Money and Prices
BY E. L. SMITH
MONEY is a creation of law.
Money is a measure of valuable things or services.
Money is a measure of constant and ever-varying capacity.
Money is not value in itself.
The divisor measures the dividend by division.
Money measures property by division.
If the divisor increases as fast proportionately as the dividend, the quotient will remain the same.
When the amount of money increases as fast proportionately as the property to be measured or divided, the average of prices will remain on a level; and, although there will be constant fluctuations in price among the different articles to be measured or divided, the average purchasing or measuring power of the measure or the unit of value will remain the same.