Every reflection leaves behind it a double effect. Its immediate outcome is (as I tried to show earlier) the direct reorganization of a situation, a reorganization which confers upon its contents new increments of intrinsic meaning. Its indirect and intellectual product is the defining of a meaning which (when fixed by a suitable existence) is a resource in subsequent investigations. I would not despise the assistance lent by the words "term" and "proposition." As slang has it, a pitched baseball is to the batter a "proposition"; it states, or makes explicit, what he has to deal with next amid all the surrounding and momentarily irrelevant circumstance. Every statement extracts and sets forth the net result of reflection up to date as a condition of subsequent reflection. This extraction of the kernel of past reflections makes possible a throwing to one side of all the consequences of prior false and futile steps; it enables one to dispense with the experiences themselves and to deal only with their _net_ profit. In a favorite phrase of realism, it gives an object "as if there were no experience." It is unnecessary to descant upon the economy of this procedure. It eliminates everything which in spite of its immediate urgency, or vividness, or weight of past authority, is rubbish for the purpose in hand. It enables one to get down to business with just that which (presumably) is of importance in subsequent procedure. It is no wonder that these logical kernels have been elevated into metaphysical essences. The word "term" suggests the limiting condition of every process of reflection. It sets a fence beyond which it is, presumably, a waste to wander--an error. It sets forth that which _must_ be taken into account--a limit which is inescapable, something which is to ratiocination what the brute datum is to observation. In classic phrase, it is a notion, that is, a _noting_, of the distinctions which have been fixed for the purposes of the kind of inquiry now engaged in. One has only to compare the terms of present scientific discourse with those of, say, Aristotle, to see that the importance of terms as instruments of a proper survey of and attack upon existential situations is such that the terms resulting naturally and spontaneously from reflection have been dropped and more effective ones substituted. In one sense, they are all equally objective; aquosity is as genuine, as well as more obvious, a notion as the present chemical conception. But the latter is able to enter a much wider scope of inquiries and to figure in them more prosperously.