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Updated: May 3, 2025
The universe is a system of which the individual members may relax their anxieties occasionally, in which the don't-care mood is also right for men, and moral holidays in order that, if I mistake not, is part, at least, of what the Absolute is 'known-as, that is the great difference in our particular experiences which his being true makes for us, that is part of his cash-value when he is pragmatically interpreted.
Having used the phrase 'cash-value' of an idea, I am implored by one correspondent to alter it, 'for every one thinks you mean only pecuniary profit and loss. Having said that the true is 'the expedient in our thinking, I am rebuked in this wise by another learned correspondent: 'The word expedient has no other meaning than that of self-interest.
You are at the end of your metaphysical quest. But if you follow the pragmatic method, you cannot look on any such word as closing your quest. You must bring out of each word its practical cash-value, set it at work within the stream of your experience.
A group of attributes is what each substance here is known-as, they form its sole cash-value for our actual experience.
New interests and incitements, and feelings of power, sublimity, and admiration are aroused. Abstractness per se seems to have a touch of ideality. ROYCE'S 'loyalty to loyalty' is an excellent example. 'Causes, as anti-slavery, democracy, liberty, etc., dwindle when realized in their sordid particulars. The veritable 'cash-value' of the idea seems to cleave to it only in the abstract status.
How will the truth be realized? What experiences will be different from those which would obtain if the belief were false? What, in short, is the truth's cash-value in experiential terms?"
Who can measure the effects on the national German soul of the splendid series of German poets and German men of learning, most of them academic personages? From the bare economic point of view the importance of geniuses is only beginning to be appreciated. How can we measure the cash-value to France of a Pasteur, to England of a Kelvin, to Germany of an Ostwald, to us here of a Burbank?
What, in short, is the truth's cash-value in experiential terms?" The moment pragmatism asks this question, it sees the answer: TRUE IDEAS ARE THOSE THAT WE CAN ASSIMILATE, VALIDATE, CORROBORATE, AND VERIFY. FALSE IDEAS ARE THOSE THAT WE CANNOT. That is the practical difference it makes to us to have true ideas; that therefore is the meaning of truth, for it is all that truth is known as.
Abolish that substance, he said, believe that God, whom you can understand and approach, sends you the sensible world directly, and you confirm the latter and back it up by his divine authority. Berkeley's criticism of 'matter' was consequently absolutely pragmatistic. Matter is known as our sensations of colour, figure, hardness and the like. They are the cash-value of the term.
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