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 to year, save when, on rare occasions, an adverse season or a special accident affects the supply and consequently the price of any natural product—choice fruit, skins, silver, for instance—obtained only from some peculiarly favoured locality.

The monetary system, like so many other Martial institutions, is purely artificial and severely logical. It is held that the exchange value of any article of manufacture or agricultural produce tends steadily downwards, while any article obtained by mining labour, or supplied by nature alone, tends to become more and more costly. The use of any one article of either class as a measure of value tends in the long-run to injustice either towards creditors or debtors. Labour may be considered as the most constant in intrinsic value of all things capable of sale or barter; but the utmost ingenuity of Martial philosophers has failed to devise a fixed standard by which one kind of labour can be measured against another, and their respective productive force, and consequently their value in exchange, ascertained. One thing alone retains in their opinion an intrinsic value always the same, and if it increase in value, increases only in proportion as all produce is obtained in greater quantities or with greater facility. Land, therefore, is in their estimation theoretically the best available measure of value—a dogma which has more practical truth in a planet where population is evenly diffused and increases very slowly, if at all, than it might have in the densely but unevenly peopled countries of Europe or Asia. A staltâ, or square of about fifty yards (rather more than half an acre), is the primary standard unit of value. For purposes of currency this is represented by a small