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Rh instinctively feel, though his pseudo-science had never taught him, that the price paid for the animals, in either case, did not alter the fact of their worth; that the good horse, though it might have been bought by chance for a few guineas, was not therefore less valuable, nor the owner of the galled jade any the richer, because he had given a hundred for it.

8. So that the economist, in saying that his science takes no account of the qualities of pictures, merely signifies that he cannot conceive of any quality of essential badness or goodness existing in pictures; and that he is incapable of investigating the laws of wealth in such articles. Which is the fact. But, being incapable of defining intrinsic value in pictures, it follows that he must be equally helpless to define the nature of intrinsic value in painted glass, or in painted pottery, or in patterned stuffs, or in any other national produce requiring true human ingenuity. Nay, though capable of conceiving the idea of intrinsic value with respect to beasts of burden, no economist has endeavoured to state the general principles of National Economy, even