much as a breath of its air can be
drawn surreptitiously. For every piece of wise work done, so much life
is granted; for every piece of foolish work, nothing; for every piece of
wicked work, so much death is allotted. This is as sure as the courses
of day and night. But when the means of life are once produced, men, by
their various struggles and industries of accumulation or exchange, may
variously gather, waste, restrain, or distribute them; necessitating, in
proportion to the waste or restraint, accurately, so much more death.
The rate and range of additional death are measured by the rate and
range of waste; and are inevitable;--the only question (determined
mostly by fraud in peace, and force in war) is, Who is to die, and how?

11. Such being the everlasting law of human existence, the essential
work of the political economist is to determine what are in reality
useful or life-giving things, and by what degrees and kinds of labour
they are attainable and distributable. This investigation divides itself
under three great heads;--the studies, namely, of the phenomena, first,
of WEALTH; secondly, of MONEY; and thirdly, of RICHES.

These terms are often used as synonymous, but they signify entirely
different things. "Wealth" consists of things in themselves valuable;
"Money," of documentary claims to the possession of such things; and
"Riches" is a relative term, expressing the magnitude of the possessions
of one person or society as compared with those of other persons or
societies.

The study of Wealth is a province of natural science:--it deals with the
essential properties of things.

The study of Money is a province of commercial science:--it deals with
conditions of engagement and exchange.

The study of Riches is a province of moral science:--it deals with the
due relations of men to each other in regard of material possessions;
and with the just laws of their association for purposes of labour.

I shall in this first chapter shortly sketch out the range of subjects
which will come before us as we follow these three branches of inquiry.

12. And first of WEALTH, which, it has been said, consists of things
essentially valuable. We now, therefore, need a definition of "value."

"Value" signifies the strength, or "availing" of anything towards the
sustaining of life, and is always twofold; that is to say, primarily,
INTRINSIC, and secondarily, EFFECTUAL.

The reader must, by anticipation, be warned again