Many exchangeable values may be destroyed intentionally without compensation.
2.
This alludes to an introductory principle of value, that " as soon as there is not so much of the thing to be had, as would be appropriated and used if it could be obtained for asking; the ownership or use of the natural agent acquires an exchangeable value ."
3.
Smith had affirmed that labour is " the real measure of the exchangeable value of all commodities ", but, as David Ricardo subsequently argued, Smith's definition confused the labour " embodied " in a commodity when it was produced, with the labour " commanded " by the commodity when it was exchanged.
4.
We hold to the use of both gold and silver as the standard money of the country, and to the coinage of both gold and silver without discriminating against either metal or charge for mintage, but the dollar unit of coinage of both metals must be of equal intrinsic and exchangeable value, or be adjusted through international agreement or by such safeguards of legislation as shall insure the maintenance of the parity of the two metals and the equal power of every dollar at all times in the markets and in the payment of debts; and we demand that all paper currency shall be kept at par with and redeemable in such coin.
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