What is Money?
Money is a thing which can only be made use of, by being alienated
or exchanged. This is a good nominal definition, as given by
Achenwall; and it is sufficient to distinguish objects of the will
of this kind from all other objects. But it gives us no information
regarding the rational possibility of such a thing as money is. Yet we
see thus much by the definition: (1) that the alienation in this
mode of human intercommunication and exchange is not viewed as a gift,
but is intended as a mode of reciprocal acquisition by an onerous
contract; and (2) that it is regarded as a mere means of carrying on
commerce, universally adopted by the people, but having no value as
such of itself, in contrast to other things as mercantile goods or
wares which have a particular value in relation to special wants
existing among the people. It therefore represents all exchangeable
things.
A bushel of corn has the greatest direct value as a means of
satisfying human wants. Cattle may be fed by it; and these again are
subservient to our nourishment and locomotion, and they even labour in
our stead. Thus, by means of corn, men are multiplied and supported,
who not only act again in reproducing such natural products, but
also by other artificial products they can come to the relief of all
our proper wants.
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