Though labour, immediate and hoarded, is the _regulator_, it is not the _measure_ of exchangeable value: for the sufficient reason, that labour itself is perpetually varying in quality and quantity, from there being no fixed proportion between immediate and hoarded labour. Since labour, the primary regulator, cannot serve as a measure of exchangeable value, none of the products of labour can serve as such a measure. There is, therefore, no measure of exchangeable value. Such a measure is not needed; as a due regulation of the supply of labour, and the allowance of free scope to the principle of competition ensure sufficient stability of exchangeable value for all practical purposes. In these requisites are included security of property, and freedom of exchange, to which political tranquillity and legislative impartiality are essential. Price is the exponent of exchangeable value. ------------------------------------------------------------------------ Transcriber’s Note Words hyphenated on line or page breaks have the hyphen removed if the preponderance of other occurences are unhyphenated. Hyphens occuring midline are retained regardless of other unhyphenated occurences (step-mother/stepmother, straight-forward/straightforward, life-time/lifetime, work-house/workhouse, fish-women/fishwomen, door-way/doorway). At line 12 of page 27 in “For Each and For All”, there is an opening double quote which seems superfluous. The author’s intent not being clear, it has been retained. Other errors deemed most likely to be the printer’s have been corrected, and are noted here. The references are to the page and line in the original. Given the independent pagination of the original, these are divided by volume. Homes Abroad.