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Updated: May 19, 2025
As the striking of Etruscan silver money after an Attic standard and the penetrating of Italian and especially of Latin copper into Sicily testify to the two former routes of traffic, so the equivalence, which we have just mentioned, between the silver money of Magna Graecia and the copper coinage of Picenum and Apulia, forms, with numerous other indications, an evidence of the active traffic which the Greeks of Lower Italy, the Tarentines in particular, held with the east Italian seaboard.
Moreover, indefiniteness of equivalence among the groups is common to those which we know have been evolved, and to those supposed in the volume before us to have been evolved. There is the further significant fact that divergent groups are allied through their lowest rather than their highest members.
Thus every product of art and industry, every political and religious constitution, like every creature organized or unorganized, being only a realization, a natural or practical application, of philosophy, the identity of the laws of nature and reason, of being and idea, is demonstrated; and when, for our own purpose, we establish the constant conformity of economic phenomena to the pure laws of thought, the equivalence of the real and the ideal in human facts, we only repeat in a particular case this eternal demonstration.
As we said in the first chapter, and as we shall prove in detail in the next section, the prohibition of usury was simply one of the applications of the theory of equivalence in contracts in other words, it was the determination of the just price to be paid in an exchange of money for money.
Positive science, we are told, presents the universe to us as an immense homogeneous transformation, maintaining an exact equivalence between departure and arrival. How can we possibly have after that the genuine creation which we require in the act we call free? The answer is that the universality of the mechanism is at bottom only a hypothesis which is still awaiting demonstration.
II. II. The Valerio-Horatian Laws II. III. Equivalence Law and Plebiscitum II. I. Restrictions on the Delegation of Powers II. III. Increasing Powers of the Burgesses
His memoir, now celebrated, did not produce any great sensation, and it had almost fallen into deep oblivion, which, in consequence of the discovery of the principle of equivalence, might have seemed perfectly justified.
Trade necessarily presupposes the freedom of the contracting parties and the equivalence of the products exchanged; but since value is determined by the amount of time and expense which each product costs, and since freedom is inviolable, the workers remain necessarily equal in reward as also in rights and duties.
He may then again endeavor, by a rule of equivalence, to conceive the same amount of exertion in quite another way; to imagine human forces equal in quantity to all that putting forth of strength, physical, mental, and financial, for annoyance and destruction, expended instead, in the operation of effecting the utmost improvement which they could effect, in the mental cultivation and the morals of the inhabitants of one large town in his own country.
III. The effect of labor being the same for all, property is lost in the common prosperity. IV. All human labor being the result of collective force, all property becomes, in consequence, collective and unitary. To speak more exactly, labor destroys property. VI. The necessary conditions of commerce are the liberty of the contracting parties and the equivalence of the products exchanged.
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