of　power　to　take　advantage　of　them；　by



selling　the　diamond　to　any　one　else　for　more　needles。　If；



farther；　I　make　the　bargain　as　completely　advantageous　to　myself



as　possible；　by　giving　to　the　savage　a　needle　with　no　eye　in　it



（reaching；　thus　a　sufficiently　satisfactory　type　of　the　perfect



operation　of　catallactic　science）；　the　advantage　to　me　in　the



entire　transaction　depends　wholly　upon　the　ignorance；



powerlessness；　or　heedlessness　of　the　person　dealt　with。　Do　away



with　these；　and　catallactic　advantage　becomes　impossible。　So　far；



therefore；　as　the　science　of　exchange　relates　to　the　advantage　of



one　of　the　exchanging　persons　only；　it　is　founded　on　the



ignorance　or　incapacity　of　the　opposite　person。　Where　these



vanish；　it　also　vanishes。　It　is　therefore　a　science　founded　on



nescience；　and　an　art　founded　on　artlessness。　But　all　other



sciences　and　arts；　except　this；　have　for　their　object　the　doing



away　with　their　opposite　nescience　and　artlessness。　This　science；



alone　of　sciences；　must；　by　all　available　means；　promulgate　and



prolong　its　opposite　nescience；　otherwise　the　science　itself　is



impossible。　It　is；　therefore；　peculiarly　and　alone　the　science　of



darkness；　probably　a　bastard　science　　not　by　any　means　a　divina



scientia；　but　one　begotten　of　another　father；　that　father　who；



advising　his　children　to　turn　stones　into　bread；　is　himself



employed　in　turning　bread　into　stones；　and　who；　if　you　ask　a　fish



of　him　（fish　not　being　producible　on　his　estate）；　can　but　give



you　a　serpent。



　　　　The　general　law；　then；　respecting　just　or　economical



exchange；　is　simply　this：　　There　must　be　advantage　on　both



sides　（or　if　only　advantage　on　one；　at　least　no　disadvantage　on



the　other）　to　the　persons　exchanging；　and　just　payment　for　his



time；　intelligence；　and　labour；　to　any　intermediate　person



effecting　the　transaction　（commonly　called　a　merchant）；　and



whatever　advantage　there　is　on　either　side；　and　whatever　pay　is



given　to　the　intermediate　person；　should　be　thoroughly　known　to



all　concerned。　All　attempt　at　concealment　implies　some　practice



of　the　opposite；　or　undivine　science；　founded　on　nescience。



Whence　another　saying　of　the　Jew　merchant's　　〃As　a　nail　between



the　stone　joints；　so　doth　sin　stick　fast　between　buying　and



selling。〃　Which　peculiar　riveting　of　stone　and　timber；　in　men's



dealings　with　each　other；　is　again　set　forth　in　the　house　which



was　to　be　destroyed　　timber　and　stones　together　　when



Zechariah's　roll　（more　probably　〃curved　sword〃）　flew　over　it：



〃the　curse　that　goeth　forth　over　all　the　earth　upon　every　one



that　stealeth　and　holdeth　himself　guiltless；〃　instantly　followed



by　the　vision　of　the　Great　Measure；　　the　measure　〃of　the



injustice　of　them　in　all　the　earth〃　（auti　i　adikia　auton　en　pase



te　ge）；　with　the　weight　of　lead　for　its　lid；　and　the　woman；　the



spirit　of　wickedness；　within　it；　　that　is　to　say；　Wickedness



hidden　by　Dulness；　and　formalized；　outwardly；　into　ponderously



established　cruelty。　〃　It　shall　be　set　upon　its　own　base　in　the



land　of　Babel。〃　（23*）



　　　　I　have　hitherto　carefully　restricted　myself；　in　speaking　of



exchange；　to　the　use　of　the　term　〃advantage〃；　but　that　term



includes　two　ideas；　the　advantage；　namely；　of　getting　what　we



need；　and　that　of　getting　what　we　wish　for。　Three…fourths　of　the



demands　existing　in　the　world　are　romantic；　founded　on　visions；



idealisms；　hopes；　and　affections；　and　the　regulation　of　the　purse



is；　in　its　essence；　regulation　of　the　imagination　and　the　heart。



Hence；　the　right　discussion　of　the　nature　of　price　is　a　very　high



metaphysical　and　psychical　problem；　sometimes　to　be　solved　only



in　a　passionate　manner；　as　by　David　in　his　counting　the　price　of



the　water　of　the　well　by　the　gate　of　Bethlehem；　but　its　first



conditions　are　the　following：　　The　price　of　anything　is　the



quantity　of　labour　given　by　the　person　desiring　it；　in　order　to



obtain　possession　of　it。　This　price　depends　on　four　variable



quantities。　A。　The　quantity　of　wish　the　purchaser　has　for　the



thing；　opposed　to　a；　the　quantity　of　wish　the　seller　has　to　keep



it。　B。　The　quantity　of　labour　the　purchaser　can　afford；　to　obtain



the　thing　opposed　to　B；　the　quantity　of　labour　the　seller　can



afford；　to　keep　it。　These　quantities　are　operative　only　in



excess；　i。e。　the　quantity　of　wish　（A）　means　the　quantity　of　wish



for　this　thing；　above　wish　for　other　things；　and　the　quantity　of



work　（B）　means　the　quantity　which　can　be　spared　to　get　this　thing



from　the　quantity　needed　to　get　other　things。



　　　　Phenomena　of　price；　therefore；　are　intensely　complex；



curious；　and　interesting　　too　complex；　however；　to　be　examined



yet；　every　one　of　them；　when　traced　far　enough；　showing　itself　at



last　as　a　part　of　the　bargain　of　the　Poor　of　the　Flock　（or　〃flock



of　slaughter〃）；　〃If　ye　think　good；　give　ME　my　price；　and　if　not；



forbear〃　Zech。　xi。　12；　but　as　the　price　of　everything　is　to　be



calculated　finally　in　labour；　it　is　necessary　to　define　the



nature　of　that　standard。



　　　　Labour　is　the　contest　of　the　life　of　man　with　an　opposite；　



the　term　〃life〃　including　his　intellect；　soul；　and　physical



power；　contending　with　question；　difficulty；　trial；　or　material



force。



　　　　Labour　is　of　a　higher　or　lower　order；　as　it　includes　more　or



fewer　of　the　elements　of　life：　and　labour　of　good　quality；　in　any



kind；　includes　always　as　much　intellect　and　feeling　as　will　fully