geometry the point of comparison is extent, and the unit of
measure is now the division of the circle into three hundred and
sixty parts, now the circumference of the terrestrial globe, now
the average dimension of the human arm, hand, thumb, or foot. In
economic science, we have said after Adam Smith, the point of
view from which all values are compared is labor; as for the unit
of measure, that adopted in France is the FRANC. It is
incredible that so many sensible men should struggle for forty
years against an idea so simple. But no: THE COMPARISON OF
VALUES IS EFFECTED WITH OUT A POINT OF COMPARISON BETWEEN THEM,
AND WITHOUT A UNIT OF MEASURE,--such is the proposition which the
economists of the nineteenth century, rather than accept the
revolutionary idea of equality, have resolved to maintain against
all comers. What will posterity say?

I shall presently show, by striking examples, that the idea of
the measure or proportion of values, theoretically necessary, is
constantly realized in every-day life.


% 3.--Application of the law of proportionality of values.

Every product is a representative of labor.

Every product, therefore, can be exchanged for some other, as
universal practice proves.

But abolish labor, and you have left only articles of greater or
less usefulness, which, being stamped with no economic character,
no human seal, are without a common measure,--that is, are