This is a time-honored criticism of hedonism. My present concern with it is purely logical. It shows that the attempt to bring over from past objects the elements of a standard for valuing future consequences is a hopeless one. The express object of a valuation-judgment is to release factors which being new, cannot be measured on the basis of the past alone. This discussion of the analytic logic as applied in morals would, however, probably not be worth while did it not serve to throw into relief the significance of any appeal to fulfilment of a system or organization as _the_ moral good--the standard. Such an appeal, if it is wary, is an appeal to the present situation as _undergoing that reorganization that will confer upon it the unification which it lacks_; to organization as something to be brought about, to be made. And it is clear that this appeal meets all the specifications of judgments of practice as they have been described. The organization which is to be fulfilled through action is an organization which, at the time of judging, is present in conception, in idea--in, that is, reflective inquiry as a phase of reorganizing activity. And since its presence in conception is both a condition of the organization aimed at _and_ a function of the adequacy of the reflective inquiry, it is evident that there is here a confirmation of our statement that the practical judgment is a judgment of what and how to judge as an integral part of the completion of an incomplete temporal situation. More specifically, it also appears that the standard is a rule for conducting inquiry to its completion: it is a counsel to make examination of the operative factors complete, a warning against suppressing recognition of any of them. However a man may impose upon himself or upon others, a man's real measure of value is exhibited in what he _does_, not in what he consciously thinks or says. For the doing is the _actual_ choice. It is the completed reflection.